I agree. I've seen things you people wouldn't believe... Attack ships on fire off the shoulder of Orion... I watched C-beams glitter in the dark near the Tannhäuser Gate. Regards having their loans lost in time, like tears in rain...

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Bros off that baby gronk no c

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I guess. But I know a lot of people making 7 figures and none of them are the gambling type. People actually working for a million dollars are busting their balls and know the value of a dollar. They're generally tightwads. But there's obviously plenty of trust fund kids, c-suite execs, etc that don't do tits and can do whatever they want.

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Yeah you can basically Audit a PhD (sans thesis/research) in Data Sci, CS, Applied Math, etc. through Harvard/MIT/edX.  If you can self-teach for the applied skills it's invaluable.  Only true struggle is with big data applications b/c you gotta pay for cloud compute. 

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Don't do it bro. Back in Feb 22 I tried to push into some eastern European markets, thought it'd be some easy three day flip and now I'm tits deep and can't exit my position b/c realized losses would end me

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Bought $53 C 8/2 Exp 2.2k position. Thought I was the man when they reported earnings and stock popped. But I realized again the little man will never win. Wall Street controls the stock. Sad. They got both our money

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The efficiency loss of the ads feels more of an indicator of the general macro environment (wallets tightening). My hypothesis is that you will see an uptick in their ad spend as ecommerce businesses try to claw back revenue , then once they finally realize that it is the economy not the ad spend it will fall - so I would expect in the next couple of quarters, not necessarily this one. Never underestimate the gamesmanship of the c-suite of companies to drive grove in a current quarter or couple of quarters.

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C A L L S

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c) Nancy is bullish 🥰

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I wouldn't expect serious analysis or useful feedback here, they're all under 20 and work at Wendy's. FWIW i started and ran an ecom business for nearly 15 years from 2005 (ie pre FB). It was a very different world but social and google ads never worked for us. It's a money churning treadmill that just makes mega cap tech richer and you beholden to them. I don't imagine that has changed. Google ads particularly were ridiculous. Their algo meant the ads didn't even break even til you were spending 25k a week and above that a good roi was like 5%. That was basically 80% of our turnover at that point. It was for us a black hole that we stayed out of (we had our own content business anyway and back then you had a lot more alternatives for advertising, particularly in our niche: sponsoring athletes, comps etc). It was also obviously bullshit as the roi was effectively decided by Google's algo which was entirely in their control. They simply played you against your competitors and arbed away everyone's profit. We had a compeitor who relied entirely on google ads and was turning over 50x what we were but making less (usually negative) profit. Tiny changes in Google's algos had massive effects on their business and a really big change was nearly an extinction level event (they did eventually go bust though for other reasons). We decided to stay small and highly profitable: it was less work and more money. I can't imagine running that kind of business now. Our edge was that we had a lot of IT experience in house and managed and built the infrastructure and software ourselves (the only ecom package available when we started was OScommerce and it was dog shit and AWS etc didn't exist). This kept costs minimal and control and margins high. This isn't possible anymore. I don't know what they charge but Shopify alone is miles better than what we had and it's practically impossible to avoid running in the cloud (despite it being much cheaper not to do so) simply because it's impossible to find devs and sysadmins who can and want to do that and they anyway only want to work for megacap tech and expect C-suite level salaries straight out of college. Where's the profit? I digress, but to my eyes their competitive bidding models were always going to bump up against a ceiling because there is only so much profit to leech and it's highly dependent on economic conditions. Meta have never been through a real recession, they're going to get a massive shock when it does happen: ad agencies are usually the first to go. (Another digression/prophecy: most companies have lost any handle on IT costs and the salaries they're paying aren't sustainable. When a real recession comes there's going to be a huge pull back and megacap tech is going to suffer badly as are their employees).

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