Increasingly, Meta has been using debt to fuel its spending, amassing $59 billion in long-term debt on its balance sheet by the end of 2025, double the prior year’s total. And that doesn’t count the “aggressive” accounting it has used to keep the cost of a $27 billion Louisiana data center off its books. “The spending growth looks increasingly unsustainable,” The Wall Street Journal’s “Heard on the Street” columnist Asa Fitch wrote this week.

Now, as the company careens from one staggeringly expensive misadventure to another, its cash-cow core business is starting to wear out. Last quarter, the number of daily active users across its properties declined for the first time to 3.56 billion from 3.58 billion.

  • dan@upvote.au
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    1 day ago

    while charging advertisers more

    The major online ad networks like Meta and Google don’t actually set a price on most of their ads. It’s an auction system. Advertisers enter a bid for how much they’re willing to pay for their ads. When serving ads, the system displays the ads that have the highest bid for the user’s demographic.