Facebook isn’t growing anymore – TechCrunch
TechCrunchAPR 3 2022
Meta's profits rely on its access to user data, which is sold to advertisers. Its advertising revenues are sinking because of the privacy settings and policies introduced by device makers like Apple and regulators in the EU, which protect users against Meta's invasive tracking systems.
Zuckerberg's bet on the metaverse is a longterm plan to escape from its dependence on other company's platforms. In the meantime, Meta remains enormously profitable, with Facebook alone bringing in $33.67 billion last quarter, a 20% increase over last year.