Thread regarding Meta / Facebook layoffs

1scb+1lEKOf09 ROTFL Very apropos! Well done!

@1txn+1lEKOf09 I personally think metaverse will be a dud. But they're too arrogant to consider that possibility so if it fails, the whole company goes down with it. If they did decide to get rid of Zuck along the way, they'd just pressure him to sell his shares by cutting off funding and/or leading a PR campaign destroying his reputation. Zuckerberg doesn't have the ba--s to stand up for himself.

In a nutshell, it's a money laundering nail spa.

@1brk+1lEKOf09 Fair, but assuming that’s true, what happens when the Metaverse is (and at this moment it obviously is) a total dud? What of the oligarchs’ interests then? Wouldn't Meta be of far less use to them?

Also, it’s not like Blackrock alone could oust Zuck. He’s still the biggest shareholder with (as of 4Q22) ~13-14%, compared to Blackrock’s ~4-6%. Even if they staged a shareholder revolt, that still doesn’t account for Zuck’s “super-voting” shares, which comfortably give him a more-than-controlling stake.

So who exactly going to “get rid of” Zuck if the revenue isn’t there? As you said, Blackrock is in the power and influence game, no doubt, and has its finger in a lot of pies to that end. But as far as FB/Zuck is concerned, it doesn’t seem like anyone has the means to even hold him accountable, much less protect him.

@iwq+1lEKOf09 when you have blackrock money, it’s not about the bottom line. ESG has nothing to do with it’s stated objectives, it’s about consolidating power and influence at the top.

Likewise, facebook’s value has nothing to do with generating revenue, that’s Mark’s problem to deal with or they’ll remove him. Facebook’s value is in promulgating a narrative on the platform that serves the purposes of the investment class and developing the metaverse technology, which the oligarchs feel will be very useful to extending their power and influence.

@eey+1lEKOf09 Lmao at the investment behemoth that owns huge portions of Raytheon, Lockheed, Exxon, and Chevron actually caring about “ESG,” let alone to the extent that they’d undercut their own ROI as long as Zuck “plays ball.”

The ESG thing is a PR smokescreen and always has been. When the chips are down with FB they’ll cut their losses same as anyone.

So long as they play ball with esg meta will be protected by blackrock