Shulou(Shulou.com)11/24 Report--

Beijing, September 15 (Xinhua) Bill George, a senior researcher at Harvard Business School and former CEO of Medtronic, a medical technology company, said in an interview with CNBC that Meta CEO Mark Zuckerberg's poor leadership is slowly dragging Meta to failure.

"I don't think Facebook will do very well as long as he's here," he said. "he may be one of the reasons so many people leave the company. He really lost his way."

The Harvard expert has been studying failed leaders in the workplace for the past 20 years, and after a great deal of analysis, leaders who ignore their deepest beliefs, values and goals in the name of money, fame or power are doomed to failure. Especially after studying the corporate failures that have occurred over the past few decades, he noticed the striking similarities between Zuckerberg and Meta and the failure precedent.

George believes that bad bosses can be divided into five categories, and Zuckerberg meets three of the requirements.

Rationalists who blame others are unwilling to admit their mistakes or learn from them. instead, they rationalize their mistakes by blaming others.

In February, Meta's market capitalization fell by more than $232 billion, the biggest one-day drop in U. S. stock history. Zuckerberg executives blamed the results on external factors: Apple's privacy changes in 2021 made it more difficult to target ads to smartphone users and increased competition from rivals such as TikTok.

The role of these factors may be undeniable, but the huge spending on meta-universe research and development may have an even greater impact. Meta's virtual reality division reported losses of more than $10 billion in 2021 alone, followed by a loss of $2.8 billion in the second quarter of 2022.

Mr George says Mr Zuckerberg has not really taken responsibility, at least in public. Although he did say at the shareholders' meeting in May that the company was expected to lose "a lot" of money over the next three to five years by investing in meta-cosmic technology.

George, a loner who does not accept the advice, believes that Zuckerberg has become a loner, pushing others away to avoid forming a close relationship. If the leader does not accept help, advice, or feedback, this is clearly a red flag.

To some extent, Zuckerberg is known for trusting his intuition rather than wisdom, although that intuition has helped him turn Meta into a multibillion-dollar tech giant.

In the early days, he took at least some trustworthy advice. Take Roger McNane (Roger McNamee), a co-founder of private equity firm Elevation Partners and an early investor in Facebook. In 2006, McNamy advised Zuckerberg to reject Yahoo's offer to buy Facebook for $1 billion. McNum later encouraged Zuckerberg to hire former chief operating officer Cheryl Sandberg, who eventually played a key role in the company's advertising business and internal operations.

There is no doubt that time confirms the correctness of these two decisions. However, with the development of Meta, McNane told the New Yorker in 2019 that Zuckerberg was no longer so easy to listen to outside advice. This led to the scandal and controversy caused by Facebook in the 2016 US presidential election.

Finally, Zuckerberg pursues honor, and he values fame and wealth above all else. George believes that this type of boss is never really satisfied with what they have, but is willing to go to extremes in order to make a profit.

Zuckerberg has always given priority to the profit and growth of Meta, even at the expense of the company's billions of users. That's why the company has long been mired in controversy over issues related to user privacy and security.

A survey by the Wall Street Journal last year found that Meta's Instagram platform contributed to users' mental health problems, but the company's leadership actively chose to ignore the problem to avoid endangering user participation and growth.

Criticism of Zuckerberg's leadership may now resonate more. After falling 9 per cent on Tuesday, Meta's shares are down 59 per cent from last year. Sales and profits fell in the second quarter compared with the same period last year, and revenue is expected to decline again in the third quarter compared with the same period last year.

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