Meta has long been seeming like a company that lacks proper direction. When the controversies of its data collection practices and suspicious algorithm came to light, Meta tried to go into damage control mode by changing its name. This made it seem like the company will be focusing on the Metaverse, but in spite of the fact that this is the case it has not really found much success on that front.
With all of that having been said and now out of the way, it is important to note that Meta’s own CTO has just criticized the company, saying that it has lost focus and is not truly seeing the big picture anymore. Andrew Bosworth (AKA Boz), who has been working for Meta since the earliest days of Facebook, said that Meta’s struggles are a pivotal example of what happens when a company starts to get far too big.
This can create way more problems than might have been the case otherwise, and that can certainly be seen with how much Meta has struggled to keep its stock price afloat and its revenues coming in as healthily as they always have.
He mentioned all of this in a post on his personal blog, and he reminisced about what Facebook was like in the early days. According to Bosworth, Meta has gotten so big that it can waste money on things that are not all that important, and the negative impacts of such actions won’t become fully clear until it is too late to do anything to rectify the mistakes that were made.
Bosworth’s blogpost could prove timely because of the fact that this is the sort of thing that could potentially end up putting Meta’s upcoming quarterly earnings report into context. The company has had a miserable run of late, with declining revenues and a plummeting stock price being just a few of its many woes.
Projections suggest that Meta will be revealing its third straight drop in sales and quarterly earnings. That does not bode well for a company that has already been struggling for such a long time.
Read next: Meta Publishes Its Latest Performance Update With An Increase In Users But Decline In Revenue
With all of that having been said and now out of the way, it is important to note that Meta’s own CTO has just criticized the company, saying that it has lost focus and is not truly seeing the big picture anymore. Andrew Bosworth (AKA Boz), who has been working for Meta since the earliest days of Facebook, said that Meta’s struggles are a pivotal example of what happens when a company starts to get far too big.
This can create way more problems than might have been the case otherwise, and that can certainly be seen with how much Meta has struggled to keep its stock price afloat and its revenues coming in as healthily as they always have.
He mentioned all of this in a post on his personal blog, and he reminisced about what Facebook was like in the early days. According to Bosworth, Meta has gotten so big that it can waste money on things that are not all that important, and the negative impacts of such actions won’t become fully clear until it is too late to do anything to rectify the mistakes that were made.
Bosworth’s blogpost could prove timely because of the fact that this is the sort of thing that could potentially end up putting Meta’s upcoming quarterly earnings report into context. The company has had a miserable run of late, with declining revenues and a plummeting stock price being just a few of its many woes.
Projections suggest that Meta will be revealing its third straight drop in sales and quarterly earnings. That does not bode well for a company that has already been struggling for such a long time.
Read next: Meta Publishes Its Latest Performance Update With An Increase In Users But Decline In Revenue
