Elevenlabs Text to Speech

Overall:

Year-to-date:

I boosted my Meta stake by 9% today. Today’s weakness is based on a pair of negative rulings from courts in New Mexico and California. Google was also included in the California case, but New Mexico was just Meta. The total damages from these findings will be around $380 million (0.5% of its cash pile).

The rulings have investors concerned about renewed risks to Section 230. As a reminder, Section 230 prevents social media platforms like Meta and Google’s YouTube from being held liable for the content a user publishes on the apps. These cases attempted to circumvent Section 230 protections by claiming the design of the actual platform was the source of damages and addiction, rather than the content itself. The plaintiffs winning this argument will lead to fears of ongoing legal battles, and Meta potentially even needing to change the product features on its app to cater to regulators.

To me, this is simply another reason to be nervous and anxious about Meta amid the recent tech sell-off over the last several months. Even if Meta has to actually change its product in response to this legal pressure, I envision that change being very subtle and immaterial to the engagement and monetization momentum the apps are enjoying. While forced changes also aren’t at all certain, even if that does happen, this company’s massive user base, balance sheet, world-class legal team and beloved products will make it well positioned to stay far ahead.

The company has run into a plethora of different legal battles in the past. It has gotten through them better than skeptics assumed they would every time. I expect that to happen again here. I will continue to accumulate shares in what is already my largest position if the stock continues to decline.

*the order of the names in these lists below is meaningless.

My holdings that are performing & compellingly priced where I’d accumulate into modest multiple contraction:

My holdings that are performing & expensive where I’d accumulate into meaningful multiple contraction:

Watch List:

“If you were starting a portfolio today, what would it look like?”