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Altimeter Capital Urges Meta
Description
Investment firm Altimeter Capital pushed for Mark Zuckerberg to cut staff and scale back its metaverse development to “get its mojo back.” Meta ($META@US) shares are down 50 percent in the past 18 months, costing the company $600 billion in market value. In his letter to Zuckerberg, Altimeter Capital Chief Executive Brad Gerstner told Zuckerberg that Meta has “drifted into the land of excess” and needs to address the drop in share price.
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