Letters: Zuckerberg is sinking his ship
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[Re: Meta share price plunge sees investors buy up almost 20 times more shares, Feb 7]
Mark Zuckerberg’s Christmas wish for the end of 2021 may have come true, but it has come at the cost of $220bn drop in valuation.
The Metaverse might show promise in years to come, but it does not appear to have re-energized the company for the year ahead.
In its current format, the platform appears half-baked, designed only to help cover some of the cracks in Meta/Facebook’s once-bulletproof armour.
If the social media giant does not manage to stem the flow of users off the site soon, Meta – ironically Hebrew for “dead” – might well decide to pull the plug on Facebook as it shifts its focus to the Metaverse.
If Meta and/or Facebook is to survive for the foreseeable future, changes will need to be swift.
And these need to start from the top. With Zuckerberg’s leadership under scrutiny, it would make sense for the founder to step down and give a new wave of digital innovators a chance to rebrand and re-innovate Meta’s offering. It is indeed likely that the only way out of this for Meta is further growth-through-acquisition, and that is a finite path.
Mike Rhodes