100 billion must be in lost market capitalization, not real money, just like tesla is theoretically worth a trillion dollars, no one could recognize that money.
Good god I figured it must have been wrong as it’s such a large amount of money. I wonder how much of that they borrowed and how much they paid in cash. They might be paying astronomical interest payments on all of that.
Just goes to show how we have all the wrong people in charge in the west, at every level from government to business from the ceo on down to middle managers. Zuck is case and point. Well, as someone else posted, this article about their failure has legs. Unlike his stupid metaverse, that no one seemed even slightly interested in from the start.
Yeah, they bought a modest, niche product with a likely viable business case, and then bet they could make it an everyman’s device for all their socializing and experiencing events like sports and music…
The people that actually wanted the device got to take a back seat to them chasing non-existent markets for it… Their aspirations so impossibly high that a niche device could no longer justify itself against the money spent chasing that non-existant market… So something that should have been for some VR nerds to be happy and sustain the business while the rest of the world shrugs and say ‘I don’t get it’ becomes an ‘Obviously this is a failure of a concept and no one should bother doing this’.
Classic case of yes men-ism. Everyone around zuck tells him he’s the greatest, smartest, infallible. He likely removed anyone from his life that was willing to tell him he was wrong. He is making money hand over fist, and believes it, he’s special, the laser light of all knowledge shines out of his ass, don’t look directly at it or you can go blind. So he gets an idea, tells his people how he thinks everyone could get into it, they all heartily agree, what a great idea zuck!
I bet if anyone did tell him it wasn’t, he fired or removed them from his life, and still hasn’t apologized or made amends about it too, and instead doesn’t hold any sort of grudge against the people that told him he was right despite knowing better and being too craven to tell the truth.
The US economy has devolved from an economy where you gain money by making and selling things to an economy where investing in the stock market and then taking out loans on that stock to keep investing is a better way to keep making money. When was the last time someone rich became poor?
That is one of the ways they avoid taxes. They take out loans to pay old loans and to spend on the value of their investments at good rates, and since they never realize income they never pay taxes. I think interest is even tax deductible to a degree.
Bezos in 2020, a year his wealth multiplied obscenely, paid 600 dollars. Less than we did.
As per a couple of propublica articles they published around 2021.
He can afford to do it again and then again again. I guess the idea is to keep gambling in hopes of becoming the dominant comany in a massive industry.
Over $100 billion down the toilet and zuck is still one of the richest people in the world wtf?
100 billion must be in lost market capitalization, not real money, just like tesla is theoretically worth a trillion dollars, no one could recognize that money.
100 billion is a touch higher than I’ve read elsewhere, but evidently they actually spent $77 billion ‘real’ dollars:
https://finance.yahoo.com/news/mark-zuckerberg-threw-77-billion-143014208.html
Good god I figured it must have been wrong as it’s such a large amount of money. I wonder how much of that they borrowed and how much they paid in cash. They might be paying astronomical interest payments on all of that.
Just goes to show how we have all the wrong people in charge in the west, at every level from government to business from the ceo on down to middle managers. Zuck is case and point. Well, as someone else posted, this article about their failure has legs. Unlike his stupid metaverse, that no one seemed even slightly interested in from the start.
Yeah, they bought a modest, niche product with a likely viable business case, and then bet they could make it an everyman’s device for all their socializing and experiencing events like sports and music…
The people that actually wanted the device got to take a back seat to them chasing non-existent markets for it… Their aspirations so impossibly high that a niche device could no longer justify itself against the money spent chasing that non-existant market… So something that should have been for some VR nerds to be happy and sustain the business while the rest of the world shrugs and say ‘I don’t get it’ becomes an ‘Obviously this is a failure of a concept and no one should bother doing this’.
Classic case of yes men-ism. Everyone around zuck tells him he’s the greatest, smartest, infallible. He likely removed anyone from his life that was willing to tell him he was wrong. He is making money hand over fist, and believes it, he’s special, the laser light of all knowledge shines out of his ass, don’t look directly at it or you can go blind. So he gets an idea, tells his people how he thinks everyone could get into it, they all heartily agree, what a great idea zuck!
I bet if anyone did tell him it wasn’t, he fired or removed them from his life, and still hasn’t apologized or made amends about it too, and instead doesn’t hold any sort of grudge against the people that told him he was right despite knowing better and being too craven to tell the truth.
Bruh they definitely spent real money on developers and marketing.
The US economy has devolved from an economy where you gain money by making and selling things to an economy where investing in the stock market and then taking out loans on that stock to keep investing is a better way to keep making money. When was the last time someone rich became poor?
That is one of the ways they avoid taxes. They take out loans to pay old loans and to spend on the value of their investments at good rates, and since they never realize income they never pay taxes. I think interest is even tax deductible to a degree.
Bezos in 2020, a year his wealth multiplied obscenely, paid 600 dollars. Less than we did.
As per a couple of propublica articles they published around 2021.
The excellent article in question: https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax
Dang, I pay more in taxes in a single paycheck than bezos did in a year.
He can afford to do it again and then again again. I guess the idea is to keep gambling in hopes of becoming the dominant comany in a massive industry.
Trillion is the new Billion.