The Social Reckoning That Wasn't
Community Score: 50% | 282.3K views | 1mo
0 community ratings: null thumbs up, null thumbs down
Go to https://surfshark.com/boyle or use code BOYLE at checkout to get 4 extra months of Surfshark! Last month Meta agreed to pay up to $18 billion dollars to settle claims that it knowingly harmed teenagers — a number the press immediately called Big Tech's "tobacco moment." Wall Street responded by sending the stock up. In this video I read the actual 130-page consent judgment so that you don't have to, and work out what Meta really bought for its money. It turns out the headline figure is worth about two days of revenue, the "new" safety rules are mostly settings Meta had already written for itself, and the fine print lands rather more heavily on TikTok than on Meta. We'll also get into why the attorneys general took the deal, what Meta was actually paying to make disappear, and why the real reckoning might end up happening in a cinema rather than a courtroom. Meta's Internal Research Website: https://metasinternalresearch.org/ Patrick's Books: Statistics For The Trading Floor:
Tags: finance, trading, patrick boyle, on finance, cfa exam, kings college london, business school, quantitative finance, financial derivatives, personal finance, investing, investments, stock market, corporate finance, meta, mark zuckerberg
More from Patrick Boyle
- Is Russia Actually Losing? — Score: 50%
- The Real Reason European Cars Can't Compete — Score: 50%
- Brexit, 10 Years On: What It Actually Cost Britain — Score: 50%
- How to Lose a Global AI Monopoly in One Afternoon — Score: 50%
- How SpaceX Humiliated Wall Street — Score: 50%
- The Real Reason You Can't Afford a House — Score: 50%