Understanding noise, utilizing noise (META)

Some time ago, when META had all kinds of NOISE, many people thought it should be kicked out of the M7.

NOISE:

- Large tax payments in earnings reports, significant capital expenditures but no short-term conversion to AI revenue;

- Fraudulent ads accounted for 10% of 2024 revenue, with lax enforcement;

- Team chaos, exorbitant hiring of ALEX WANG, departures of FAIR lab members like Tian Yuandong and Yann LeCun (Turing, world model), etc.

Stock performance:

From a peak of 795, it corrected to 580, nearly a 30% drop.

Core moat:

From the AI table, it requires computing power, models, and traffic entry points. GOOG's Gemini could overtake in a year or two. Is META overly pessimistic at this point? Moreover, its traffic entry point is probably the strongest among the M7, with 3 billion daily active users, not even counting the East. META is destined to have a seat at the table.

Also, the founder, the world's second-richest person born in 1984, I think he's the most driven and ambitious in the M7 alongside Musk, so volatility is normal.