Thread by @justinhendrix

"Hey everyone and thanks for joining today. We made good progress this quarter across a number of product priorities, and our community continues to grow. There are now almost 3.6 billion people who actively use one or more of our services..." politico.com/news/2021/10/2…

"...and I'm excited about our roadmap to keep building great new experiences for them. As expected, we did experience revenue headwinds this quarter, including from Apple's changes that are not only negatively affecting our business..." apnews.com/article/the-fa…

"...but millions of small businesses in what is already a difficult time for them in the economy. Sheryl and Dave will talk about this more later, but the bottom line is we expect we'll be able to navigate these headwinds over time..." cnn.com/2021/10/25/tec…

"....with investments that we're already making today.
Before I get to our product update, I want to discuss the recent debate around our company..." nbcnews.com/tech/tech-news…

"I believe large organizations should be scrutinized and I'd much rather live in a society where they are than one where they can’t be. Good faith criticism helps us get better." washingtonpost.com/technology/202…

"But my view is that what we're seeing is a coordinated effort to selectively use leaked documents to paint a false picture of our company." theatlantic.com/ideas/archive/…

"The reality is that we have an open culture where we encourage discussion and research about our work so we can make progress on many complex issues that are not specific to just us." politico.com/news/2021/10/2…

"We have industry-leading programs to study the effects of our products and provide transparency into our progress because we care about getting this right." wsj.com/articles/faceb…

"When we make decisions, we need to balance competing social equities, like free expression with reducing harmful content, or enabling strong encrypted privacy with supporting law enforcement..." usatoday.com/story/tech/202…

"...or enabling research and interoperability with locking down data as much as possible. It makes a good soundbite to say that we don't solve these impossible tradeoffs because we're just focused on making money..." apnews.com/article/the-fa…

"...but the reality is these questions are not primarily about our business, but about balancing different difficult social values." cnn.com/2021/10/25/bus…

"And I've repeatedly called for regulation to provide clarity because I don't think companies should be making so many of these decisions ourselves." washingtonpost.com/technology/202…

"I'm proud of our record navigating the complex tradeoffs involved in operating services at global scale, and I'm proud of the research and transparency we bring to our work. Our programs are industry leading." reuters.com/technology/fac…

"We have made massive investments in safety and security with more than 40,000 people and we are on track to spend more than $5 billion on safety and security in 2021. I believe that's more than any other tech company, even adjusted for scale." wired.com/story/facebook…

"We set the standard for transparency with our quarterly enforcement reports and tools like our political ads archive. We established a new model for independent academic researchers to safely access data." bloomberg.com/news/articles/…

"We pioneered the Oversight Board as a model of self-regulation. And as a result, we believe that our systems are the most effective at reducing harmful content across the industry." wsj.com/articles/faceb…

"And I think that any honest account of how we've handled these issues should include that. I also think that any honest account should be clear that these issues aren't primarily about social media." nytimes.com/2021/10/25/tec…

"That means that no matter what Facebook does, we're never going to solve them on our own. For example, polarization started rising in the US before I was born." wsj.com/articles/faceb…

"At the same time, independent research shows that many countries around the world have flat or declining polarization, despite similar social media use there to in the US." finance.yahoo.com/news/story-car…

"We see this pattern repeat with other issues as well. The reality is, if social media is not the main driver of these issues, then it probably can't fix them by itself either." wsj.com/articles/faceb…

"We should want every other company in our industry to make the investments and achieve the results that we have. I worry about the incentives that we're creating for other companies to be as introspective as we have been." politico.com/news/2021/10/2…

"But I am committed to continuing this work, because I believe it will be better for our community and our business over the long term." wired.com/story/facebook…

"We can't change the underlying media dynamics, but there's a different constituency that we serve that has always been more important and that I try to keep us focused on: and that’s people." cbsnews.com/news/facebook-…

"Billions of people use our services because we build the best tools to stay connected to the people you care about, to find communities that matter to you, and to grow your small business." bloomberg.com/news/articles/…

"And the reason we've been able to succeed for almost two decades is because we keep evolving and building. Facebook started in a dorm room and grew into a global website. We invented the News Feed and a new kind of ads platform." ft.com/content/abaf9e…

"We became a mobile-first experience. And then we grew a whole family of apps that serve billions of people. And there is so much more to build." wsj.com/articles/faceb…

"Even with all the tools we have today, we still can't feel like we're right there together with the people we care about when we're physically apart. We can't teleport as holograms to instantly be at the office without a commute..." apnews.com/article/the-fa…

"...or at a concert with a friend, or in your parents' living room to catch up. The creative economy and commerce tools are still nascent and there should be opportunity for millions of more people to make a living doing the work that they love." apnews.com/article/donald…

"Our three product priorities remain our focus on creators, commerce, and building the next computing platform. A big part of our work with creators is our focus on Reels."
washingtonpost.com/technology/202…

"Reels is already the primary driver of engagement growth on Instagram. It's incredibly entertaining, and I think that there's a huge amount of potential ahead." wsj.com/articles/faceb…

"We expect this to continue growing and I am optimistic that Reels will be as important for our products as Stories is. We also expect to make significant changes to Instagram and Facebook..." npr.org/2021/10/25/104…