It feels like META gave these poor performance reviews in order to not get crosswise with California employment law ahead of more planned employee terminations.
My view is that META will never find its way back in terms of making Facebook and Instagram the “destination” platforms they once were. Facebook lacks a product identity. Instagram suffers from Ad pollution which has destroyed its user experience.
The entire company suffers from Zuckerberg’s whims. Zuck is far from being a Steve Jobs-like product genius.
If I were a META shareholder I would be asking myself “If 2023 is to be the self-described ‘Year of Efficiency”, where was the operating efficiency in prior years? Isn’t operating efficiency a 24x7x365 operating principle?”
If you are an investor that enjoys investing in “social media” companies you are better served investing in Alphabet (GOOGL) as YouTube is the social platform where young people spend their time.