Meta被曝去年靠诈骗及违禁广告收入上千亿元，成全球“欺诈经济”重要支柱

Core Insights - Recent internal documents from Meta reveal that approximately 10% of the company's projected annual revenue for 2024, amounting to $16 billion (approximately 114 billion RMB), may stem from fraudulent activities and prohibited product advertisements [1][5] - Meta's spokesperson, Andy Stone, claims that the figures presented in the documents are a "rough and overly inclusive estimate" [5] Group 1: Fraudulent Advertising Impact - Meta's platforms, including Facebook, Instagram, and WhatsApp, have exposed billions of users to fraudulent e-commerce and investment scams, illegal online gambling, and prohibited medical product promotions over the past three years [3][4] - A document from December 2024 indicates that Meta's platforms display around 15 billion "high-risk" scam ads daily, generating approximately $7 billion (about 50 billion RMB) in annual revenue from these ads [3][4] - The majority of fraudulent activities originate from suspicious actions by advertisers, which should trigger Meta's internal alert systems; however, ads are only banned if the fraud probability exceeds 95% [3] Group 2: Regulatory Scrutiny and Internal Assessments - Internal research suggests that Meta's products are a significant pillar of the global "fraud economy," with estimates indicating that one-third of U.S. fraud cases involve Meta platforms [4] - A report concluded that it is easier to run scam ads on Meta's platforms compared to Google, although the basis for this conclusion was not detailed [4][6] - The U.S. Securities and Exchange Commission is investigating Meta regarding the publication of financial scam ads, coinciding with increased regulatory pressure for the company to enhance user protection against online fraud [5][6] Group 3: Financial Performance and AI Investments - Meta reported a 26% year-over-year revenue growth for Q3 2025, reaching $51.24 billion, despite a significant 83% drop in net profit, leading to an 11.33% decline in stock price [7][9] - The company plans to increase capital expenditures for AI infrastructure, with projections for 2025 set between $70 billion and $72 billion, up from previous estimates [9][10] - Meta aims to raise up to $30 billion through the issuance of preferred notes to support its AI and data center investments, attracting a record $125 billion in investor subscriptions [10]