Alphabet has also been cutting thousands of jobs amid wider tech layoffs as part of a structural alignment with the new economic reality. The parent company of the popular social media app Instagram, Meta ( META ) is the world's largest online social network, with 3.7 billion active monthly users. The firm's social media empire also includes other popular apps such as Facebook, Messenger, WhatsApp, and an ecosystem of features surrounding these products. The firm generates 90% of its revenue through advertising, with more than 45% coming from the U.S. and Canada and over 20% from Europe. "Meta could be the main beneficiary of a TikTok sale as an increased focus on the presence of a formidable competitor like TikTok may reduce antitrust pressure on Meta." Says a Morningstar equity report. Further, going by Meta's user count, the presence of TikTok has not affected Meta's network effect, the report notes.