Meta built the modern social network. Now it is spending billions on making it obsolete

Almost all of Meta’s money comes from ads shown to people on social networks. But you’d be forgiven for thinking otherwise.

That’s because so much of the discussion from within the company is about anything but social networks. Even down to its name, it would prefer you to think of it as a metaverse company – or, more recently, an artificial intelligence company.

That effort to move away from