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From the heart of where innovation, money and power collide,

in Silicon Valley and beyond,

this is Bloomberg Technology with Emily Chang. I'm Emily Chang in San Francisco and this is Bloomberg Technology coming up in the next hour.

Meta takes a beating as the making of the metaverse gets more and more expensive.

It is the second straight quarter of yearly revenue declines ever,

but there are some bright spots for Facebook and Instagram.

We'll discuss.

Plus, Elon Musk is in the building at the Twitter office,

where on Friday he will address the staff he reportedly plans to cut by 75% more details on a

Bloomberg scoop in a moment.

And it is one of the biggest IPOs of the year.

The CEO of Intel's self-driving startup, Mobilei,

tells us about the long road ahead.

All of that in a moment, but first I want to dig a little deeper now

into Meta's results with Jasmine Enberg,

principal analysts at Insider Intelligence.

Jasmine, of course, focusing in on the forecast and also

...