“We think we can build a substantial sized business around paid messaging, which will complement that as well.”

In context

“ly, the investments that we are making in product areas like Reels and the business messaging platform at WhatsApp are ones that we think will have a significant payoff for the – in business, both in terms of engagement and monetization. So, we are making a wide portfolio of bets. Still, the majority of our spending is directed towards our Family of Apps investment, and those are across both engagement and monetization, leveraging AI in many cases. And we are making good progress on those fronts and then leveraging as well what is today a fairly under-monetized resource in terms of our messaging platforms, building more scale around those as being a source of future revenue growth. We have already proven it out with our business – our click-to-message ads with a $9 billion business today. We think we can build a substantial sized business around paid messaging, which will complement that as well. So, I think we have got a lot of bets across the Family of Apps portfolio in addition to the work that we are doing on Reality Labs and the metaverse. Mark Zuckerberg: Yes. I mean I just say that there is a difference between something being experimental and not knowing how good it’s going to end up being. But I think a lot of the things that we are working on across the Family of Apps are we are quite confident that they are going to work and be good. The Reels work, the discovery engine work, all the ads work on signals, the business messaging work, we can’t tell you right now how much – how big they are going to scale to be. But I think that each of these things are kind of going in the right direction. Obviously, the metaverse work is a longer term set of efforts that we are working o”