Hi YXI friends,

Remarkably, 40% of the world’s population uses one of Meta’s products, whether it’s Fecbook, Instagram, Reels, Threads, or WhatsApp.

It’s even more striking when factoring that China’s 1.4 billion population cannot even access Meta (or Google for that matter) due to the Chinese Firewall. Meta has essentially captured half of the remaining population, from teenagers to retirees.

Even Threads, X’s copycat rival, boasts 275 million monthly active users, with its content constantly being shown across other Meta platforms such as Instagram.

This begs the question - is there still any upside left as Zuckerberg has already conquered the world?

Let’s find out!

DISCLAIMER: This newsletter is strictly educational. Any information or analysis in this note is not an offer to sell or the solicitation of an offer to buy any securities. Nothing in this note is intended to be investment advice and nor should it be relied upon to make investment decisions. Any opinions, analyses, or probabilities expressed in this note are those of the author as of the note's date of publication and are subject to change without notice.

1. When The Users Are The Products

Remember that childhood dream you had about “if everyone in the country pays me $1, and I will be rich!” Even better (or worse, depending your view on social media), Meta can extract $12.3 per person from 3.29 billion people and keep a large chunk of it as profits.

98% of Meta’s revenue is just advertising on its various addictive social media platforms. While the Reality Labs stuff is cool, it is yet to make significant money. We won’t focus on it much today.

2. Growth Highlights

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