Meta has gone after AI in the same way they went after the metaverse, by splashing money around and rushing to build products fast. They’re spending tens of billions building out data centers and related AI infrastructure. They’re tossing out incredible compensation packages in the hundreds of millions of dollars to top AI researchers.

Facebook is now the cultural symbol for useless slop and disinformation, while ‘that’s so Reels’ is now a common insult for terrible shortform video content - and you get the first theory of Meta. It’s a laughable company whose core business is increasingly uncool, a company in decline, a company that falls flat on its face any time it tries to change things up.

Call Meta uncool all you’d like, metrics are up across the board. They’re getting higher user engagement, higher user counts, and they’re selling more ads at a higher price-per-ad. The numbers are up in virtually every way on every platform - Facebook, Instagram, WhatsApp and even Threads.

They can afford to make huge bets on speculative new technologies because they have more money than they know how to spend. Why not spend all that money on the metaverse or on AI? What else are they going to do with it? Zuckerberg still controls the company and he’d prefer to invest in new technology rather than just pay himself fat dividends. This is the second theory of Meta - a unbelievably successful company whose core business is booming and who spends a lot of money on speculative investments simply because they can.