00:00Meta's share price went down to around $100 a share, which is the lowest level since around 2016.
00:06And there's a couple reasons for that, but the biggest reason is because their income has been
00:10going down and their expenses have been going up. Their overall net income, for example,
00:14is down 52% in Q3 of this year and their expenses are up 19%. But what's crazy is how much money
00:21they told us they're going to spend just to operate their business this year, which is
00:24anywhere between $85 to $87 billion. But reason number two is what they told us they'll spend
00:30next year. That's estimated to go up between $96 to $101 billion in 2023. And the reason that this
00:37is huge is because last year was Meta's most profitable year when they made $117 billion.
00:44But they're telling us that next year they're going to make less money and they're going to
00:48spend more money. Investors don't like that, so they sell the stock.
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