Is this a case of companies just spending money on ads, but not actually checking the effectiveness of their ad spend?
Can anybody find some forensic analysis of these numbers or who are the customers? Intuitively they are just so hard to believe.
Meta as a company is doing quite well, Facebook the product which is closer to a ghost town filled with Al slop.
Facebook has been probably is much smaller contributor of revenue than other business lines for years so their further slide has not impacted revenue as much .
If you have an online advertising budget and there's only two companies to spend it on... well you don't really have a choice do you?
Meta says they have 3.48 billion people use their apps daily. That's 62% of ALL global internet users (5.65B total). Lets do a reality check...
YouTube (2nd most visited site): 122 million daily users.
Amazon (largest e-commerce): 310 million total active users..
Meta claims 28.5x more daily users than YouTube!
Its also a geographic impossibility....
China has 1.1B internet users, but Facebook, WhatsApp, and Instagram are all BANNED there. India has 881M internet users. Meta somehow has 3.48B daily users while being blocked from the world's largest internet market?
Also I see a revenue paradox. For Meta's Q2 2025: $47.5B revenue ÷ 3.48B users = $4.55/user/month while Amazon: ~$700B annual ÷ 310M users = $188/user/month
So Meta claims to capture 75% of social ad dollars but users only spend 41.8% of social media time on their platforms. Their ad revenue is completely disconnected from actual usage.
Conclusion: The numbers don't add up. YouTube has transparent metrics showing 122M daily users as the #2 website globally. Meta claiming 28x that number while being banned in China is absurd. They're likely counting every WhatsApp ping, dead Facebook account, and Instagram bot as a "daily active user" across all their apps.
Marketing fiction at its best.
I don't think META is the only company cooking the books, Apple's is cooking the books as well. The number of people I see upgrading to Iphone 16 is the lowest in years. Apple reported it was from sales in China, my chinese friends said no one is buying IPhone this year because of the tariff wars and chinese phones are so much better than Iphone.
There is alot of accounting tricks in recent tech earnings report with AI, they are all playing account trick with AI infrastructure spend, funneling the infrastructure spend into revenue and profits.
No Javascript required
echo url=https://www.ft.com/content/83250c1a-18f0-47fb-9748-257e9c848aa1 \
|curl -K/dev/stdin -A "Mozilla/5.0 (Java) outbrain" > 1.htm
firefox ./1.htm
ed_mercer•6mo ago