Meta has an operating margin of 54%.

For comparison, the average tech company runs on far slimmer margins. How does Meta manage such an edge?

The answer lies in their own Annual Report—specifically, the litigation section. They’re facing accusations of regulatory arbitrage, avoiding compliance costs, tracking users outside their platform, over-extracting personal data, inflating ad prices, manipulating ad auctions, under-investing in human moderators, shifting blame to contractors and gig workers, and aggressive tax avoidance.

If you’re going to teach people about what’s possible—like the broken window parable—it's crucial to show the full picture. Otherwise, they remain blind to the choices being made to sustain their narrative.