Facebook (Meta) cannot innovate. Their growth since inception is almost exclusively through acquisitions. Instagram, WhatsApp, and Oculus. The core Facebook product is arguably worse today than it was 15 years ago. Meta's response to new market entrants is to just copy their features, and when they do attempt to innovate it's just comically off-base (Metaverse). This entire "Metaverse" play is so ridiculous it's deep into meme territory.

Meta should have plainly seen the writing on the wall with regard to their data collection and privacy practices but either wouldn't, or more likely couldn't, pivot to new areas.

And now Zuck is here saying this hiring freeze is due to the economic situation. Peak comedy. The reality is Meta has no answer for TikTok, BeReal, Apple/Google privacy changes, or whatever else is coming to the market next.

I wish Meta nothing but the worst, but I'm sorry for any unfortunate souls who chose to work their and will be out of a job.