The spending has hurt the Silicon Valley giantβs cash flow, which turned negative. Meta said it would issue a new class of stock to help it raise more money.
Metaβs annual conference last month in Menlo Park, Calif. The company received $22 million back from its American Technology Excellence Project and $3 million from a California advocacy group it funded.
Unlike celebrity influencers with large followings, these creators produce a blizzard of videos for a fraction of the cost of traditional online campaigns and, in the process, shift public conversation.
The measures, which fall short of a breakup demanded by the government, effectively ensure that the tech titanβs business will continue largely unscathed.
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