From Breakingviews - Mark Zuckerberg takes on Elon Musk
. And even during the best of times, Twitter was playing third string to Facebook and Instagram. In the year before it went private, it burned $370 million of cash. Meanwhile in 2021 Meta raked in $38 billion.
Meta’s cash flow has since fallen, but it’s possible that the two companies have diverged even more. Zuckerberg has a business model that knows how to monetize users, whereas Twitter is still figuring that out. In 2021, each one of Meta’s nearly 3 billion daily active users represented over $40 in revenue compared to $16 per Twitter user. Zuckerberg’s Twitter competitor may be in its early stages, but it already has a head start.
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