Mark Zuckerberg is a lonely and lost billionaire.
As CEO, Mark Zuckerberg says the bugs “further delay” the Facebook move.
“I don’t think Facebook will do well as long as Zuckerberg is around. That’s probably one of the reasons a lot of people are leaving the company. He’s gone,” said Bill George, an associate professor at Harvard Business School. . they spoke CNBC. George is the former CEO of Medtronic, a medical technology company, and has 20 years of experience investigating leadership failures in leading companies.
Mr. Zuckerberg says Facebook will become a billionaire if it succeeds in executing its strategy, but will fail if it pursues meta-universal ambitions. His reasons are given in the book True North: Five Bad Boss Guys And Zuckerberg is mentioned for three.
In the year Zuckerberg testified at a US Senate hearing in 2018. Check it out in April. Reuters
rationalize mistakes
George Zuckerberg decided he didn’t want to admit his mistakes or learn from them. Instead, the meta boss tries to justify his mistakes by blaming others.
For example, Meta lost more than $232 billion in February. The market cap of the US dollar is the largest single-day drop in US stock market history. At the time, Zuckerberg and some company executives blamed Apple’s iOS privacy policy for complicating the social network’s advertising model and increasing competition on the short-form video platform. tick tock
According to George, the above factors can reduce the value of the meta, but not all. That’s the main reason Zuckerberg poured so much money into the virtual universe. Meta’s financial statements show that the Meta version will lose the company $10 billion, the second in 2022. A quarter – about $3 billion. Zuckerberg has not accepted responsibility for those losses. At a shareholder meeting in May, he forecast “significant” losses over the next three to five years, largely due to his ambitions in the fantasy universe.
Singles are not advised.
Mark Zuckerberg is said to be lonely. These leaders don’t accept advice or feedback, making them prone to failure.
Of course, Zuckerberg listened to the advice of mentors when he started Facebook. One of them is Roger McNamee, founder of Elevation Partners and an early investor in Facebook. In 2006, McNamee advised Zuckerberg to turn down an offer to buy Facebook from Yahoo for $1 billion. He also encouraged Zuckerberg to hire Sheryl Sandberg, who later played a major role in building the social network.
However, as social networks grew stronger, the boss of “Meto” turned to self-production. “Zuckerberg finally stopped listening,” McNamee said New York. In 2019
McNamee tried to warn Zuckerberg that the social network would be a platform to meddle in the 2016 US election. The Facebook boss reportedly ignored the idea for months before revealing it. The Cambridge Analytica scandal broke out.
Prioritize fame and fortune
“Zuckerberg bravely pursued fame and put fame and fortune above all else,” George said. “These types of bosses are never satisfied with what they have and are willing to go to extremes to achieve their goals.”
Of course, this claim has already been proven. For example in September 2021. The Wall Street Journal. According to an internal study published by Meta, the Instagram platform contributes to mental health problems among users, especially teenagers. But instead of finding a solution, Meta’s management decided to ignore the issue lest it harm the company’s growth.
Before that, many analysts said Zuckerberg was Meta’s biggest problem. Some insiders say Zuckerberg has a highly authoritarian leadership style that cannot be changed once a decision has been made. If he feels something is wrong, he can change it and no one can interfere.
Some former Facebook employees have revealed that Zuckerberg’s power over Meta is immense. Only he can decide how the social network configures its algorithm to determine what people see in their newsfeed, what privacy settings they use, and what messages they send. Forum sets its own rules on how to distinguish violence and hate speech from simple insults. It also defeats competitors by acquiring, blocking, or copying their properties.
Because of his reckless actions, investors have repeatedly called for Zuckerberg’s resignation as a leader. According to a 2019 filing with the US Securities and Exchange Commission (SEC), 68 percent of Facebook investors called for the resignation of the head of the world’s largest social networking site. Against all odds, Zuckerberg owns the majority of the company’s voting stock, so it won’t have much of an impact.
Bao Lam (Consequences CNBC)