Musk, Zuckerberg and Bankman-Fried have been among the worst tech CEOs this year.
The founder of the FTX cryptocurrency exchange Sam Bankman-Fried, the owner of Twitter Elon Musk and the head of the Meta * corporation (recognized by the Russian authorities as extremist and banned in the country) Mark Zuckerberg became one of the worst leaders of technology companies this year, according to the British edition of The Guardian.
The publication points out that the past few decades have been quite successful for leading American technology company executives, but in 2022 the situation has become worse. Zuckerberg’s company has laid off thousands of workers, Musk has displayed a truly impressive level of incompetence as the head of the social network, and Bankman-Fried has risen to fame in connection with the catastrophic collapse of his stock exchange.
Zuckerberg.
The Guardian recalled that the shares of Zuckerberg’s company in February of this year fell by $ 230 billion in one day, which became a national record. At the same time, 9 months later, he told employees that he had misjudged the situation and fired 11,000 people.
In addition, the company said in its Q3 financial report that it expects “substantial” losses due to development of the metaverse in 2023. Corporation employees also look negatively at the development of the metaverse, stating that Zuckerberg alone will “kill the company” with his obsession.
Mask.
Musk ended up in the ranking of the worst bosses because of his actions as the head of Twitter. His reputation was destroyed by layoffs, the introduction and repeal of rules, blocking and unblocking accounts. Journalists note that from the outside, his actions look like a disaster.
In particular, the founder of the Binance crypto exchange, Changpeng Zhao, said that the survival rate of Musk’s innovations will not exceed 10%. However, he praised the businessman for the speed of change in the social network.
Bankman Fried.
Bankman-Fried, whose company was one of the leading companies in the industry, also fell into the ranking of the worst managers. The FTX founder himself was arrested and charged with “one of the biggest financial frauds in American history.”
U.S. prosecutors allege that Bankman-Fried was involved in a scheme to defraud FTX customers by misappropriating their deposits to pay expenses and debts, as well as to make investments on behalf of his cryptocurrency hedge fund Alameda Research LLC.
Also in the ranking were the former head of Twitter, fired by Mask Parag Agarwal, and Elizabeth Holmes, the founder of Theranos, an instant blood test device company. In early 2022, she was convicted of fraud and sentenced to 11 years in prison.
