Diet TBPN: October 30, 2025

Overview

This episode dives into the financial performance and strategic moves of major tech companies like Meta and Google, exploring their investments in AI, advertising, and side projects. It also touches on the cultural differences between these tech giants, the rise of AI-generated content, and the potential of OpenAI's IPO.

Notable Quotes

- Meta Platforms is one of the greatest businesses of all time. And the CEO is a little crazy. He's a bit of a wild card. – Speaker 2, on Mark Zuckerberg's bold leadership.

- The first trillion is the hardest. – Speaker 1, reflecting on Nvidia's rapid valuation growth.

- What's Meta's mission? Monetize the world's attention. – Speaker 2, critiquing Meta's overarching strategy.

📉 Meta's Financial Performance and AI Investments

- Meta reported record revenue of $51.2 billion in Q3, a 26% year-over-year increase, but its stock dropped 7% due to concerns over rising AI-related capital expenditures.

- Reels has grown to a $50 billion run rate, nearing the scale of U.S. television advertising spending.

- A $15.9 billion one-time tax charge impacted net income, highlighting the financial strain of AI investments.

- Speaker 1 questioned the sustainability of Meta's advertising-driven cash machine as the company ages.

🤖 Google's Diversified Business and AI Push

- Alphabet achieved its first $100 billion quarter, with $102.3 billion in revenue and $35 billion in net income, driven by digital advertising and cloud computing.

- Google's AI investments span Waymo, DeepMind, and Google Cloud, showcasing a diversified portfolio beyond search.

- The potential for AI-generated content on YouTube was discussed, with Speaker 2 envisioning a future where YouTube might not need to pay creators.

- Google's long-term commitment to projects like Waymo was contrasted with Meta's more volatile investment approach.

🧠 Cultural Contrasts Between Meta and Google

- Meta's mission to monetize the world's attention was juxtaposed with Google's academic, research-driven culture focused on organizing the world's information.

- Speaker 1 noted that Google's methodical approach led to innovations like Google Maps and self-driving cars, while Meta's pivot to AI and VR feels less aligned with its original mission.

- The rebranding of Facebook to Meta was debated, with Speaker 2 arguing the name has aged well despite initial skepticism.

📈 OpenAI's IPO and Market Comparisons

- OpenAI is preparing for a potential IPO with a valuation of up to $1 trillion, despite expected losses in the tens of billions.

- Speaker 2 highlighted the contrast between OpenAI's speculative growth and Meta's established, profitable business model.

- The discussion raised questions about the sustainability of massive AI investments and their long-term ROI.

🎥 AI in Media and Entertainment

- The rise of AI-generated content was explored, with Speaker 2 speculating on YouTube's potential to create videos without human creators.

- A Call of Duty movie collaboration between Taylor Sheridan and Peter Berg was announced, signaling the intersection of gaming and Hollywood.

- Nvidia's rapid valuation growth was celebrated, with Speaker 1 marveling at the speed of its trillion-dollar milestones.