TIP848: Meta (META): What the Market Misses? w/ Daniel Mahncke & Shawn O'Malley

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Daniel Mahncke and Shawn O’Malley revisit Meta Platforms (NASDAQ: META), the advertising machine behind Facebook, Instagram, and WhatsApp that reaches 3.6 billion people every day — over 40% of the world’s population — and just grew ad revenue 27% to a nearly $240 billion annual run rate. Yet the stock trades more than 20% below its highs, because the money is going out even faster than it’s coming in: operating margins fell from 43% to 31% in a single year, quarterly free cash flow collapsed from $8.5 billion to $784 million, and capex guidance now sits at $130–145 billion this year — with analysts penciling in $200 billion for next. Daniel and Shawn dig into what all that spending…