on well established platforms such as facebook and instagram in the face of challenging economic conditions. those concerns have led meta and other tech giants to embark on a cost cutting campaign that has so far resulted in 150,000 lay offs across the sector. for more on meta s results and what they say about the state of big tech let s bring in ray wang, founder of tech advisory firm, constellation research. yeah, they showed that the digital add is fine, yeah, they showed that the digitaladd is fine, and i think that s a really important piece. and what you mentioned earlier is important. advertisers are flocking to the big platforms. if you don t have the users and the eyeballs, they are not going to be there. they were able to keep their monthly active users still at 2.99 billion, almost at 3 billion intact, and they were able to drive sales up 3% and give guidance that was much higher in between the 29.5 billion to 32 billion range. and that is coming on the heels of 20
but at the moment, meta really has to focus on finishing the meta verse to fulfil their promise of more immersive experiences and more opportunities to sell add and targeted personalisation. that will be that big driver in the future, but it is not all going to happen at once. the barriers are there, the headsets are clunky. they last for a short period of time. they need more advancement. and if they can get to that, they will get more people on board. people on board. what do you think this people on board. what do you think this signals people on board. what do you think this signals for - people on board. what do you think this signals for big - think this signals for big tech? it is notjust met out that we have seen results from, we have seen at their peak tech firms reporting. the we have seen at their peak tech firms reporting. firms reporting. the good news is that microsoft firms reporting. the good news is that microsoft did is that microsoft did better than expec