Behind Meta’s numbers lies a bomb
This analysis was first published in SvD Näringsliv, in Swedish, on August 21st, 2025. This piece was translated from Swedish by Claude. Some phrasing may differ from a human translation. Meta is posting record profits and investing more than ever in AI. But look closely at the accounting, and there’s a potential cost bomb hiding in the numbers. Some phrases become immediately memorable. In 2020, investor Puru Saxena posted the following brief comment on Twitter: […]