‘Risky bets’ by Musk and Zuckerberg ‘have backfired in epic fashion,’ analyst says.
Stanford’s Blank was unsurprised by Zuckerberg’s all-in bid for the headset-based metaverse, noting he led Facebook’s immersive virtual-reality company Oculus in 2014, Blank noted. “There’s a very consistent vision that he’s been articulating about where he believes the future is,” Blank said. “The question is whether he’s wrong or whether he’s too early.
Musk’s Twitter purchase is harder to understand from a business standpoint, Coates said. “My sense is he’s looked at it and said, ‘I can do it much better than you idiots. I’m super rich.’ It fills his ego,” he said. Musk is now “massively mismanaging” Twitter, Coates said. “It is true that it has been badly run. But that doesn’t mean it can be the things that Musk thinks it can be and it doesn’t mean that he understands that industry at all,” he said. “He is exceptional.
Richard Hagberg, a Silicon Valley leadership coach since 1979, said seeking out subordinates’ views is a hallmark of successful leaders. “You have to have somebody who tells truth to power,” Hagberg said.
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