Why Meta (FB) dropped 25% in one day?

Because of the "disappointing" 2021-Q4 fiscal report?

Because they "lost" +10B in Meta investment?

Beacuse TikTok is eating their lunch?

Because of Apple's privacy features?

Because they are "Evil" and the other social networks are the "Angels"?

Nop!

Let's have a look at a more business and less "accounting" approach:

Apple, Google, Microsoft, and Facebook are about to enter publicly to the next XR war, including VR optical devices, "metaverse ecosystems" and DeFi payments!

The first 3 players have proprietary OS platforms and the strongest community of developers, while the last player has the biggest users base.

Apple is the master of Hardware, Google the master of Software, and Microsoft the master of Copying!

Facebook, with 2B users, a strong metaverse R&D, but without a platform and a trusted Hardware, was overvalued and should fall at the pre-pandemic stock price (as you can see in the graph).

And this is what the big funds care about: In a volatile environment, based on this asset bubble of 2020 and 2021, they want a pragmatic valuation of the 4 players, before the forthcoming XR and DeFi market war!

Fasten your seat-belts!

NOTE: The writer is long in the first 3 companies. From this week super long on FB! (I was fortunate to meet Mark, in mid-2009 and he is undoubtedly the smartest introvert I ever talk with! And definitely the greatest entrepreneur of his generation !)