Harvard expert says Mark Zuckerberg’s poor leadership skills are slowly pushing Meta toward failure.
Zuckerberg says Zuckerberg’s flaws as CEO “continue to derail” the tech giant formerly known as Facebook Bill GeorgeD., a senior fellow at Harvard Business School and former CEO of medical technology company Medtronic.
“I think Facebook is not going to do very well as long as it exists,” George told CNBC Make It. “It’s probably one of the reasons so many people are turning away from the company. He really got lost.”
George has spent the past 20 years studying leadership failures in the workplace, and recently compiled these findings into a file new book It’s called, “The True North: Authentic Leadership in Today’s Workplace, Emerging Leaders Edition.”
In short, George says that presidents who lose sight of their deepest beliefs, values, and purpose as a leader—especially in the name of money, fame, or power—are doomed to fail. And after decades of researching the collapse of notable companies, he says he sees striking similarities with Zuckerberg and Meta today.
Zuckerberg and Meta did not immediately respond to CNBC Make It’s request for comment.
Here’s why George says Meta is bound to fail, as long as Zuckerberg remains in command:
George’s book looks at Five different types of bad bosses. George says Zuckerberg doesn’t fall into one category, but three.
First: George says Zuckerberg is the rationalist, the kind of manager who is unwilling to admit his mistakes or learn from them. Instead, they justify mistakes by blaming others.
In February, dead lost more than $232 billion of its market value, which represented the largest one-day drop of any US stock in history. Zuckerberg and his executives blamed the results on several factors, including Apple privacy changes In 2021, which also made it difficult to target ads to smartphone users Increasing competition From competitors like TikTok.
These factors may have played a role – but it’s also possible that the exorbitant spending on metaverse research and development takes into account. More than 10 billion dollars in losses during 2021 alone, and $2.8 billion During the second quarter of 2022 alone.
George says, at least in public, Zuckerberg has not acknowledged or taken responsibility for it.
George says Zuckerberg has become lonely, avoiding close relationships and pushing others away. These bosses often don’t accept help, advice, or feedback, leaving them vulnerable to mistakes.
To some extent, Zuckerberg is known for his self-confidence on conventional wisdom: It’s part of how he built the Meta into a $454.6 billion tech giant. However, in the early days, he took at least some advice from trusted advisors.
One example: Roger McNameeCo-founder of private equity firm Elevation Partners and an early investor in Facebook. In 2006, McNamee advised Zuckerberg rejects Yahoo’s bid to buy Facebook for one billion dollars. McNamee later encouraged Zuckerberg to hire Former COO Sheryl Sandbergwhich played a crucial role in building the advertising business and the company’s internal operations.
Both times, Zuckerberg’s decisions heeded McNamee’s advice – and both decisions proved to be a huge success. But as he grew dead, Zuckerberg eventually stopped listening, McNamee The New Yorker said in 2019.
The decision may have at least one major consequence: In 2016, McNamee . tried Zuckerberg warned On the impact of Russian interference in the US elections on Facebook platforms. It is said that Zuckerberg Warning refusedMcNamee ignored for several months.