Key Points
Fortunately for Mark Zuckerberg, the barnstorming success of other parts of Meta Platforms Inc. the rebranding of the business meant to reflect his vision of the future means its duds can hide out within the comically cluttered navigation menu on the main Facebook app..
Theres no better example of this than Instagram Reels, Metas TikTok rip-off, which has offered little of any innovative value it would fade without a trace as a standalone app but in the past few quarters has been the key driver of Metas engagement growth thanks to the fact that billions of people already use Instagram...
Bolder projects, like the desire to create a cryptocurrency, fell apart largely because of Metas poor reputation among regulators, while its poor reputation among the general public can be blamed for its Portal video device failing to take off despite its technical excellence..
And while the company has a great chance to add AI features to its existing successes, there will be high computing costs with no obvious way to make money back from the billions of users who are on Metas apps largely because theyre free...
The Blue apps graveyard shows how hard that might prove to be and these next bets are so costly, he wont be able hide them on his website if they dont work out.. (You can now subscribe to our Economic Times WhatsApp channel).
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