Facebook's famously mission-driven culture has long been a strength of the company. But maybe not for much longer.
Their departures could spark further exits at the scandal-ridden company, an analyst is warning.
Facebook was shaken last week by the departure of two key executives — and it could be a sign of darker times to come.announced that Chris Cox, the company's chief product officer and one of his top lieutenants who had served at Facebook for more than decade, was quitting. Chris Daniels, the head of messaging at WhatsApp, was also leaving.and hints in Cox's goodbye memo, it's their disagreement with Facebook's plans to shift to a more messaging-focused platform.
In a research note to investors published Monday, Needham analyst Laura Martin argued that Facebook is at risk from"negative network effects." Network effects, simply put, are when multiple things reinforce one another, making the"network" stronger as it grows. But network effects can work the other way too, and in this case, one of Facebook's famous strengths — its incredibly strong mission-driven company culture — could work against it, Martin warns.
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