Only in Silicon Valley can a CEO burn billions chasing an AI gold rush, send free cash flow below zero, and then demand a bigger payday for his visionary leadership. The board’s ultimate weapon? Threatening to quit. Corporate governance at Meta is basically a fire alarm that needs Zuckerberg’s permission to ring.
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They just offered to pay his taxes, they aren't sick of him or they'd let the company fail
That might be just that they've got so much money in Meta that they can't afford it fail.
Edit: what I mean is that there might be gambler's fallacy at play
He has controlling votes in the company, so he likely offered to pay his own taxes...
Meta does have some very specific issues with their corporate governance in that regard. Mark's contact basically makes him impossible to fire as CEO. It's an unusual situation that should have set off alarm bells for investors years ago.
I do wonder how some of these companies intend to actually make money with it.
Anthropic, fair enough, they've convinced companies to spend huge amount of money making sure that programmers can't remember anything or know what that mass of spaghetti does any more.
And MS, presumably it's all companies spending money on Office 365 Copilot so emails get put in automated holding patterns, and quarterly reports get flashier graphs.
Nvidia, they sell shovels.
But Meta? Their entire business model is scraping data from real people, packaging and selling it to far right politicians and scammers. I'm struggling to figure how AI does anything other than fuck that up.
Meta is an advertising company. AI is the tool that they can use both to read every post and identify the categories each user will be most receptive to, and also to create customised advertising tailored to that user.
For example, the AI notices that your attention lingers a little longer on user posts about travel, and then inserts an advert into your stream which looks indistinguishable from those posts and which encourages you to take that overseas holiday you've been thinking about.
From there, it becomes even more incidious. Advertising is about promotion and persuasion, and word of mouth is a very effective persuasion tool, so imagine the AI becomes your 'friend', or at least one of the AIs many personalities does, because it can post from millions of accounts, each of which can slightly alter your worldview, biases, morals, and influence your needs, your desires, and so on. Now it's not just inserting an advert into your post stream, it's actively participating in the content. Each post is unique to you - while you see posts from your 'friends' who are thinking about about travel to Antarctica, someone else sees stories about replacing tiles on their roof.
AI can collate a sequence of posts about climate change and then need to move away from fossil fuels, in order to persuade someone who it already knows feels strongly about that topic, in order to encourage them to buy a new car, and not just any car, but a particular brand. It might even subtly offer a discount that the advertiser has authorised it to do, for example, mentioning that they saw a dealer just down the road from you has one car left in stock at a huge discount, but it will surely be gone soon.
This is why Google (for example) is pushing gemini hard - it wants it to become everyone's friend and trusted source of information, because once they've achieved that, they can use it to subtly drop hints about products in its responses - nothing obvious, that would trigger the skip button, but just a careful comment here, another one there, a post about how a "user" had problems getting a particular brand of car repaired, and so on and so on.
It's all about ad revenue, and you're the product.
I read recently (ish, couple months now?) that Meta was reshaping its engineering workforce toward having them train an AI to do their work. Big push to record all user activity with their machines and engineers re-tasked away from engineering to doing the crucial, all-important labeling of this recorded data, so it can be used to train a model explicitly intended to replace them.
So yeah I don't think stuff is going great over there (thank fuck).
Nvidia is also doing everything it can to cause artificial shortages in GPUs to raise prices.
I do not get the skepticism? I 100% trust Zuckerberg that this will be about as profitable as the metaverse. 🤣 🤡 💸
His ego can't handle that he's one hit wonder.
He’s not even a one hit wonder. The only good idea he ever had he stole. His company was built by people he conned and then threw under the bus. Every achievement since then was someone else’s good idea that he bought.
I'm sorry, you're going to have to narrow down which Billionaire you're referring to...
I bet he literally believes himself to be some sort of tech genius.
His weird haircut before his broccoli phase was him trying to cosplay as Caeser.
They made this movie about him like 20 years ago. It had this scene of him in college in a computer science class. Like he was such a genius and knew better than the professor. So much cringe.
Yep he didn’t build Instagram, WhatsApp, or even the Facebook ad engine, which is arguably Meta’s actual product.
Oh yeah, I'm sure they'll out him any day now...
This article, like many Futurism articles, is conditioning. It's wild Futurism gets glazed so much on tech lemmy.
As the Wall Street Journal phrased it...
fkn lol.
These articles do not deserve the attention lemmy gives them, and should be downvoted and called out as such.
Oh yeah, I’m sure they’ll out him any day now…
Facebook is structured in such a way that Mark Zuckerberg can never get fired. So if they want to terminate his position, they have to do so with extreme prejudice.
I'm good with that.
They aren't concerned with the destruction of the planet caused by their quenchless data centers. Or their massive privacy invasion of citizens. Or their tactics used to addict children to their platform.
At the end of the day, every board member of Meta is just as nasty as Zuck himself.
Anyone using Meta is feeding the nasty machine
They needed to make moves when he was doing his stupid metaverse hobby/project.
Now they're hemorrhaging money.
Get rid of that liability.
No. Keep him. Hemorrhage more money. Go bankrupt. Zuck can become destitute, homeless, depressed, and addicted to opioids before an untimely death. He will not be mourned.
Exactly, never inturupt your enemy when they are making a mistake.
they cant get rid of him, lol
he's gonna run it aground at full speed
he'll be fine though
edit: in his underground bunker lair thing
Connect the air intake of his bunker to a septic system. Let that fucker literally drown in shit
Oh come on! Just look at how visionary his whole vr thing was… Right META?
Didn't he spend a billion dollars on pixelated legs?
Definitely massive risk. They are giving away about $200-$400/week user credits for their Muse agent. Hardly anyone would need more than that, but it requires giving them credit card info. Massive competition being released in this personal agent space, just a few weeks after their rollout.
SpaceX is going even more nuts. Musk is a fraud supported by Zionist first political rule over US with support for his fraud, but 1.3gw of "spec" datacenters comming online in next 3 months is 5x the hourly gpu rental inventory in the US. BS goal about 10gw extra in 2027 is still gross overspending that makes everyone else go bankrupt from Nvidia price hikes. Grok and Cursor revenue combined still under $1b (last quarter). Zionazi circular financing for GOP corruption will starve rest of industry from access to capital.
IPOs are failing everywhere. UAE being forced geopolitically to bail out OpenAI with $30b, because they are out of cash. Coreweave needs $2b cash just to make it to end of year, but no one will give it to them. SpaceX in similar cash burn rate.
SpaceX and Meta are both building to just rent GPUs to desperate labs without firm contracts. All labs have separate plans. Coreweave gives massive discounts that force structural losses before impossible interest costs, and Nvidia's power to charge whatever it wants for delivery. Collapse is very near.
I can't wait to buy a video accelerator and hard disks for cheap again. So I can't wait for the AI bubble to pop. The only problems is that the whole economy will tank at the same time...
As someone with plans to work in the software dev sector, it's just bad news no matter what. AI turns out to be magic, no jobs. Industry crashes because of the bubble, no jobs.
According to documents viewed by the WSJ, a negotiation team made up of three members of the board began preparing a contingency plan in early September, to use in the event that Zuckerberg refused to back down from his compensation demands. That standby plan reportedly included “resignation from the board” by the negotiation team as a last resort.
Conceptually the CEO has to answer to the board, and the board acts in the interest of the shareholders.
Somehow the board’s major card to play here is that of negotiations fail then members of the board will resign. How that applies any pressure or leverage against Zuckerberg remains unclear.
Acquiesce to my demands or I will leave quietly and stop bugging you.
On to the next idea that is clearly a failure at inception to everyone but Zuckerfuck and his circle of sycophants
he also got the company to pay for his billionaire tax if it passes
He's got to be costing more then he's worth, and at this point he probably has a smaller minority of stock so idk why they keep him around
I am pretty sure he still holds a majority of shares. He is clinging to that for dear life
A.) Meta's issuing new shares for this, so it's shareholders, not the company, that are going to pay his tax bill.
B.) The deal is issuing non-voting shares so he still holds the majority of shares that matter after this.
Mark is just such an inspiring leader...
“I think it’s the right strategy to aggressively front-load building capacity so that way we’re prepared for the most optimistic cases,” Zuckerberg told stockholders in 2025.
And what if the results aren't optimistic? Do these people forget there are still some things in the world they can't will into existence?
The real reason is because the data centers aren’t for AI. They’re for taking up all the components so you can’t compute independently anymore and you need to run “apps” from the ”cloud” so they can “monitor” your “behavior” for “tailored ads” and “terrorist threats” and cut you off completely if you ever retroactively violated their updated EULA that covers all the people they don’t like.
They are stealing computing from us and the business world is letting it happen in the name of cost savings.
I swear to god before I die I will see capitalism driven into the mud to drown
Part of cyberpunk is that the gilded corporations in the sky have white labs and clean computers, but the other part is that street people find their own uses for the leftover hunks of technology considered to be not pretty enough for sale.
In less convoluted terms, nobody fucking needs cloud computing. We used to write software on things that were half as powerful just a decade ago, and software capabilities have stagnated even as computing power has increased because the focus is more on stupid corporate bullshit than...you know? actually solving problems?
The phone you have in your pocket (or even posted this post on) is likely more powerful than anything that was even available 10 or 15 years ago. The joke computers that they'll sell you right now for $200 with an adware-ridden crap OS like Chromebooks are capable of running and even building better software than anything that was available during the first software boom in the late 90s (they just might need a good wiping first).
I am much more interested in the part of cyberpunk we haven't seen much of....where people take down Flock cameras and make them into free wifi repeaters or other types of servers and hobbyists take over again. Corporate software sucks nuts.
Agreed we’re missing the punk part
META will be bankrupt within 5 years according to the bond & credit markets. META’s Credit Deault Swaps are surging — lol.
One can only dream.
The American tech monopolies won't be allowed to go backrupt. Too much world power to lose. They will get bailed out.
Nooo, they should let Markymoo play with the other cool kids