How Meta’s Reels Became a $50 Billion Business Once a TikTok wannabe, Instagram’s video feature is now a hit with users and advertisers. Can it make the leap to television?

Happy new year! For my first story in 2026, I looked at how Meta's Reels grew to a $50 billion run rate in 2025.

2020: Meta launches Reels
2022: Users spend 10x more time on TikTok
2023-25: IG promotes OG content/pays creators to post, algorithm gets better
2026: Now TV
www.wsj.com/tech/meta-re...

Exclusive | OpenAI Ends ‘Vesting Cliff’ for New Employees in Compensation-Policy Change The ChatGPT maker and its competitor xAI have relaxed restrictions meant to keep new hires from leaving in the midst of a fierce talent war

Scoop: OpenAI ended a policy earlier this week that required employees to work at the company for six months before their equity vested.

A few months ago, xAI shortened their waiting period, known as a "vesting cliff" from 12 months to 6.

www.wsj.com/tech/ai/open...

He’s Been Right About AI for 40 Years. Now He Thinks Everyone Is Wrong. Yann LeCun invented many fundamental components of modern AI. Now he’s convinced most in his field have been led astray by the siren song of large language models.

LeCun: “I’ve been not making friends in various corners of Silicon Valley, including at Meta, saying that within three to five years, this [world models, not LLMs] will be the dominant model for AI architectures, and nobody in their right mind would use LLMs of the type that we have today."

Meta has been on a pop-up shop spree, opening stores in Los Angeles, Las Vegas, Burlingame & most recently NYC on Friday.

I interviewed Meta’s creative director about the strategy behind the stores, & we sent a photographer to capture the vibes. For @wsj.com

www.wsj.com/tech/ai/meta...

He’s Been Right About AI for 40 Years. Now He Thinks Everyone Is Wrong. Yann LeCun invented many fundamental components of modern AI. Now he’s convinced most in his field have been led astray by the siren song of large language models.

My profile for the WSJ’s weekend paper about Yann LeCun, who has been in the news quite a bit this week!

www.wsj.com/tech/ai/yann...

Meta Cuts 600 Jobs in AI Division The layoffs will affect legacy teams but not the company’s new TBD Lab unit.

Meta Cuts 600 Jobs in AI Division

By Meghan Bobrowsky

The layoffs will affect legacy teams but not the company’s new TBD Lab unit. @meghanb.bsky.social

Gift link!

Elon Musk’s Father Accused of Child Sexual Abuse

NEW: Elon Musk’s father, Errol Musk, has been accused by family members of sexually abusing five of his children and stepchildren. Elon has repeatedly had to intervene, a secret that’s spanned generations. Our months-long investigation www.nytimes.com/2025/09/23/w...

Meta froze hiring in its AI division last week with sources saying exceptions need Alexandr Wang's permission; the duration of the freeze remains unclear (Meghan Bobrowsky/Wall Street Journal)

Main Link | Techmeme Permalink

Exclusive | Meta Freezes AI Hiring After Blockbuster Spending Spree A hiring freeze at Meta Platforms’ artificial-intelligence operations is in effect after investors voiced concerns about the scale of Meta’s stock-based compensation costs.

Scoop: Meta implemented a hiring freeze in its AI division last week after spending months getting 50-plus new researchers & engineers to join the company.

The freeze coincides w/ Meta's broader restructuring efforts & also prohibits current staff from switching teams.

www.wsj.com/tech/ai/meta...

Exclusive | Meet TBD Lab, Meta’s Superintelligence SWAT Team The new group is spearheading work on the latest version of Llama, the large language model that is Meta’s answer to ChatGPT.

Scoop: Meta’s new superintelligence lab has a name—TBD Lab—and a new project developing the next Llama model.

More details from me here:
www.wsj.com/tech/ai/meta...

Sources: TBD Lab, a team under Meta Superintelligence Labs that houses many researchers poached from rival labs, is spearheading work on Llama's newest version (Meghan Bobrowsky/Wall Street Journal)

Main Link | Techmeme Permalink

Why Meta Is Offering $100 Million for AI Geniuses The Journal. · Episode

Happy pseudo Friday, here’s me on The Journal podcast talking about Meta’s $100 million offers to AI researchers

open.spotify.com/episode/0WGM...

It’s Known as ‘The List’—and It’s a Secret File of AI Geniuses Only a select few researchers have the skills for the hottest area in tech. Mark Zuckerberg and his rivals want to hire them—even if it takes pay packages of $100 million.

Mark Zuckerberg has a secret list of AI researchers that he's targeting in the hopes of turning around his company's AI efforts.

New story on Zuckerberg’s hiring spree www.wsj.com/tech/meta-ai...

Sources: Meta has poached three OpenAI researchers, Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai, for its superintelligence efforts (Meghan Bobrowsky/Wall Street Journal)

Main Link | Techmeme Permalink

Exclusive | Meta Poaches Three OpenAI Researchers The social-media giant has hired Lucas Beyer, Alexander Kolesnikov and Xiaohua Zhai for its superintelligence effort.

Scoop: Meta has poached three OpenAI researchers: Lucas Beyer, Alexander Kolesnikov and Xiaohua Zhai, according to people familiar with the matter.

An OpenAI spox confirmed the three have left the company.

www.wsj.com/tech/ai/meta...

plz bury me at Filoli

Exclusive | Tim Cook Called Texas Governor to Stop Online Child-Safety Legislation Apple’s CEO called Texas Gov. Greg Abbott after law passed requiring app stores to verify user ages.

Scoop: Tim Cook called Texas Governor Greg Abbott to try to stop him from signing a bill that would require app stores to verify users' ages, according to people familiar with the matter.

With Rolfe Winkler and Amrith Ramkumar: www.wsj.com/tech/tim-coo...

Exclusive | Meta Is Delaying the Rollout of Its Flagship AI Model The company’s struggle to improve the capabilities of latest AI model mirrors issues at some top AI companies.

Scoop: Meta has been struggling to make breakthroughs with its latest AI model Behemoth and has delayed its internal target for rolling the model out

www.wsj.com/tech/ai/meta...

Zuckerberg’s Grand Vision: Most of Your Friends Will Be AI Meta’s CEO is promoting a future where artificial intelligence is increasingly intertwined with people’s lives.

Former Instagram executive: "The very platforms that have led to our social isolation and being chronically online are now posing a solution to the loneliness epidemic. It almost seems like the arsonist coming back and being the fireman" www.wsj.com/tech/ai/mark... @meghanb.bsky.social

Zuckerberg’s Grand Vision: Most of Your Friends Will Be AI Meta’s CEO is promoting a future where artificial intelligence is increasingly intertwined with people’s lives.

Over the last week, Mark Zuckerberg has outlined a future where people have AI friends, an AI therapist + AI business agents.

“People are going to want a system that knows them well and that kind of understands them in the way that their feed algorithms do,” he said.
www.wsj.com/tech/ai/mark...

New analyst notes are coming in ahead of Meta’s earnings next week. MoffettNathanson estimates the tech giant could lose $7 billion from China this year, and up to $23 billion if we enter a prolonged economic downturn

The Week Google and Meta Faced an Antitrust Reckoning The two titans of digital advertising are facing unprecedented legal threats over tactics they used to reach dominance.

New from me and Jan: The Week That Google And Meta Faced An Antitrust Reckoning

www.wsj.com/tech/google-...

no lmao

deep cut facebook

Lots of interesting stats and emails coming out of the Meta FTC trial. One stat that sticks out to me:

Nearly 55% of the time that people spend on Facebook now is watching videos, up from 30% pre-pandemic

Exclusive | Inside Mark Zuckerberg’s Failed Negotiations to End Antitrust Case The FTC wanted $30 billion to drop its case. Zuckerberg offered much less and hoped Trump would back him up.

Banger of a story on Mark Zuckerberg's failed negotiations to get out of the trial he testified in today www.wsj.com/us-news/law/...

Meta Fights to Keep Instagram and WhatsApp, as Antitrust Trial Begins The Federal Trade Commission says Meta has monopolized the social-media market—and should be broken up.

Story: www.wsj.com/tech/meta-fi...

The trial that could force Meta to sell Instagram and Whatsapp began this morning. Some stats:

*IG ads are expected to account for 50% of revenue this year, per eMarketer
*IG is expected to grow 3% among 18-24 yr olds this year, Facebook is expected to decline 2%, per eMarketer

Not surprising but Meta confirms Instagram usage spiked when TikTok went down for 12 hours back in January

Meta's ad business relies on China and could face a $10 billion hit because of the tariffs, says @brianwieser.bsky.social