Meta 的商业模式稳健；若预期资本开支能带来良好回报，则在低于历史平均估值时买入是合理的。
逐段跳播
我们来谈谈本周最大的新闻，那就是Meta推出了其面向消费者的产品Muse AI。
Let's talk about the biggest news of the week, which is Meta's launch of its consumer-oriented product, Muse AI.
然后是ChatGPT，当然还有Anthropic，它们曾拥有巨大的势头，而且现在依然如此。它们仍然拥有很强的势头。但现在有了Muse这款产品，它目前在大多数层级都是免费的。他们正试图吸引消费者使用它，而Zuckerberg非常擅长这一点。
Then ChatGPT, and of course Anthropic, had tremendous momentum, and they still do . They still have great momentum. But now you have the Muse product, which is currently free for most levels.
They are trying to attract consumers to him, and Zuckerberg is very good at that.
如你所知，Toby，我们在网站上为Amazon、Meta、Microsoft和Google做过交易，到目前为止它们都很成功。
As you know, Toby, we've done deals on the site for Amazon, Meta, Microsoft, and Google, and they've all been successful so far.
有趣的是它们增长路径的差异。自我们两个月前开始以来，Facebook的股价，以及更近期的Meta，都出现了大幅上涨。我的意思是，它们在最近几周出现了大幅上涨，
What is interesting is the difference in their growth paths. Since we started two months ago, Facebook shares, and Meta more recently , have seen a huge rise. I mean, they've seen a big rise in the last few weeks,
我认为我们相信Amazon和Metal的商业模式。当你能够以比历史平均水平更具吸引力的估值买入其股票，并且如果你相信投入这些巨额资本支出的最终资本回报会不错，那么我认为Bill Ackerman已经为此提出了很好的理由。
I think we believe in the business models of Amazon and Metal. And when you can buy its shares at valuations that are more attractive than historical averages, and if you believe that the ultimate return on capital invested in these massive capital expenditures will be good, then I think Bill Ackerman has made a good case for it.
这个频道对 $META 的历次判断
The Acquirers Podcast 在这只股票上共 2 条判断，这里只列相邻的几条。