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Mark Zuckerberg is ‘continued to derail’ Facebook


Mark Zuckerberg’s poor leadership skills are slowly dragging Meta to failure, a Harvard expert said.

Zuckerberg’s shortcomings as CEO are “further derailing” the tech giant formerly known as Facebook, says Bill Georgea senior at Harvard Business School and a former CEO of the medical technology company Medtronic.

George told CNBC Make It: “I think Facebook isn’t going to do well as long as he’s there. “He could be one of the reasons so many people are turning away from the company. He’s really lost.”

George has spent the past 20 years studying leadership failures in the workplace, recently synthesizing those findings into a New book called, “True North: Authentic Leadership in Today’s Workplace, Emerging Leadership Edition.”

In a nutshell, George says that bosses who lose their deepest leadership beliefs, values, and purpose – especially in the name of money, fame or power – are bound to fail. And after decades of studying the demise of famous companies, he says he sees striking similarities to today’s Zuckerberg and Meta.

Zuckerberg and Meta did not immediately respond to CNBC Make It’s request for comment.

Here’s why George says that Meta is bound to fail, as long as Zuckerberg stays at the helm:

People who explain people often blame others

George’s book looks at five different types of bad bosses. According to George, Zuckerberg belongs to not one, but three of them.

First: George says that Zuckerberg is a rationalizer, the type of boss who isn’t willing to admit or learn from their mistakes. Instead, they rationalize mistakes by blaming them on others.

In February, Meta lost more Its $232 billion market value, marking the biggest single-day drop of any US stock in history. Zuckerberg and his executives blamed the results on a number of factors, including Apple privacy changes in 2021 making it harder to target ads to smartphone users, as well as Increased competition from competitors like TikTok.

Those factors may have played a role – but it’s also likely that the massive expenditure on research and development metaverse went into. Meta’s virtual reality division reported more 10 billion dollars only losses in 2021, and 2.8 billion dollars only in the second quarter of 2022.

George says, at least publicly, Zuckerberg has yet to acknowledge or take responsibility for it.

A loner who doesn’t accept advice

According to George, Zuckerberg has become a loner who avoids forming close relationships and pushes others away. Those bosses often don’t accept help, advice or feedback, which makes them prone to mistakes.

To some extent, Zuckerberg is known for trusting his gut more than conventional wisdom: It’s part of how he built Meta into a $454.6 billion tech giant. USD. However, in his early days, he received at least some advice from trusted advisors.

An example: Roger McNamee, who co-founded the private equity firm Elevation Partners and was an early investor in Facebook. In 2006, McNamee advise Zuckerberg turned down Yahoo’s offer to buy Facebook for $1 billion. McNamee then encouraged Zuckerberg to hire Former COO Sheryl Sandbergwho ultimately played a key role in building the company’s advertising business and internal operations.

Both times, Zuckerberg’s decisions followed McNamee’s advice – and both were very successful. However, as the Meta grew, Zuckerberg eventually stopped listening, McNamee told the New Yorker in 2019.

This decision could have at least one major consequence: In 2016, McNamee tried Warning Zuckerberg on the impact of Russian interference in the US election on Facebook’s platform. Zuckerberg reported dismiss warningignored McNamee for months.

US intelligence agencies since then conclusion that Facebook is a key platform in Russia’s intervention efforts, may have contributed to the election of President Donald Trump.

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