Meta Platforms

Meta benefits from strong economic moats. It operates a massive network of social platforms (Facebook, Instagram, WhatsApp) with roughly 3.5 billion daily active users. This scale creates heavy switching barriers for users and advertisers: more users attract more content and ad dollars, reinforcing Meta’s position.

Its brand and data-rich ecosystem are durable intangible assets. The company also leverages its scale for cost advantages in data centers and AI research.

Although regulatory pressures (antitrust and EU ad rules) could threaten parts of its business (e.g. a forced sale of Instagram/WhatsApp), Meta’s moats remain substantial given its entrenched user base and ad platform. We rate the overall moat strong to very strong (multiple reinforcing moats).