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New York CNN —Burning Man, the desert confab that descended into chaos over the weekend, isn’t quite the scrappy, free-spirited revelry that it once was. For many watching the disarray of Burning Man from afar, the rain and mud that left 70,000 people stranded quickly became a symbol of the festival’s departure from its roots. Or, more simply: how the billionaires ruined Burning Man. Going to Burning Man is, in some elite circles, akin to having climbed Everest or taken ayahuasca on a meditation retreat — a spiritually transformative experience, undertaken with a considerable safety net of privilege. “Burning Man is the perfect example of how many rich White people recreationally manufacture hardship because they are immune from it systematically,” wrote one user on X, formerly Twitter, this weekend.
Persons: isn’t, Elon Musk, Recode, ” Mark Zuckerberg, Dustin Moskovitz, Elizabeth Holmes, , Andrew Hyde, Holly Yan Organizations: New, New York CNN, Facebook, New York Times, New York Post, CNN Locations: New York, San Francisco, There’s
The debate over whether Meta is in decline may get quietened, at least for now. After three straight quarters of falling revenue, Meta, the company formerly known as Facebook, on Wednesday reported that revenue for the first quarter jumped 3 percent, to $28.6 billion, from a year ago. The results, which surpassed Wall Street expectations and Meta’s own guidance, were bolstered by a growth in users. The company added 37 million daily users to Facebook, its marquee app, up 4 percent from a year earlier and a turnaround from its first-ever drop in users that it reported in early 2022. “We had a good quarter and our community continues to grow,” Mark Zuckerberg, the chief executive of Meta, said in a statement.
For the three months ended in September, Meta (FB) posted revenue of $27.7 billion, down 4% year-over-year and slightly above Wall Street analysts’ expectations. The Facebook parent company posted its first-ever quarterly revenue decline during the June quarter. The company reported net income of nearly $4.4 billion — less than half the amount it made during the same period in the prior year and below analysts’ projections. Meta reported having 2.96 billion monthly active users on its core Facebook app at the end of the quarter, up 2% year-over-year. “We are holding some teams at in terms of headcount, shrinking others and investing headcount growth only in our highest priorities,” Wehner said.
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