The Business Socializer 9-12-2022
Facebook "continuing to derail", TikTok beats Facebook/Insta in the UK, The 92 year old TikTok influencer with 4.8 million followers, Plus More...
Mark Zuckerberg is “continuing to derail” Facebook
All systems have a trajectory. They are born. They grow. They mature. They decline. They die. Of course the length of each stage is the question. Sometimes systems can be reborn. This does happen. Apple would be a great example of a company that was reborn. A couple of weeks ago we posted a video of Steve Jobs’ return to the company which signaled the beginning of Apple’s second meteoric rise. But such instances are rare.
Right now Facebook and Mark Zuckerberg are facing a crisis of confidence. One year ago Facebook shares were trading at around $350. As of this moment (Meta) shares are at $168.11, a drop of over 50% in 12 months. That - is - not - good.
The rise of TikTok, the changes to the Apple operating system that make Facebook ads less effective, pressure from government, the censorship scandals, Zuck has had a rough year. But according to the attached article some think the current malaise at Facebook is primarily because the CEO has lost the script, and maybe his vision.
Jim Cramer still thinks Zuckerberg is a good bet. Whether the rest of the investing public, and more importantly the public at large will continue to bet on Facebook is at this moment an open question.
We are not saying that Facebook is going to go belly up or anything. Facebook, as we have often said and despite its problems, remains the biggest and the baddest of the social media. We use Meta products daily, often multiple times a day. You probably do too. Facebook and Instagram are key parts of the lives of billions of people around the world. That won’t change overnight. But it does feel like the Metaverse pivot Zuckerberg is attempting is hung up at the moment.
In the meantime competitors are gaining.
(From CNBC)
Mark Zuckerberg’s poor leadership skills are slowly dragging Meta toward failure, a Harvard expert says.
Zuckerberg’s shortcomings as CEO are “continuing to derail” the tech giant formerly known as Facebook, according to Bill George, a senior fellow at Harvard Business School and former CEO of medical technology company Medtronic.
“I think Facebook is not going to do well as long as he’s there,” George tells CNBC Make It. “He’s likely one of the reasons so many people are turning away from the company. He’s really lost his way.”
Facebook’s four problems (New York Times)
TikTok blows by Facebook/Instagram in Britain (Digital Information World)
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