Given that he has been running the company for many years and the valuation/profit/or whatever has gone up 100x times, I'd say the board is probably gonna be patient with the guy.
replyImagine the guy made you $1.4 trillion dollars but lost $14 billions. Would you fire him?
I would.
replyAfter enough chances, yeah. Zuck probably has a few more big mistakes to go before the stock price is crushed and flat lines for awhile… in that environment a change of CEO would be needed.
replyFacebook stock is up 6x in ~3 years, so the market does not agree with your assessment of his track record.
replyAnd in the last 4.5y it's up 70% while the S&P500 is up 51% in the same time period, not quite as exciting eh?
replyBeating the index by 40% after 2 decades as a company? Yeah, still good.
replyWell we just went from "6x" to "40%" and "good" so, yeah... not quite as exciting.
replySome people in tech want companies to innovate and take risks by spending on R&D instead of just funneling it back to investors or safer existing markets, others will complain that they took those risks and failed despite still running profitable businesses.
replymeta is spending an absolute boat load on R&D and taking massive risks. It seems like your actual position is “company bad”
replyI'm in the former group where I personally support Meta taking risks on big ideas while still being profitable. Just like SpaceX and others. I don't blame Mark for getting excited about AR which is very likely a big market in the future, the gamble on the tech being affordable enough was just far too early for the scale of investment. Their investments there might still pay off as it gets cheaper.
replyAstonishingly. I just find it funny that one person can be responsible for wasting hundreds of millions of dollars and still keep their job.
replyBecause he made many more billions... Not sure why this is difficult to understand though. It's a simple subtraction.
replyEasy: be responsible at the same time for tens of billions in upside.
replyPost VR it is not like investors don’t know what this is. Meta bets and bets big.
I hate the guy personally, but still understand that at that scale, if the leader is so conservative that s/he never risks losing, they are already losing. Like airline manufacturers never investing in jets because early ones weren't safe.
replyMSFT's bumbling idiot Ballmer Threw away at least a billion on one of the failed early versions of the Surface, but it went on to be profitable (or at least successful with customers) later. They also burned billion(s) acquiring skype, only to switch to Teams. Say what you want about their terrible products, but somehow they are still successful businesses.
Unfortunately looking at CEOs that don't have a majority stake but make one terrible decision after another (waves to Satya) I think odds are pretty good he'd still be around.
replyYou mean his terrible financial decisions of founding a company in 2004 that IPO at 104B within eight years, and now 14 years on is valued at 1.6T? Are we looking different track records?
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