Maybe the most disturbing to many investors, the main Facebook Mobile App-the engine if you will-lost so many users in the quarter that the churn was bigger than acquisition…meaning less users at the end than at the start.

$10 billion (what a great recurring number for you lottery players) got lost somewhere in the metaverse as their Reality Labs Division (pay attention to the name) tries to carve out another data-sucking business, this time in Virtual Reality.Not insignificant, and possibly a hint of more to come as consumers realize they actually have control…finally. As I have written about since it's announcement, Apple's privacy features are a killer…causing a “headwind” as Meta put it that will cost it $10 billion in ad revenue this year.So, what gives? And what does it all mean for us-if anything? Meanwhile, Amazon’s value continues to grow, while Apple and MSFT remain strongly in the game…defying the analysts who should be hanging their heads in shame instead of wagging on with excuses. In my cynical view, that just shows how overvalued they are…a loss like that is immaterial to any of their lifestyles or their view of future value knowing their investors as they do. Meta, you can run but you can’t hide… lost $230 Billion in value in one day…now I get that’s a hard number to visualize, especially given the money that our Billionaire Celebrities spend on space flight and personal training…so to put it in perspective, inflation and time shift adjusted, it's equal to the Black Tuesday wipe-out of October, 1929 when our entire economy went down the tubes and newly destitute financial types hurled themselves from windows on Wall Street. How could I not start the week by commenting on the recent fall from grace and valuation of Meta (formerly Prince…Oh sorry, wrong narrative), the “Parent Company” of Facebook? And in my view, cynical as it may be, the possible foreshadowing for other so-called Tech Giants and their future?

What does fall from grace mean