In today's update, we will go over Meta’s CY3Q22 results which ended being just as much about industry developments as it did Meta’s performance. In particular, we go over Neil’s thoughts on two problems found with Mark Zuckerberg’s plan on funding future bets and the ultimate bet Zuckerberg is making here.

Happy Wednesday.

Late last week, Apple released its 2022 10-K (58 pages). The tentative plan is to go through the key takeaways from the financial filing tomorrow.

In today's update, we will go over Meta’s CY3Q22 results which ended being just as much about industry developments as it did Meta’s performance.

Let’s jump right in.

Meta 3Q22 Earnings

Last Wednesday, Meta reported 3Q22 earnings.

Here is an earnings recap table comparing Meta's numbers to those of Apple and Alphabet:

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