This slide deck makes me really uncomfortable.

1.8 Billion Active Users on Facebook in Q3 of 2020

Every user in the US brings gives Facebook about $40 in advertising revenue every quarter

Facebook made $21 BILLION dollars in advertising, just in Q3 of 2020

Facebook has an effective tax rate of between 4% (in Q3 of 2020) and 20% in Q4 of 2019.

You’re worth a bit less than $160/year to Facebook in advertising revenue. They made 70 Billion dollars last year, and have made almost 60B this year already (82% of what they made in 19). They are taxed in the low double digits.

My questions to you: - Did you get $160 worth of value out of Facebook? - What’s your annual tax rate?

My guess is it’s No to the first question and a lot more than 4% to the second.