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Acquired / episode intelligence

Meta

28 Oct 2024 108 published claims 2 attributable people
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Speakers in the public record

David RosenthalBen Gilbert

Claim mix

belief 76commitment 9evaluation 9uncertainty 5recommendation 4prediction 3observation 2

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The useful parts, with receipts.

108 published records

07 / commitment

While we will of course discuss these events as part of our story and analysis, our goal today on this podcast episode is really to understand how it is that Meta became the dominant fabric that connects the human race, and why they’ve been so successful at continuing to win over and over again.

“While we will of course discuss these events as part of our story and analysis, our goal today on this podcast episode is really to understand how it is that Meta became the dominant fabric that connects the human race, and why they’ve been so successful at continuing to win over and over again.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

08 / belief

As you looked at not the high level metrics of how many users have ever signed up, because MySpace and Friendster, I think we’re still way ahead at this point, if you looked at how’s this going to play out if it keeps compounding and you looked at the deeper metrics, you thought, oh, I’m running the better company by a lot.

“As you looked at not the high level metrics of how many users have ever signed up, because MySpace and Friendster, I think we’re still way ahead at this point, if you looked at how’s this going to play out if it keeps compounding and you looked at the deeper metrics, you thought, oh, I’m running the better company by a lot.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

09 / evaluation

The scarce commodity is trust. That is the important lesson here. It’s also a very convenient infrastructure decision, where if these two systems truly don’t need to talk to each other, that’s great.

“The scarce commodity is trust. That is the important lesson here. It’s also a very convenient infrastructure decision, where if these two systems truly don’t need to talk to each other, that’s great.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

22 / observation

Despite that nefarious-sounding nature to the last one there, especially, Civ in 4X games were this radical branch of video games at the time where the action of playing and the way to win wasn’t just about killing all the enemies on screen.

“Despite that nefarious-sounding nature to the last one there, especially, Civ in 4X games were this radical branch of video games at the time where the action of playing and the way to win wasn’t just about killing all the enemies on screen.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

30 / belief

In fact, Accel had limited partners drop out of this fund who were LPs previously, including your beloved Princeton, including Harvard, I mean big, and I think Stanford was one of the only ones that really stuck with them for this $400 million fund.

“In fact, Accel had limited partners drop out of this fund who were LPs previously, including your beloved Princeton, including Harvard, I mean big, and I think Stanford was one of the only ones that really stuck with them for this $400 million fund.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

32 / belief

There are markets in the world today where I think Meta has run this test, where if you turn off ads in the Meta family of apps products, engagement in those products actually goes down, which is just freaking wild.

“There are markets in the world today where I think Meta has run this test, where if you turn off ads in the Meta family of apps products, engagement in those products actually goes down, which is just freaking wild.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

38 / commitment

We are going to do a seven powers analysis of what enables Meta to achieve persistent differential returns, or to put it another way to be more profitable than their closest competitor and do so sustainably.

“We are going to do a seven powers analysis of what enables Meta to achieve persistent differential returns, or to put it another way to be more profitable than their closest competitor and do so sustainably.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

40 / belief

Obviously, Snap was more a competitor and WhatsApp turned into an acquisition and is now a big part of Meta and part of the company. But I think together what they represent was this next fundamental shift in the consumer social landscape, which Mark totally picked up on and ultimately announced as the core of the company’s product strategy in 2019, which was the default social behavior was moving from town square, which was the old Facebook paradigm of, hey, we’re all in this together.

“Obviously, Snap was more a competitor and WhatsApp turned into an acquisition and is now a big part of Meta and part of the company. But I think together what they represent was this next fundamental shift in the consumer social landscape, which Mark totally picked up on and ultimately announced as the core of the company’s product strategy in 2019, which was the default social behavior was moving from town square, which was the old Facebook paradigm of, hey, we’re all in this together.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

49 / belief

Again, the chutzpah here. They raise $16 billion at a $104 billion market cap, making it (I think) the third largest IPO of all time at that point behind Visa, and ironically General Motors coming out of the bankruptcy during 2008.

“Again, the chutzpah here. They raise $16 billion at a $104 billion market cap, making it (I think) the third largest IPO of all time at that point behind Visa, and ironically General Motors coming out of the bankruptcy during 2008.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

50 / belief

I think Mark and Schrep had to make this point to Yann, and then when Yann joined it made the point to the rest of the industry that this is not something that’s going to wax and wane with our financial results.

“I think Mark and Schrep had to make this point to Yann, and then when Yann joined it made the point to the rest of the industry that this is not something that’s going to wax and wane with our financial results.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

52 / belief

The most interesting thing that I think hit me in the face like a ton of bricks, Zuck after all the 2016 election fallout, the shift in public perception, and having to do all this testifying, is like watching an alternate future for Microsoft where Bill Gates had decided to stay at the helm instead of leaving after the DOJ case.

“The most interesting thing that I think hit me in the face like a ton of bricks, Zuck after all the 2016 election fallout, the shift in public perception, and having to do all this testifying, is like watching an alternate future for Microsoft where Bill Gates had decided to stay at the helm instead of leaving after the DOJ case.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

54 / belief

With such a small user base at that point in time, I think probably certainly less than 10 million users, to have 200 million-plus page views every single day and be passing Google in traffic is wild.

“With such a small user base at that point in time, I think probably certainly less than 10 million users, to have 200 million-plus page views every single day and be passing Google in traffic is wild.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

58 / belief

While probably YouTube to a certain extent, TikTok perhaps, also have similar strengths here, I doubt there is any other company in the world capable of actually operating privacy, integrity, and security.

“While probably YouTube to a certain extent, TikTok perhaps, also have similar strengths here, I doubt there is any other company in the world capable of actually operating privacy, integrity, and security.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

59 / belief

I think often without knowing it, everything from the posters on the walls with your mantras and your values to almost having an employment brand that you really care about, cultivating to the idea of we’re having just as much fun together socially as we are working together.

“I think often without knowing it, everything from the posters on the walls with your mantras and your values to almost having an employment brand that you really care about, cultivating to the idea of we’re having just as much fun together socially as we are working together.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

60 / belief

The key thing that they discover for New Year’s, there’s joining Facebook about whether they become an engaged, active, evangelizing user or not, is how many friends they get in the first (I think) 24 hours or 48 hours or short period that they’re joining the network.

“The key thing that they discover for New Year’s, there’s joining Facebook about whether they become an engaged, active, evangelizing user or not, is how many friends they get in the first (I think) 24 hours or 48 hours or short period that they’re joining the network.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

62 / belief

I do have a sunk cost in building a following on a given platform, but that doesn’t actually prevent me from also launching on another platform if you have the time to do that. I think there might actually be process power.

“I do have a sunk cost in building a following on a given platform, but that doesn’t actually prevent me from also launching on another platform if you have the time to do that. I think there might actually be process power.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

65 / belief

I think that really is the “deal” they make. They say, and Sheryl agrees too, it’s not like, hey, Mark said you’re going to take this side of the company and I’m going to take that side of the company.

“I think that really is the “deal” they make. They say, and Sheryl agrees too, it’s not like, hey, Mark said you’re going to take this side of the company and I’m going to take that side of the company.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

71 / belief

I think Meta might look extremely different 20 years from now than it is today, almost unrecognizably because this company moves like water in response to whatever the new shape of the world is.

“I think Meta might look extremely different 20 years from now than it is today, almost unrecognizably because this company moves like water in response to whatever the new shape of the world is.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

73 / belief

I think Facebook for the first time stepped in it and realized, oh, even though technically this data has always, we didn’t change how public or private it is, it’s just as accessible, people react really strongly when you change the ease of obtaining that information or whether it feels like you are pushing that information out versus someone is pulling by going to your profile and viewing.

“I think Facebook for the first time stepped in it and realized, oh, even though technically this data has always, we didn’t change how public or private it is, it’s just as accessible, people react really strongly when you change the ease of obtaining that information or whether it feels like you are pushing that information out versus someone is pulling by going to your profile and viewing.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

75 / belief

The first thing is I think Mark had always operated the company this way, but now he gets real religion of like we need to get more revenue and we need to focus on becoming truly cash flow positive, so that we are never in a position again where we would even consider doing something like this.

“The first thing is I think Mark had always operated the company this way, but now he gets real religion of like we need to get more revenue and we need to focus on becoming truly cash flow positive, so that we are never in a position again where we would even consider doing something like this.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

76 / belief

Yeah, I think about nine total months. Sean ends up leaving the company after charges get filed against him as a result of some drug incidents at a house party during a trip to North Carolina.

“Yeah, I think about nine total months. Sean ends up leaving the company after charges get filed against him as a result of some drug incidents at a house party during a trip to North Carolina.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

77 / belief

I think Flickr may have had it, but the idea that you’re tagging a person and then you can go browse that person’s profile by photos they’ve been tagged in, that wasn’t brand new innovation.

“I think Flickr may have had it, but the idea that you’re tagging a person and then you can go browse that person’s profile by photos they’ve been tagged in, that wasn’t brand new innovation.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

90 / commitment

By buying it, we basically get this option on if it becomes a competitor, if we completely leave them alone and let them decide what to do. But then there’s also, look, we will integrate those mechanics into our core product, Facebook, the blue app that already has well-built out network effects.

“By buying it, we basically get this option on if it becomes a competitor, if we completely leave them alone and let them decide what to do. But then there’s also, look, we will integrate those mechanics into our core product, Facebook, the blue app that already has well-built out network effects.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

92 / belief

The things he cared about were product and engineering and design, and he wanted to outsource everything else or at least have someone else at the company think about it. Having Microsoft take care of the ads was (I think) in his mind a win-win.

“The things he cared about were product and engineering and design, and he wanted to outsource everything else or at least have someone else at the company think about it. Having Microsoft take care of the ads was (I think) in his mind a win-win.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

93 / belief

I think Apple was hoping in its heart of hearts that this would shift a lot of those dollars into ads in the app store, and the reality is people just don’t go to the app store searching for apps anymore.

“I think Apple was hoping in its heart of hearts that this would shift a lot of those dollars into ads in the app store, and the reality is people just don’t go to the app store searching for apps anymore.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

96 / belief

If yes, then it’s process power. In this case I think that’s potentially true. Yeah, you can bring in new engineers, you can bring in new product people, and transfer the advantage to them.

“If yes, then it’s process power. In this case I think that’s potentially true. Yeah, you can bring in new engineers, you can bring in new product people, and transfer the advantage to them.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

97 / belief

The second thing that I think is in your description a little bit is the idea of social ads that brands could take interactions that happen on pages and boost them, but they couldn’t just take out a regular old ad.

“The second thing that I think is in your description a little bit is the idea of social ads that brands could take interactions that happen on pages and boost them, but they couldn’t just take out a regular old ad.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

100 / prediction

If they own the next platform, not only will they do everything that you’re just talking about of like, oh they’ll have an iPhone-sized business because if it turns in to be glasses and Reality Labs, they’re going to be selling the hardware and maybe they can make that profitable like the iPhone is profitable, et cetera.

“If they own the next platform, not only will they do everything that you’re just talking about of like, oh they’ll have an iPhone-sized business because if it turns in to be glasses and Reality Labs, they’re going to be selling the hardware and maybe they can make that profitable like the iPhone is profitable, et cetera.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

101 / evaluation

I think the answer is they want to be as durable as a company that makes hardware with an operating system, that all the users use and all the developers have to target because all the users are there.

“I think the answer is they want to be as durable as a company that makes hardware with an operating system, that all the users use and all the developers have to target because all the users are there.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

104 / prediction

If they really are saying, this is the new first class product, this is where we’re going to point all advertisers toward, if they’re wrong on that, they’re wrong across the whole board, because if ads suck on mobile, since it’s the only thing and it’s filling up your whole screen, user engagement is also going to nose dive.

“If they really are saying, this is the new first class product, this is where we’re going to point all advertisers toward, if they’re wrong on that, they’re wrong across the whole board, because if ads suck on mobile, since it’s the only thing and it’s filling up your whole screen, user engagement is also going to nose dive.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

105 / evaluation

I’m glad we waited do this episode because I think I would’ve had a pretty different take having only tried VR headsets, Vision Pro, and big googly things over the years, I think I would’ve been unconvinced frankly because I didn’t think it was possible to put something in that small of a form factor.

“I’m glad we waited do this episode because I think I would’ve had a pretty different take having only tried VR headsets, Vision Pro, and big googly things over the years, I think I would’ve been unconvinced frankly because I didn’t think it was possible to put something in that small of a form factor.”
Speaker
Ben Gilbert
Episode
Meta
Publisher
Acquired

106 / recommendation

I’m going to help you go about fundraising, but I’m going to make sure we find the right people who are cool with that stipulation number one, because if you go try and do it by yourself, you don’t know enough, you don’t know these people, you’re not going to find the right folks.

“I’m going to help you go about fundraising, but I’m going to make sure we find the right people who are cool with that stipulation number one, because if you go try and do it by yourself, you don’t know enough, you don’t know these people, you’re not going to find the right folks.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired

107 / evaluation

I think only could have come from someone like Boz being focused on this problem, because as a product person and an engineer, it’s the only way that you’re going to have that insight that like, oh, this is the same problem we had when we launched newsfeed.

“I think only could have come from someone like Boz being focused on this problem, because as a product person and an engineer, it’s the only way that you’re going to have that insight that like, oh, this is the same problem we had when we launched newsfeed.”
Speaker
David Rosenthal
Episode
Meta
Publisher
Acquired
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