Sheryl Sandberg’s Leaving Meta’s C-Suite & Elon Musk’s Anti-WFH 6/2/2022

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 2 June 2022

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Sheryl Sandberg is stepping down from her post as Meta Platforms Chief Operating Officer after 14 years. Sara Fischer, Axios media reporter, and Rich Greenfield of LightShed Partners, discuss what this means for the Facebook parent’s stock and its future in the metaverse. Elon Musk has ignited another debate: returning to work. Commenting on a Twitter post, Musk said that Tesla executives unwilling to return to office work “should pretend to work somewhere else.” Tsedal Neely, Harvard Business School professor and Tom Gimbel, LaSalle Network founder and CEO, debate the value of hybrid work and education. Plus, Jamie Dimon foresees a hurricane, Chipotle is accepting Bitcoin, and President Biden’s hoping to move students out—of debt. In this episode: Sarah Fischer: @sarafischer Rich GreenField: @RichLightShed Tom Gimbel: @TomGimbel Michael Santoli: @michaelsantoli Becky Quick, @BeckyQuick Brian Sullivan, @SullyCNBC Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	Hi there, I'm C. NBC producer Cameron Costa.
0:07.0	Today on Squawk Pod,
0:09.0	after 14 years at Facebook,
0:12.0	Cheryl Sandberg is stepping down from her CEO role, media watcher
0:16.3	and analyst Rich Greenfield.
0:18.7	I'm sure there will be a lot of people worried today about what this means for Meta,
0:22.4	but I think this was sort of inevitable as Mark
0:24.8	sort of pivoted the company.
0:26.8	And the legacy she leaves with Axia's reporter Sarah Fisher.
0:31.4	Cheryl is leaving on top.
0:33.6	This company has grown its business 43,000% since she joined in 2008 and it's continued
0:40.1	to impress Wall Street.
0:42.1	And Elon Musk is putting pressure on his employees,
0:45.6	the Tesla CEO says work from home no more.
0:49.4	But his attitude could backfire.
0:51.4	Harvard Business Schools, Sadal Neely.
0:53.5	To force people in the office is to reject the digital revolution
0:59.2	that is here and it is here forcefully.
1:02.0	That said, Elon Musk will probably always do whatever he wants.
1:07.0	LaSalle Network CEO Tom Gimble.
1:10.0	There's less turnover in a non-virt world and when you're running Tesla you have the
	...

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