Meta's Crime Empire

Meta is just a cesspool of scam ads. It turns out that Meta from its own internal documents projects that 10% of its revenue in 2024 comes from advertisement of scams. That is $16 billion or the entirety of Spotify. from the document. One-third of all successful scams in the United States originate from Facebook and 53% of all payment related scams in the UK come from Facebook. To really put this into perspective, the approximate 2 1/2 years that Silk Road operated made the same in commissions as Facebook makes in 7.1 hours. So, how is this happening? Well, you may not realize this, but Facebook is a marvel of engineering and data collection. People that use Instagram, that use Facebook, are just pouring an enormous amount of information into the product. And Facebook has spent billions of dollars in engineering to create the greatest ads targeting platform of all time. Now, the best part about this is that the actual scammers have said on internet forums that it is easier to scam on Meta than it is on Google. It's truly a testament to Facebook engineering and just the power of using React. Now, you would probably assume that Meta is doing a good job managing these scam ads and that if you really reviewed the internal document, you wouldn't be upset or you wouldn't be filled with actual frustration because of course they're doing a great job, right? 96% of all valid scam reports are just flatout rejected. They do hope to do better and get up to 75%. So, hey, give them credit where credit's due. But right now, it's pretty much impossible to report a scam. So, if you're the lucky one and you do happen to get your report through and it's on a highv value account, it takes over 500 successful reports for them to consider deleting your account. That means 12,500 people have to report this scam. How many people have to get scammed before somebody who spends a lot of money actually gets taken down? Now, you would probably think that this has to be the worst of it, right? Right? No. No, it's not. It turns out if your account is spending 0.015% of all of Meta's revenue, the team responsible for taking down these kind of scammy accounts, they can't even touch you. So, so you know what that means? If you make enough off scams, as long as you keep on also promoting real products that you just sell off Amazon or some crap, you can just keep on operating because you're too big to fail. Somehow, that's not the worst of it all. Facebook has been promoting that they've been raising, you know, awareness about safety online and they partnered with somebody named Estabbon. Now, you're probably thinking, "Oh, Estabbon must be some sort of influencer. They probably being able to reach the youths." Yes, he did reach the youths with these lovely Instagram posts. For those that don't speak Spanish, this is how to survive Mercury retrograde according to your sign. Now, let me read you a couple of these little tidbits that Meta paid real money to get out there. Hey, if you're Libra, don't make promises you can't keep and don't share sensitive information with strangers. Hey, if you're a Capricorn, be patient with others. Also, enable two-factor authentication. How is that a Capricorn exclusive? I got to know. Okay, I don't [laughter] I know nothing about signs, but that has to be the most ridiculous exclusive of all time. Hey, guess what? For those non-Capricorns out there, also enable two factor authentication. Hey, Cancers, trust your gut feelings, but be cautious with people that are a little too flirty and asking for money. [laughter] Just like, you know, the the craziest part about this is that there was a there was a marketer who thought, you know, would be a great idea to reach the youth. We're going to do a horoscope series where you get tips on surviving Mercury retrograde and Facebook scams. And and the and the wild part is that there was not just that the marketer who had this brilliant idea. There was also a manager that looked at that and said, "Now this is a cause worth spending money on. [laughter] My gosh, how how do we live in this moment? It's just not even possible." All right, for this next part, I need to equip the old uh tinfo hat because this is going to get a little ridiculous. Okay, so I'm going to say some things. Uh first off, I don't think Meta wants to solve this problem. And why do I say that? Well, you may not be familiar with the LER curve, but the LER curve effectively describes that if a government taxes 0% or 100% it gets zero dollars, but there's like some value in the middle that they get the most amount of money on. Facebook Meta, if they take zero scam ads, they make zero dollars. If all of their ads are scams, they make zero dollars because then no one will trust any of the ads and clickthrough rate will fall to zero. So there's some number that they can maximize their revenue while still maintaining trust with people. And to me, this is proved with the scammiest scammer. To draw the attention of the company's perceived failures, an employee earlier this year began issuing reports to highlight the week's scamiest scammer. The report profiled whichever advertiser had earned the most user complaints about scams in the past week. Colleagues praised the initiative, but being namech checked in the report wasn't always enough for such an account to get shut down. A check by Reuters of five accounts cited in one of the scamiest scammer report found that two were still live more than 6 months later, including one that was running ads for an unlicensed online casino. You can't make this up. You like you just can't make this up. You just Oh my gosh. COME ON. GIVE IT UP. OH, COME ON. Now that is impressive meta. I mean to imagine you actually somehow got an employee to handpick scammy people for you and you still didn't ban him. Okay, this is not an automated system. This is not a AI gone rogue. No, this is one of your high performing employees that are like, "It's so bad. I need to take the law into my own hands. You had Judge Dread working for you and you didn't even LISTEN TO JUDGE DREAD. WHAT ARE YOU DOING?" TO REALLY KIND OF close my case, I'm going to take off my tin foil hat because I don't even need it for this last part. The documents note that Meta plans to try to cut the share of Facebook and Instagram revenue derived from scam ads. In the meantime, Meta has internally acknowledged that regulatory fines for scam ads are certain and anticipates penalties up to 1 billion according to one internal document. But those fines would be much smaller than Meta's revenue from scam ads. A separate document from November 2024 states that every six months, Meta earns 3.5 billion from just the portion of scam ads that present higher legal risks. They're not even financially incentivized to remove these ads. >> It makes me so sad that we're showing scam ads on on our platform. We might get sued. At the end of the day, the only thing that will make Facebook change their ways is if people stop engaging with ads overall because either Facebook has to deem that these scam ads are so bad that it's hurting real revenue or there's just no reason to remove them cuz they're going to make more money than they're going to get sued for. So, I think the takeaway that I have from all this is that I look out and I see Sorat too making all these amazing scam ads and man, Facebook's going to make so much money from ads. I I SHOULD BUY THEIR STOCK. This is not financial advice, but it is advised to press like and subscribe because it makes me feel better. So, press them now. 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