1/ Notes from $FB 2Q'20 call
1.8 Bn DAU/2.7 Bn MAU (+12% YoY)
9 mn active advertisers
180 mn businesses who use FB products
"...the tech industry is an American success story. Products we build have changed the world for the better and improved people's lives."
1.8 Bn DAU/2.7 Bn MAU (+12% YoY)
9 mn active advertisers
180 mn businesses who use FB products
"...the tech industry is an American success story. Products we build have changed the world for the better and improved people's lives."
2/ Zuck is reminding what $FB is and what it is not: "We do not profit from misinformation or hate"
~90% of the hate speech gets removed even before someone reports it. Unfortunately, even ~90% hit rate may lead to terrible optics and actual consequences given volume of content.
~90% of the hate speech gets removed even before someone reports it. Unfortunately, even ~90% hit rate may lead to terrible optics and actual consequences given volume of content.
3/ "It is incredibly disappointing because it seems like the U.S. could have avoided this current surge in cases if our government had handled this better."
~50% employees to be remote in next 5-10 yrs. Not to save costs, but to attract broader talents. Not mutually exclusive.
~50% employees to be remote in next 5-10 yrs. Not to save costs, but to attract broader talents. Not mutually exclusive.
4/ WhatsApp business grows from 5 mn to 50 mn. Why?
"It's a good, simple product execution and there's a ton of organic demand for people to interact with businesses."
"It's a good, simple product execution and there's a ton of organic demand for people to interact with businesses."
5/ 1 out of 3 companies didn't have website in the US. They all need to be online, and they can set up FB/IG pages in minutes.
1/3rd of SMBs reported min 25% of sales coming from digital channel in last 30 days.
1/3rd of SMBs reported min 25% of sales coming from digital channel in last 30 days.
6/ Top 100 advertisers contribute 16% of ad revenues which used to be 20% 4 yrs ago. SMB is the key and focus.
Q2 ad impressions +40%, avg price/ad -21%
Hiring up +32%. Repurchased $1.4 Bn stock.
Q2 ad impressions +40%, avg price/ad -21%
Hiring up +32%. Repurchased $1.4 Bn stock.
7/ Outlook
DAU/MAU to be flat or down in Q3 as covid eases
Multiple headwinds: macro uncertainty regarding stimulus, ad boycott, ad targeting/measurement due to CCPA and Apple's IDFA changes
DAU/MAU to be flat or down in Q3 as covid eases
Multiple headwinds: macro uncertainty regarding stimulus, ad boycott, ad targeting/measurement due to CCPA and Apple's IDFA changes
8/ Zuck is excited about Shops, and messaging commerce. Shops just makes a ton of sense.
9/ I cannot think how this ad boycott can possibly continue if DAU/MAU level remains where it is. Unless of course, the boycotting companies don't have the money to spend on ad.
10/ *Jio, not Geo (from raw transcripts)
India is the largest user base. I think India will be a recurring and more in-depth topic of discussion 5-10 years down the line, if not sooner.
India is the largest user base. I think India will be a recurring and more in-depth topic of discussion 5-10 years down the line, if not sooner.
End/ Zuck gets it: "...gaming is going to be increasingly important in the future"
That's it.
"Great quarter, guys"
That's it.
"Great quarter, guys"
