Communicate a Higher Purpose as a Business Leader

Tesla confirmed investors’ concerns, showing a 9% quarterly drop for sales and 48% for its adjusted profit. But by the time Elon Musk was done, the stock was up by 10%.

Facebook’s Meta revenue increased 27% in Q1 2024, a significant improvement over the 4% growth it saw in the same quarter a year ago. Advertising revenue was $35.6 billion in Q1 2024 compared to $28.1 billion in Q1 2023. But when Mark Zuckerberg finished speaking, the company had lost $200 billion in market cap, about 19% of the value of the firm.

Meta Platforms Inc., under the leadership of CEO Mark Zuckerberg, faced a turbulent earnings call as investors responded with skepticism to the company’s focus on artificial intelligence (AI) and the metaverse. 

Despite the social media conglomerate reporting stronger-than-anticipated profit and revenue for the first quarter, shareholders expressed disappointment, causing Meta’s shares to nosedive by as much as 19% in extended trading on Wednesday. 

Why? Visioning. Musk offered a future where Tesla is not a car company. Zuckerberg returned to his old metaverse hobby which destroyed value when he tried it before. Communicate a higher purpose!

Tesla confirmed investors' concerns, showing a 9% quarterly drop for sales and 48% for its adjusted profit. But by the time Elon Musk was done, the stock was up by 10%.

Facebook’s Meta revenue increased 27% in Q1 2024, a significant improvement over the 4% growth it saw in the… pic.twitter.com/fo0b1J7c4I

— Ndubuisi Ekekwe (@ndekekwe) April 26, 2024

Comment on Feed: Meta earned money and lost their valuation, while Tesla lost money and gained valuation. The writer posits that the cause is the selling of a dream, not the realization of a dream. That’s what his point was essentially

Meta’s Stock Plummets 19%, wiping $200bn off market cap as Zuckerberg Pushes AI and Metaverse Vision

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