Meta Platforms (NASDAQ: META) dominated the financial market headlines last week as Founder and CEO Mark Zuckerberg announced the company will be laying off roughly 13% of its staff, or more than 11,000 employees. While the news itself is not exactly positive, it contributed to the stock rallying substantially from its November lows. In my view, this decision shows that the management team at Meta has not gone completely delusional, recognizing that burning cash at past rates is completely unsustainable. That said, the metaverse is still going to be a cash vacuum whose future earnings potential remains completely unpredictable.
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