Meta has pointed to its hefty artificial intelligence investments as helping improve the performance of its online advertising platform as a reason for its sales growth. The company's online advertising system suffered a major setback in 2021 when Apple introduced an iOS privacy update that weakened its ability to track users across the web. Meta in February 2022 said that the privacy changes would cost it $10 billion in revenue.

In late 2022, Zuckerberg instituted a major cost-cutting plan that extended into the next year and ultimately resulted in 21,000 Meta workers losing their jobs, or roughly a quarter of the company's workforce.