Why $META Could 3x in the Next Few Years

Summary

Jonah Van Bourg presents a bullish non-crypto case for Meta, arguing the market is penalizing its AI and AR R&D while underestimating its ability to catch up in AI and monetize through ads. He assigns optionality to smart glasses becoming a new computing platform and says he holds Meta around $500 with 2-3x potential over 2-3 years. He also says he has concentrated Meta instead of a Nasdaq ETF allocation, expecting Meta to outperform the Nasdaq. Avi Felman engages with the thesis and considers reviewing his own portfolio.

• Jonah pitches Meta as a high-conviction non-crypto trade.
• He bought Meta around $500 and sees 2-3x potential over 2-3 years.
• He argues Meta can catch up in AI and improve ad targeting via distribution and a likely open-source LLM.
• He says the market prices in Meta failing at AI, not becoming a free ChatGPT-like competitor.
• He sees a 25-30% chance smart glasses/AR become the next computing platform and add at least $3T of market cap.
• He says Meta is penalized for AI and AR R&D and is the only founder-mode Mag 7 company.
• He has concentrated Meta instead of a Nasdaq ETF allocation, expecting Meta to outperform the Nasdaq.
• Avi generally agrees and says he may review his portfolio.