KATE THOMPSON DAVY: Is something rotten in the state of Meta, or will cuts and AI save it?
Despite the company suffering from a blow to ad revenue and legal challenges, it shows how the tech world is evolving
In tech news time — time as dense as a neutron star — it feels as if it has been an age since this column checked in with Meta Platforms, parent company of Facebook, Instagram and WhatsApp. Even though it has made many announcements lately, due to the Silicon Valley Bank collapse and launch of ChatGPT-4, Meta’s share of voice has been greatly diluted.
Now I get that a social media company well into its second decade, with a user base skewing towards middle age, is not as sexy as cutting-edge generative artificial intelligence (AI), but still, Meta’s relevance is hard to overstate. About 75% of all internet users, or 50% of the global population, are active on at least one of Meta’s platforms, and almost 80% of Facebook users engage with the platform daily. Every. Single. Day...
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