Gene Munster, Deepwater Asset Management, joins 'Fast Money' to talk the latest out of Meta on the Q3 investors call, his reaction to the quarter, and more.
Questions asked in this interview
4
0:20Did you hear enough about Muse to satisfy questions about the path to monetization?
2:05Why wouldn't they give the number, do you think, Gene? Why wouldn't they give it?
3:28You know, if they were to buy like an Instinct, right?
5:27And more importantly, how do you think the market would interpret that or receive it?
That's going to decide it, and nobody knows right now. I threw out a number last night. I don't think 420 is ridiculous, given his history. But obviously the market is struggling with where to value Tesla based on what we think is going to happen.
All right, let's get more on all these earnings and bring in Gene Munster of Deepwater Asset Management, where he is a managing partner. Gene, good to have you with us.
Well, I think Dan was taking some issue about retailers jumping in here, and Zuck said that basically the question came up like, 'How are you going to get retailers on board with these bots in commerce?' His response was, 'They're going to have to get on board.' He said that in a nice way. The CFO stepped in and kind of toned it down a little bit and said it's going to take a little bit of time. But I think that that's a big key takeaway here, is just that we're still very early in what's going on with the bots, and they're going to have to do a lot to get retailers comfortable. But make no mistake, Muse is the future of the company. This is whether it's going to be commerce-based — that's the big driver right now. That's the number one use case. They highlighted that it's commerce.
But even beyond that, what I think investors need to take into consideration here is that Muse is effectively the new platform. And so yes, they'll still have Instagram, they'll still have Facebook, WhatsApp. But from an engagement perspective, they're seeing that this, the personalized agent side, will basically start to take more and more of our time. And so I think that's an important, again, distinction. And why that matters for investors is because you just have to think about everything that they've done as grow this big base of 3.65 billion people. It's now converting them over to Muse, and we're at a whopping — they didn't give the number, but my guess is we're probably about 10 million daily users of Muse, which is just remarkably low. We've got a long way to go here, but that's the real substance. Here's a simple question: Do you believe in Muse?
6 more exchanges in this transcript
Sign in free to read the rest of this interview. No card required.
