CA - Mea Culpa: I Was Wrong About Meta But I'll Correct That Now
2024-06-22 20:07:00 ET
Summary
- I’ve long hated Facebook with the heat of 10,000 suns, waffled on Instagram, and didn’t know what to make of the other apps.
- But it’s never too late to learn and change… Instagram can be fun, and I’m now finding good stuff in Facebook.
- Even so, Meta is, ultimately, an advertising company.
- But I have to admit, Meta is darn good at advertising and is using AI to become even better at it.
- The stock isn’t on the bargain counter, but I think the fundamentals justify its price.
Mark Zuckerberg would probably appreciate an easy legal win.
Everybody seems to be filing some sort of legal thing against Facebook’s corporate parent, Meta Platforms (META) (META:CA) .
Lawsuits, or even Congressional/Regulatory investigations are, sad to say, routine. And it’s not just META.
If I see a company for which the 10-K discloses nothing like that, I’d worry. Is it actually doing business? Does anybody care?
But META is unusual. The “Legal and Related Matters” section of its 2023 10-K is a sight to behold.
It’s a 3,493 word monstrosity. Its Flesch Reading Ease score is a terrible 17.8....
Mea Culpa: I Was Wrong About Meta, But I'll Correct That Now