Yes, regarding the metaverse it is. But I think even if they weren’t trying to get into VR they’d be doing the same thing. The existence of other tech companies with massive margins and employee headcount impacts Meta’s bottom line, because it has to compete against them for hiring.

One of the things I like about Meta is they didn’t play into the wage collusion of Google, Apple and friends. Their expansion drove increased pay across the board in tech - but because Google was also in the advertising business they had similar constraints on max revenue per employee.

If AI supports even higher revenue per employee than advertising, which is entirely possible, it would undermine their strategy of having the best pay among big tech companies to attract top talent, because someone would have deeper pockets.

AI being a complement to Facebook because... their main customers are spamvertisers?