Meta is slowly recovering, but still 'at the whim of Apple' says exec

Meta is slowly recovering, but still ‘at the whim of Apple’ says exec

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Facebook CEO Mark Zuckerberg

Following its precipitous stock value fall in 2022, and mass layoffs in 2023, Facebook owner Meta sees recovery on the horizon — but is warning staff that the hits it keeps taking from Apple’s privacy moves are not going away.

It’s enough that there is progress, but Meta’s Chief Marketing Officer Alex Schultz has warned staff that it is far too soon to say the firm is recovering. In an internal memo seen by Vox, he wrote that “we’re still early in this turnaround, not everything will pan out.”

Schultz said that, “it’s nice to see people thinking we’ve improved,” but adds that “I’ve been in a few groups though where I’ve seen folks get quite excited.” He wrote the internal memo to stress that employees should not read too much into analysts’ or journalists’ reports.

“We’re never as bad as they think we are at times like last year’s stock crash,” he said, “but we’re probably never as good as they think at times like this.”

Key among the reasons he gave for being cautious was that “we’re still at the whim of Apple.” He made no further comment, but the point was an acknowledgement of both the impact of Apple’s privacy measures, and of Facebook and Instagram’s dependence on iOS.

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