Meta’s record-breaking stock rally follows a hot earnings report

These two passages say it all:

The stock rally is going to pay for a lot of hoodies: As the owner of ~350 million shares of Meta, Zuck added $28.1 billion to his net worth yesterday and stands to gain ~$700 million each year from the dividend.

He decided to make some major changes and labeled 2023 the “year of efficiency”—doubling Meta’s operating margin and reducing expenses by consolidating offices and laying off 22% of workers.

I’m not going to go off on a rant here. But suffice it to say, the juxtaposition of him making an extra ~$700M dollars while the company laid off 22% of their workforce (that means people lost their jobs), is really concerning. It’s not something to praise anyone over. Full stop. And yet…here we are.