Dear Mr Zuckerberg,

It does not appear that you have anyone in your company checking you on your bullshit. I can, so I will.

... The market doesn't trust you. American's have stopped using your platform. Your growth comes from 3rd worlders who don't have experience with your culture. Once people know you they dislike and want to get away from you. You cannot undo this in your lifetime.

... Your corporate structure has insulated you from the important feedback you need to escape your current circumstance. There are no consequences for your actions. Burn a pile of bibles in the street, or a school full of children, and you would still retain an iron grip of control on the facebook. You are in effect God within your realm. That realm is under attack and shrinking because of who you are and the culture you built. Trying to expand that culture to a new sphere will not stop the carnage at your border, or allow you to start over in a new dimension. Diem is dead because of you. Do you want to kill the metaverse too?

... The fact is, it doesn't matter how you answer that question. The market will not accept a metaverse built by you because everyone knows who you are and what you want.

... Spend your money however you like, but know that it is time for you to step down. My advice would be to find a philanthropic pursuit, or enter politics. Either endeavor will teach you important things you need to learn about yourself.

m.zuckerburg@facebook~#: /roll:2d6

result = 1, 1.

Snake Eyes

Ha, nobody cares. The most interesting thing about this earnings release is the off balance transactions that don't show up in the financial statements. Down in the footnotes of the 10-Q you'll find this gem:

In addition to the lease liabilities that are included on our balance sheet, we have operating and finance leases that have not yet commenced as of September 30, 2026. These lease obligations were approximately $355.73 billion, consisting of data centers, energy-related infrastructure, colocations, and certain network infrastructure, which will commence during the remainder of 2026 through 2036 with lease terms ranging from greater than one year to 30 years.

As of September 30, 2026, we had $454.52 billion of non-cancelable contractual commitments, comprising both short-term and long-term arrangements. These commitments mostly relate to third-party cloud capacity arrangements and investments in servers and network infrastructure, energy service agreements for data centers, and consumer hardware products in Reality Labs, with approximately $45.85 billion and $121.41 billion due in 2026 and 2027, respectively.

In addition, as of September 30, 2026, we have contingent obligations to purchase up to $14.72 billion of cloud capacity over a five-year period, which may be reduced if the cloud service provider is able to sell such capacity to other customers.

These numbers are materially higher than Q2:

Leases went from $346.99 to 355.73 or +8.74 billion
Non-cancelable commitments from 349.31 to 454.52 or +105.21
Contingent liabilities at 14.72 were flat Q over Q

It is strange how they phrase these things. Are the leases part of the non-cancelable commitments? No idea, but even if we give them the benefit of doubt and assume the leases are included, it's an additional $100+ billion in new off balance sheet liabilities accrued in a single quarter. For perspective that is 162% of total revenue generated over the same period. Anyone want to take a guess who the beneficiaries of those commitments might be?

Total shareholder equity of $272.38 billion minus $454.52 billion in off balance sheet liabilities leaves -182.14 billion dollars net.

Someone should call investor relations and ask if the leases are included. I'd do it, but I don't care. I'm out.