Jim Cramer on Meta CEO: "Zuckerberg Makes Elon Musk Look Like a Real Softy"

Meta Platforms, Inc. (NASDAQ:META) is one of the stocks Jim Cramer discussed, along with the tech battleground. Cramer highlighted the company CEO’s hiring strategy, as he commented:

“Third example, there used to be some honor among thieves in Silicon Valley, a sort of no-poach rule that led to a lot of rich executives filled with stock-based compensation. Then along comes Mark Zuckerberg from Meta, and he is poaching like mad, building the best roster in the industry. He’s going after some very talented execs from Apple, including one we just learned who ran Apple’s liquid glass portfolio, which I’m very interested in.

What the heck? I know this is how it’s supposed to be in a free market economy, but in practice, the big boys never really tried to compete on salary. Now, they have free agency without a salary cap. Nightmare. Meanwhile, Zuckerberg’s cutting his Metaverse spend, a black hole that I thought might stay a black hole. Because when you’re making as much money as Meta is, does anyone really need to be laid off? Apparently, yes. You know what I’ve been thinking? Zuckerberg makes Elon Musk look like a real softy.”

Meta Platforms, Inc. (NASDAQ:META) develops social media, messaging, and communication products, including Facebook, Instagram, Messenger, Threads, and WhatsApp. Additionally, the company creates virtual, augmented, and mixed-reality hardware and software.

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Disclosure: None. This article is originally published at Insider Monkey.