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Top stories today:

1. Meta has record profits ($11.6B), as revenue +24%, margin 2x
2. Bankman-Fried's lawyers hint he may testify in criminal trial
3. Amazon Ads rolls out AI-powered image generation in beta
4. X rolls out audio, video calls to select users
5. Israel agrees to U.S. request of delaying ground invasion

0. Data and calendar

1. Meta has record profits ($11.6B), as revenue +24% and operating margin 2x’ed to 40%

Revenue grew in all regions in Q3:

Expenses were cut in all major categories

Reality Labs, Meta's VR segment, continued its heavy losses, at -$3.74B

Net income was +164% to $11.6B, surpassing the Q4 2021 high

Monthly active users continued to trend higher, at 3.96B

Meta stock initially rose, then fell after guidance of potential ad softness tied to Israel-Hamas war

• Threads has “just under” 100M MAUs. - The Verge

Read more: CNBC, earnings release, earnings slide

2. Sam Bankman-Fried's lawyers hint he may testify in criminal trial

SBF's lawyers want him to testify about the alleged:

• Involvement of legal counsel in SBF's decisions (suggesting a non-criminal state of mind).

• Industry practices that would make it normal to commingle customer funds with company funds.

• Compliance with Bahmas authorities on Nov. 12, 2022. SBF will say he was acting in the interest of FTX's customers.

The judge can still prohibit some of these questions.

SBF can also still opt not to testify. - CNBC, court filing

3. Longevity Escape Velocity Foundation: doing research to cure and prevent human age-related disease*

• LEV Foundation was co-founded by Dr. Aubrey de Grey, one of the early pioneers in the longevity field.

• Their 2 main projects are Robust Mouse Rejuvenation and Transplants on Demand.

• Your donation can literally save your life, or the life of your closed ones. - Donate to the LEV Foundation.

*Sponsored.

4. Amazon Ads rolls out AI-powered image generation in beta