More Executives are Leaving Facebook
Facebook is okay, Facebook is not okay.
Late last year I wrote about how Facebook’s executive exodus pointed to trouble within its ranks. As Facebook pivots to privacy and messaging, there’s been a significant announcement late March 14th, 2019.
Facebook Chief Product Officer Chris Cox and WhatsApp Vice President Chris Daniels are leaving
Chris Cox, Facebook’s chief of product, is leaving the company, CEO Mark Zuckerberg announced on Thursday. I think this marks a significant loss. The reason given is he wants to “try new things”, yeah right.
Chris Daniels, the head of WhatsApp, is also leaving. WhatsApp has been plagued with violating privacy promises it made when it was a hot growing app and a lack of monetization strategies.
Facebook has more or less failed to create an everything-app like WeChat, and coasted on digital advertising revenues while with Google creating a failed version of the internet which puts advertising and data harvesting of users at the center of its functioning. It should be noted this duopoly also fast-tracked wealth inequality and stunted innovation between 2015 and 2020 to a marked degree.
The Family is Leaving the Family of Apps
Chris and I have worked closely together to build our products for more than a decade and I will always appreciate his deep empathy for the people using our services and the uplifting spirit he brings to everything he does. He has played so many central roles at Facebook — starting as an engineer on our original News Feed, building our first HR teams and helping to define our mission and values, leading our product and design teams, running the Facebook app, and most recently overseeing the strategy for our family of apps — Mark Zuckerberg
Mark seems to be having trouble retaining his top executives and most valuable allies. He’s running a culture that’s too centered around him, there’s nothing familial about that.
When a CEO centralizes too much decision making around himself, it’s rarely good for the brand or how its brand reputation can scale over time as the business has its ups and downs. Stock shareholders are losing patience, where Mark Zuckerberg has more of monopoly around Facebook than any CEO in recent memory in the U.S.
- Cox was one of Facebook’s first 15 engineers and climbed his way up the company.
- Facebook’s executives in its “family of apps” has been a case of musical chairs of late as more important and key people leave.
After hours on March 14th, the stock is down 3 percent.
WhatsApp in Disarray
Chris Daniels has also decided to leave the company. Rotation or exodus? The war for talent never ends and if you do weird stuff, people don’t like it no matter how much $ money it’s making them. So then the re-cap:
- Fidji Simo will be the new head of the Facebook app
- Javi Olivan will now lead identifying where our apps should be more integrated
- Will Cathcart will be the new head of WhatsApp
In case you were wondering. Facebook’s pivot seems to be as much a problem of how it deals with its stubborn Millennial overlord as how its business model needs to pivot with the times in order to stay relevant.
From 2020–2025, the likes of Amazon and Alibaba are expected to start to take significant global digital advertising revenue away from Facebook.
Let’s take a minute to just say, goodbye bro. We got rich on Facebook, exploiting users who were the product. Appreciate your help doing that.