The Independent Thinking

The Independent Thinking

The Insights

It makes no sense

Sometimes we see, we hear them, sometimes someone recommends something, it's as if, we were subject to these influences...

Marcelo Marini's avatar
Marcelo Marini
Aug 15, 2025
∙ Paid
3
2
Share

Dear reader,

Meta’s advertising business has been the foundation of its financial health. In 2024, about US $161.8 billion came from ads — it represents 98.4% of the total revenue. Over the past decade, advertising represented between 97% and 99% of Meta’s total revenue.

Meta Platforms Advertising Revenue (2014-2024) Source: OpenAI

We wonder, why companies invest an important portion of their revenue in ads. It’s something with AI? It’s Bitcoin? It’s the Margin of Safety concept? What’s the technology behind Ads? Why much is invested on it? It may appears its worth…

Share

Keep reading with a 7-day free trial

Subscribe to The Independent Thinking to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Factual Manhattan L.L.C.
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture