Introducing The Information’s New Financial Power BrokersRead Now

Meta CEO Mark Zuckerberg. Photo: Bloomberg

Meta Goes All-In on Reels; a Meme Account Gets VC Funding; Biden Moves on TikTok’s Security Threat

By  |  Feb. 2, 2022 5:18 PM PST
Photo: Meta CEO Mark Zuckerberg. Photo: Bloomberg

Meta Platforms is all in on Reels, the short-form video feature on its Instagram and Facebook apps. CEO Mark Zuckerberg and other executives mentioned it repeatedly, both in answer to analyst questions and as a top priority for the company. The metaverse, in contrast, got barely a mention. 

Meta’s earnings showed some disappointing stats, like the company’s first drop in its users in recent years and revenue projections that didn’t match up to Wall Street expectations. Zuckerberg, Meta’s CFO Dave Wehner and COO Sheryl Sandberg chalked up some of the headwinds to supply chain issues that cramped advertising needs and to Apple’s privacy changes that Meta has said makes its ad targeting less effective. Wehner estimates these changes could cost the company $10 billion this year. 

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Meet The Information’s New Financial Power Brokers
Photos via Goldman Sachs, Elliott Management, Bloomberg, the Berkeley Forum, JPMorgan Chase, Sequoia, UC Berkeley and YouTube.
Jamie Dimon won’t run JPMorgan Chase forever, and Marc Andreessen will one day give way to the next generation of investors. The Information has identified the bankers, executives and investors who could replace them by stepping into the upper echelons of the finance industry in the years to come. They are The Information’s New Financial Power Brokers: the people who will run...
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