Good news, ad news: Facebook’s big bucks and bets

<p>The social-media behemoth revealed huge profits and stressed <a href="https://www.economist.com/business/2021/07/27/facebook-eyes-a-future-beyond-social-media?utm_campaign=the-intelligence&amp;utm_medium=podcast&amp;utm_source=third-party-host&amp;utm_content=show-notes" rel="noopener noreferrer" target="_blank">even bigger plans</a>: to become an e-commerce giant and a hub for digital creators, and to pioneer something called the “metaverse”. After a <a href="https://www.economist.com/the-americas/2021/07/08/the-clash-in-peru-over-the-election-result-continues?utm_campaign=the-intelligence&amp;utm_medium=podcast&amp;utm_source=third-party-host&amp;utm_content=show-notes" rel="noopener noreferrer" target="_blank">bruising election</a>, Peru has an inexperienced new president; matching policy to his hard-left platform will be a dangerous game. And the publisher trying to bring <a href="https://www.economist.com/britain/2021/07/08/mills-and-boon-wants-to-diversify-its-hero-base?utm_campaign=the-intelligence&amp;utm_medium=podcast&amp;utm_source=third-party-host&amp;utm_content=show-notes" rel="noopener noreferrer" target="_blank">ethnic diversity</a> to romance novels.</p><p>For full access to print, digital and audio editions of <em>The Economist</em>, subscribe here <a href="http://www.economist.com/intelligenceoffer" rel="noopener noreferrer" target="_blank">www.economist.com/intelligenceoffer</a></p> &#10;&nbsp;<br /><hr><p style='color: grey; font - size: 0.75em; '>See <a style='color: grey; ' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for privacy and opt-out information.</p>