Meta's shock & awe quarter: Q4 2025 earnings - 1.28.2026 (028)

Meta just dropped a $135 billion bombshell-and somehow, the stock went vertical. In this episode, Susie and Miro dissect a Q4 report that looks less like a standard earnings update and more like "wartime mobilization." We break down how Zuckerberg is planning to spend nearly double his 2025 CapEx on the newly branded "Meta Superintelligence Labs," and why Wall Street isn't panicking this time. The real story isn't the ad revenue (which is printing money) or the Metaverse losses (which are finally peaking); it's the "Industrial Revolution for Code." With headcount flat and debt doubling, we explore the wildest thesis of the quarter: Meta is effectively swapping human salaries for silicon, using AI agents to replace engineering hours. Is this the ultimate defensive moat, or the world's most expensive heating system for a data center? Tune in for the breakdown. 🤖💸