Why Mark Zuckerberg had to announce 11,000 job cuts at Meta

There are a lot of reasons why Mark Zuckerberg felt he had no choice but to institute a bruising wave of 11,000 redundancies at Meta.

Meta is shedding staff from its profit engines to fund a megabillion investment in an uncertain future. The baffling thing is, underneath it all, Meta remains a tremendously profitable company, with multiple megascale social networks, a best-in-class advertising business, while its upstart Chinese rival TikTok struggles into uncertain geopolitical headwinds.