Welcome to the Tech Mem Right Home for Thursday, February 2nd Groundhog Day.

2023, I'm Brian McCullough today.

Meta single-handedly bucks the narrative that it's the sick man of Silicon Valley.

Twitter is cutting off free access to its API.

ChatGPT launches an actual product and is Bing Search getting GPT4 in like a matter of weeks.

Discord is coming to PlayStation and the wrap-up of yesterday's Samsung event.

Here's what you missed today in the world of tech. Narrative violation.

Meta's stock jumped 20% this morning after reporting earnings yesterday.

Yes, net income was down 55% year over year, but the family

of apps daily active users were up 5% to 2.96 billion people. So on one hand, 3 billion people use their services every day.

That remains incredible.

And on the other hand, it's still a good business.

As Tanjay Jaiporia pointed out on Twitter, quote,

Netflix makes around $190 a year from every paying subscriber in North America,

while Meta makes around $206 a year from every free active user in North America.

And quite frankly, on the third hand, if we had one, Meta clearly took pains to reassure investors this quarter. On the earnings call, Mark Zuckerberg

said Meta's management theme for 2023 is the year of efficiency and emphasized the company is aiming to

quote become a leader in generative AI.

They increase their share repurchase plan by about 40 billion dollars and as

we're going to get into in a second they signaled that they were cutting back on

spending so it was basically look guys we've heard your concerns we're cutting costs

getting leaner and also we're sprinkling in a bit of the latest hot buzzwords like generative

...