Meta’s $40B war chest will be going to Wall Street
- Meta is repurchasing $40 billion worth of stock from investors, even as it cuts jobs.
- It's a move designed to prop up its share price, as its business and revenue growth stumble.
- Analysts say the FTC will likely prevent it from making major acquisitions, so this is a better use of the money.
Meta used to put its money towards fun things like employee perks, the metaverse, and acquisition binges. But as Meta's "year of efficiency" continues, …