How many of the people posting here that criticize this move are owners of Meta stock? The number is certainly above 50%, at least for those in the US, since most people with a retirement plan will own Meta in some form. It's the need to satisfy shareholders with new earnings.
Well, I'm saying we should be hesitant to immediately throw out blame for pursuing profit, because it's not just more money for Zuckerberg and other billionaires. If retirement funds were growing at 2%, the same people criticizing this decision would be looking for alternative investment vehicles.
What choice do we have? Indeed, I would rather prefer that the companies that comprise the broad market embrace some form of ESG ethos, but that's clearly out of vogue these days. I vote to that extent, but I'm a breathtakingly small portion of the vote when it comes to corporate governance.
