This. People forget markets are forward looking. Forward guidance matters more than a beat/miss on estimates.
Zuck is also kind of saying that their slice of the pie is getting smaller due to competition like Tiktok. That just kills sentiment.
Hard to say if the metaverse will play out favorably or if it is going to just be hype. If I were to tell my past self 10 years ago that this is the world we live in now with EVs and cryptocurrencies etc being mainstream I would certainly not believe it nor would I have bet the farm on Elon or Bitcoin
