ok, I'm here. Facebook earnings. Since they're getting clobbered, I expect they'll talk a lot about shiny new things and blame underperformance on "competition" as because any pressure on growth will be used as a defense for their antitrust lawsuits with state AGs and FTC. /1
drinking game for 5pm, have a drink every time Mark, Sheryl or Dave use a derivative of the word "compete." Pace yourselves. /2
This is the FUD section still as I pointed out Q2 last year. Just in case anyone wants to ask Facebook to finally disclose arguably the most important metric to their ads business and 97%+ of their revenues. /3
https://twitter.com/jason_kint/status/1420493979230085122?s=20&t=jHJTqwzxcIubRgOWyLLdDQ
Or maybe this thread a year ago is better. ps it appears Zuckerberg's word of the day is "competition" and Sandberg's is "headwinds." /4
https://twitter.com/jason_kint/status/1387552169231007748?s=20&t=jHJTqwzxcIubRgOWyLLdDQ
Another thread on the underlying dynamic. There are movements in California, FTC, Congress, Brussels/EU, UK, Australia, Germany all putting pressure on this on top of changes by Google and Apple. And almost no one trusts Facebook on these matters. /5
https://twitter.com/jason_kint/status/1394654554617229314?s=20&t=jHJTqwzxcIubRgOWyLLdDQ
When the CFO says "monitoring the viability of transatlantic data transfers" he's not noting they've been found it violation at multiple levels. And in a separate lawsuit in NdCal, Facebook is arguing it can't even disclose all of a user's data which is sort of a BIG problem. /6
transition here. Facebook and its "friendly" analysts call your privacy, "signal loss." CFO just said it will cost them $10 billion in the next year. /7
Holy $&%^, Facebook's CFO just threw a major punch at Apple and Google in one sentence which has no chance in hell in landing. /8
It sounds like Zuckerberg is just freewheeling here between talking points and making very little sense. This is bad. /9
Sandberg just said the most impressive compilation of word salad in the history of earnings calls to reframe how privacy enforcement against Facebook's surveillance to suggest it's hurting small business. I'll find it later. Amusing to me. /10
Which word has Facebook said more frequently on their earnings call? (I'll calculate later but my $ is on "headwinds"): /11
the CFO, the same one who chose not to disclose on an earnings call that they were inflating potential reach, just offered a very unfulfilling answer to explain their estimate of a $10B "headwind" to revenue from apple's privacy changes. Why not say what % of users opt out?? /12
As CEO Mark Zuckerberg plays prophet as to the shift to video and virtual, a reminder in 2015 he said, "five years to all video" and then were later sued for fraud due to a massive metrics issue inflating this "pivot to video" story. /13 niemanlab.org/2018/10/did-fa… 
Here is a thread with some audio and the answer to the poll. We were all right. Headwinds won it. By a landslide.
https://twitter.com/jason_kint/status/1489097679204409345
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