According to the FTX CEO, Facebook's growth stop did not have anything to do with newer competitors, but rather with the company itself.
However, SBF highlighted “the vague Meta guidance” and how the investors have decided to spend $10 billion per year in the Metaverse. The intent to infuse $10 billion yearly strengthens Zuckerberg’s position as a believer in the Metaverse.
On an end note, SBF reiterated that Facebook had already won by becoming the largest social media network. “So what's next? Start building Social Media 3.0,” concluded SBF.
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