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Their share price is 73% down since the start of the year, certainly at some point their CEO and the person taking the actual decisions should take responsibili

Their share price is 73% down since the start of the year, certainly at some point their CEO and the person taking the actual decisions should take responsibility for it all, no?

miohtama 4y ago
Because Zuckerberg has controlling shares, it is hard to force him out. I would expect bitter shareholders to sue him for breaching fiduciary duty or similar, but IANAL.
Macha 4y ago
Good luck taking action against the person with all the voting shares.
sgu999 4y ago
No, employees take responsibility when the stock is down. Decision makers only take responsibility when it's up. :D
colechristensen 4y ago
What does "taking responsibility" look like? A meaningless public post "I take responsibility"?
- paganel 4y ago
  Stepping aside or closing/killing-off the project that is haemorrhaging money and is bringing down the share valuation.
qeternity 4y ago
I’ve seen this posted a lot, and I’m not really sure I understand what the point is. Yes, Zuck has an unusual amount of power as CEO. In another company, the CEO might be fired and the new CEO would come in and do the mass layoffs and course correction. But the only difference is in that one person’s job security. It makes no difference to the rank and file: the company over hired and there’s only one remedy for that, irrespective of CEO accountability. When you say the CEO should take responsibility for it all, what exactly do you mean?
- paganel 4y ago
  > When you say the CEO should take responsibility for it all, what exactly do you mean? Either stepping aside or killing the VR thing, which is haemorrhaging money and which is very negatively affecting the share price. The article itself has a quote by some Meta investors asking just that, i.e. for the VR project to be killed.
  - qeternity 4y ago
    Yeah fair and I think most other companies this would happen. But the layoffs would still happen in all scenarios.
  - colinmhayes 4y ago
    Why would he step aside or kill his dream? He has unlimited money and can't be fired. He's completely unaccountable to anyone. You think he cares about the investors? My understanding is that facebook added some refershers when their stock plummeted, expect them to do so again after the layoffs.
whiplash451 4y ago
By the same logic, the CEOs of Shopify, Spotify and Netflix should take responsibility as well. Maybe there is something more systemic going on.
iLoveOncall 4y ago
Responsibility for what? It's easy to say that in hindsight, hiring 40K people in 3 years was not a good move. Maybe 3 years ago it was the best move. Maybe Facebook would have been down 90% if they didn't. And I say that as someone that thinks the shift to the metaverse is a complete idiocy.

Their share price is 73% down since the start of the year, certainly at some point their CEO and the person taking the actual decisions should take responsibility for it all, no?

miohtama 4y ago

Because Zuckerberg has controlling shares, it is hard to force him out. I would expect bitter shareholders to sue him for breaching fiduciary duty or similar, but IANAL.

Macha 4y ago

Good luck taking action against the person with all the voting shares.

sgu999 4y ago

No, employees take responsibility when the stock is down. Decision makers only take responsibility when it's up. :D

colechristensen 4y ago

What does "taking responsibility" look like? A meaningless public post "I take responsibility"?

paganel 4y ago
Stepping aside or closing/killing-off the project that is haemorrhaging money and is bringing down the share valuation.

qeternity 4y ago

I’ve seen this posted a lot, and I’m not really sure I understand what the point is. Yes, Zuck has an unusual amount of power as CEO. In another company, the CEO might be fired and the new CEO would come in and do the mass layoffs and course correction. But the only difference is in that one person’s job security. It makes no difference to the rank and file: the company over hired and there’s only one remedy for that, irrespective of CEO accountability. When you say the CEO should take responsibility for it all, what exactly do you mean?

paganel 4y ago
> When you say the CEO should take responsibility for it all, what exactly do you mean? Either stepping aside or killing the VR thing, which is haemorrhaging money and which is very negatively affecting the share price. The article itself has a quote by some Meta investors asking just that, i.e. for the VR project to be killed.
- qeternity 4y ago
  Yeah fair and I think most other companies this would happen. But the layoffs would still happen in all scenarios.
- colinmhayes 4y ago
  Why would he step aside or kill his dream? He has unlimited money and can't be fired. He's completely unaccountable to anyone. You think he cares about the investors? My understanding is that facebook added some refershers when their stock plummeted, expect them to do so again after the layoffs.

whiplash451 4y ago

By the same logic, the CEOs of Shopify, Spotify and Netflix should take responsibility as well. Maybe there is something more systemic going on.

iLoveOncall 4y ago

Responsibility for what? It's easy to say that in hindsight, hiring 40K people in 3 years was not a good move. Maybe 3 years ago it was the best move. Maybe Facebook would have been down 90% if they didn't. And I say that as someone that thinks the shift to the metaverse is a complete idiocy.