Welcome to the Tech Meme Right Home for Thursday, August 1st, 2021 I'm Brian McCullough today

so I guess Zuck has convinced Wall Street that all the Cap'

spending on AI is fine.

How good a business is Tether?

A good business.

The first arrival of Apple Intelligence

is sort of a ho-hum for now,

and how sports is completely transforming the

streaming wars battlefield. Here's what you missed today in the world of

tech.

Meta's stock is up this morning in pre-market trading after reporting Q2

revenue up 22% year on year net income up 73% year on year and the Family Daily Active People number was up 7% to a total of 3.27 billion.

But the interesting thing here is that the stock is up even though the reality labs unit is still losing money now to the

grand total of around 50 billion dollars since 2020 and guess what the spending on

AI research and development will continue so what appears to have

happened here is that Zuck has somehow found a way to explain away all the things that

had been concerning investors in recent years, at least in a way that

has actually gotten them on board with his spending again.

Quoting the New York Times's dealbook from this morning.

Another tech giant has run the gauntlet of investor worries about the cost of

commercializing artificial intelligence, except that this one passed with flying colors.

Shares and Meta are up more than 5% in pre-market trading even after the parent of

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