Despite forecasting a grim future for Big Tech in mid-2020, venture capitalist Chamath Palihapitiya's short thesis on Meta Platforms Inc. (NASDAQ:META) and Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) has not materialized, as both stocks have posted massive gains over the past five years.
What Happened: In July 2020, Palihapitiya posted on X a multi-part argument against the long-term prospects of Facebook, now called Meta, and Google, now rebranded under Alphabet, citing regulatory risk, lack of innovation, rising taxes, and antitrust scrutiny.
