Susan Li, the chief financial officer at Meta Platforms Inc. (NASDAQ:META), recounted a pivotal moment in late 2022 that reshaped how the company communicates with investors.
What Happened: Speaking on the Cheeky Pint podcast last week, Li, who’s been CFO of the social networking giant for nearly three years, discussed a tense post-earnings call with major shareholders following Meta’s October 2022 third-quarter results.
The stock plunged over 20% following the results, amid plunging ad revenue, slowing e-commerce growth, and growing concerns over the company’s costly metaverse ambitions.
Li says that at one point during the call, a portfolio manager told them, “We actually don’t have any questions for you today. We just want you to hear feedback from us.”
However, the most jarring comment, she says, came shortly after, with an investor asking, “Why should I invest in your stock today? Why don’t I just wait until your bet pays off?”
This was aimed at the company’s growing capital …