18 ms·

Facebook stock is up 6x in ~3 years, so the market does not agree with your assessment of his track record.

dmix 6mo ago
Some 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.
- semiquaver 6mo ago
  meta is spending an absolute boat load on R&D and taking massive risks. It seems like your actual position is “company bad”
  - dmix 6mo ago
    I'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.
briga 6mo ago
Astonishingly. I just find it funny that one person can be responsible for wasting hundreds of millions of dollars and still keep their job.
- ergocoder 6mo ago
  Because he made many more billions... Not sure why this is difficult to understand though. It's a simple subtraction.
  - foogazi 6mo ago
    Pound wise - penny foolish
- mosura 6mo ago
  Easy: be responsible at the same time for tens of billions in upside. Post VR it is not like investors don’t know what this is. Meta bets and bets big.
- gosub100 6mo ago
  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. MSFT'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.
ProfessorLayton 6mo ago
And 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?
- function_seven 6mo ago
  Beating the index by 40% after 2 decades as a company? Yeah, still good.
  - ProfessorLayton 6mo ago
    Well we just went from "6x" to "40%" and "good" so, yeah... not quite as exciting.
  - danny_codes 6mo ago
    Of course, Facebook themselves acknowledge that 10% of their revenue is literal scams. Like, people pay them to forward their scams to the targets of said scams. They know this is happening. Obviously criminality pays. I wouldn’t hold up a drug dealer’s returns as evidence of good leadership

dmix 6mo ago

Some 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.

semiquaver 6mo ago
meta is spending an absolute boat load on R&D and taking massive risks. It seems like your actual position is “company bad”
- dmix 6mo ago
  I'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.

briga 6mo ago

Astonishingly. I just find it funny that one person can be responsible for wasting hundreds of millions of dollars and still keep their job.

ergocoder 6mo ago
Because he made many more billions... Not sure why this is difficult to understand though. It's a simple subtraction.
- foogazi 6mo ago
  Pound wise - penny foolish
mosura 6mo ago
Easy: be responsible at the same time for tens of billions in upside. Post VR it is not like investors don’t know what this is. Meta bets and bets big.
gosub100 6mo ago
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. MSFT'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.

ProfessorLayton 6mo ago

And 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?

function_seven 6mo ago
Beating the index by 40% after 2 decades as a company? Yeah, still good.
- ProfessorLayton 6mo ago
  Well we just went from "6x" to "40%" and "good" so, yeah... not quite as exciting.
- danny_codes 6mo ago
  Of course, Facebook themselves acknowledge that 10% of their revenue is literal scams. Like, people pay them to forward their scams to the targets of said scams. They know this is happening. Obviously criminality pays. I wouldn’t hold up a drug dealer’s returns as evidence of good leadership