Economics/Class Relations

Meta boss: All this criticism of our business is ‘lazy’

By Alyson Shontell, Fortune

This week, Fortune hosted its annual CEO Initiative Summit in West Palm Beach, Fla.


We heard from politicians and business executives ranging from Joe Manchin to top Meta boss, Nick Clegg. The summit wrapped with a fascinating conversation with Marc D’Amelio, the father of TikTok’s most famous and followed sisters, Charli and Dixie D’Amelio.


“I can’t stress enough how normal and great our life was prior to this,” D’Amelio said. In 2019, he and his family were living in the suburbs of Connecticut. His daughters were attending high school and he and his wife would escape for regular date nights.


Then his girls started posting short-form videos from their bedrooms, dancing in front of their unmade beds, and followers quickly racked up.


Today, Charli D’Amelio has more than 145 million followers on the platform. The family moved to Los Angeles to pursue entertainment careers and have raked in an estimated $70 million.


Charli earned nearly $20 million last year and her older sister, Dixie, about $10 million thanks to clothing lines, business ventures, six-figure sponsored posts, a popular Hulu and Snap show, and more.


While lucrative, the cost of fame is steep, and it’s one the D’Amelios consider often. Marc D’Amelio has watched his children get bullied and go through mental health struggles as they’ve opened their lives to constant criticism.


When asked how he weighs the decision as a parent to support this lifestyle and career for his children, he said his family of four regularly has check-in meetings where they ask, “Are we happier today than we were in our little town in Connecticut?” And for now, that answer continues to be yes.


Meanwhile, in a very different discussion with Meta’s Nick Clegg, Clegg stood firmly by Mark Zuckerberg’s metaverse vision and spending. He came out swinging against the press for what he deemed “lazy headline caricature of the health of our existing businesses” and also took shots at Apple, which he believes won’t “get away scot-free” from regulators much longer.


You can watch the full interviews with Clegg and other executives from our conference here.

Coinbase CEO Brian Armstrong is obsessed with self-improvement. Can he improve fast enough to turn his company around?


With a stock price down 70% this year, grim earnings, and lackluster product rollouts all while during a Crypto Winter, Armstrong faces a big task.


OCTOBER 31, 2022

Fortune’s top trending stories:


Here are some top contenders Elon Musk could choose to be Twitter’s new CEO

“Chief Twit” may be running the show now but the group of acolytes he’s tapped to help manage Twitter provides a good shortlist for who may take the reins of his $44 billion baby.


3 charts that shed light on when the stock market may hit bottom

Investors trying to find the bottom of this market may have to wait or else risk catching a falling knife. Here’s where the market is expected to go next.

Revolut CEO may be eyeing a move further into social media as the fintech launches a chat feature for payments: ‘You never know’

As Twitter looks to move into payment and subscription models, the European “super app” Revolut takes a step closer to a possible social media future.

As Amazon’s value drops below $1 trillion, this chart shows how dramatically the biggest tech heavyweights have fallen

Valuation cuts, falling market caps, mass layoffs—it’s not a great time to be in tech.


The pandemic killed watercooler moments. Apple, Netflix, and Uber’s watercooler company came back stronger than ever

What happens to watercooler companies when watercooler moments evaporate? Bevi was forced to find out.

More than 90% of S&P 500 boards disclose racial representation. But the numbers have barely budged

Outsiders are finally getting a good glimpse of the racial makeup in boardrooms. But the view is still mostly white.
Empowered Employees Drive Growth
Empowered employees are at the heart of what it means to be a business today. A new global study examines the link between employee experience and revenue growth. A streamlined EX-CX strategy can help future-proof your business.
Learn more
New from Fortune
Sign up for The Trust Factor ✉️

The Trust Factor is your weekly guide to understanding the new KPI business leaders need to succeed, from gaining consumer confidence to mitigating digital risk. Get it delivered to your inbox

Kohl’s CEO on activist investors, inflation and other challenges
Progressive CEO Tricia Griffith on Fortune’s Leadership Next podcast

Leave a Reply