Cramer says Instagram founders lost in the 'clash of cultures' with Facebook CEO Mark Zuckerberg [CNBC]
Meta Platforms, Inc. - Class A (FB)
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Source: CNBC
show chapters The sudden exits of Instagram's co-founders were due in part to losing in a clash of cultures with Facebook Chairman and CEO Mark Zuckerberg , according to CNBC's Jim Cramer . When you have powerful personalities who really are at war in terms of just ethos, in terms of culture, ... there's going to be a push-comes-to-shove moment, Cramer said Tuesday on Squawk of the Street . The side that lost is the side of creativity, said Cramer, whose charitable trust owns Facebook shares. The stock price was down 1.8 percent Tuesday, a day after Instagram announced the departures of Kevin Systrom and Mike Krieger. Systrom said he and Krieger plan to take time off and explore our curiosity and creativity again. Zuckerberg praised the Instagram founders in a statement. Cramer described Systrom and Krieger as the heart and soul of Instagram, which he said saved Facebook from complete oblivion. Instagram has more than 1 billion monthl
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