At the same time, that quest for the next big thing is performative, it's theater for the investors, and exactly what I'm talking about.

It was objectively bad for facebook's net profits to pour over $10 billion into the metaverse, what they gambled would be the next big thing, but the perception that they were cooking up something new, even if that was a massive waste of money, was better for their valuation than the sense that they were just resting on their laurels.