Comment by grandempire 4 days ago
I know too many rich people to know this isn’t true.
> hire top-tier advisors
The circle of top-tier leaders who know how to manage giant tech companies is a tiny circle with Zuck being one of them.
In fact that’s what the board of directors did - they used their money to hire Zuck to run their company.
You’re right - but the example stands. The CEO is a professional advisor hired to make the rich people money.
This makes no sense in Zuckerberg's case: he was never hired by the board and they've never had a chance to fire him. Investors can sell the stock if they don't like what he does, but that is not a "professional advisor" relationship.
It's mostly a cult of personality relationship, and you're deep in it with your belief that Zuckerberg is an unusually capable operator.
> This makes no sense in Zuckerberg's case:
I already agreed with the correction - he has voting control.
What is still incorrect is imagining that billions of dollars gets you advisors who know how to run a company - and those people aren't just high level executives already running companies.
> you're deep in it with your belief that Zuckerberg is an unusually capable operator.
The burden is on you to show a successful CEO for over a decade is actually an idiot.
People like him exist a turtles nest full, but there is only one social network effect to rodeo .
Independently on what you think of Zuckerberg as a human being, on the basis of acquisitions alone, he can be judged as an insanely effective CEO. The way Meta managed the shift from Facebook to Instagram is impressive from a strategic point of view.
Heck, Meta literally controls the world most popular chat application. I never liked social media, spent most of the past fifteen years avoiding them as much I could while maintaining just enough presence to stay reachable and a Meta application still remain my most used one.
Let's not forget that Google, for all their billions, utterly failed to significantly attack Meta market.
Meta has been effective at being the owner of Instagram, even though that's because they've smartly mostly been staying hands off on it besides integrating it with Facebook wherever makes most sense. And also even though the platform is also getting long in the tooth, becoming a place dominated by brands rather than the hip kids' club it was in the past. Now it just seems like the default social media profile for people to connect with one another, like how FB was before it.
I wonder what if Facebook's attempts to buy Snapchat had gone through. Would they have been an effective steward of that platform as well, or would it have gone the way of Twitter-acquired Vine? Would Snapchat even have been a good acquisition target? Okay, maybe it's not productive to discuss counterfactuals, but it does make one consider if we're self-selecting for big hits here and ignoring all of the duds that never amounted to anything- and the potential duds that didn't go through because the founders didn't want to just take the money.
WhatsApp I'll grant you, hard to think of any alternate chat app that could've gotten as ubiquitous as it did. Though, again, was that also mostly WhatsApp's own success, amplified by Facebook's ubiquity? Not to mention, Google being as incompetent at chat as it is at social, Apple unwilling to entertain servicing other operating systems, and Blackberry, AOL, MSN Messenger, etc. having disappeared long ago.
Interestingly, Meta hasn't seem interested in trying to compete with "channelized" IRC chatroom-style apps in the vein of Slack or Discord. Maybe there's some enterprise Messenger for Businesses that does that, idk.
"In fact that’s what the board of directors did - they used their money to hire Zuck to run their company."
doesn't he still have voting control of the stock?