The Presidential Daily Brief

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  1. Spending: Facebook Likes This

    What’s a little profit when you’re Mark Zuckerberg? He didn’t mention the word to shareholders Tuesday, and instead spoke of increasing spending up to 75 percent next year after hitting the mobile ad jackpot. The social network’s third-quarter revenues reached $3.2 billion, humbling analysts. The CEO wants to develop WhatsApp (which has already cost $21.8 billion), the untested Oculus VR, and even bring the Internet to poor Zambians. But when profits are up 90 percent for the quarter to $806 million, you can afford to be generous.

    NYT

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