Meta Platforms Inc (Meta), formerly Facebook Inc, is a provider of social networking, advertising, and business insight solutions. The bulk of the investment value of the firm is comprised over the two channels of business: (1) The Facebook platform and (2) the Instagram platform. The company conducts research with what they call the Metaverse, but this is an umbrella term for very different technologies, such as virtual reality which is an artificial world, and augmented reality which is the real world but with additional information overlaid - the latter is not conceptually profoundly different than how you overlay your world with the use of your mobile phone).

(One of Meta's business advantage - this is in my opinion - is that they have an existing such enormous audience, and can a large developmental payoff by sharing new platforms within the same moat (the most, in this sense, is the enormous number of customers). The best way to appreciate this is to imagine that you this month create some absolutely brilliant social software yourself. Despite this, you will have no customers - or almost no customers - and they are far, far harder to come by than you'd think in the early stages of a product release. We often don't see this because of survivorship bias in observing popular software now on the market. Compared to a firm with far fewer customers, this gives Facebook an enormous advantage for new social software products.)

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