Part 3/8:
While discussing the volatility experienced in the tech market, Gersner recounted a moment in fall 2022 when he and his firm penned a letter to Meta's CEO, Mark Zuckerberg, urging a refocus on core product lines and the adoption of AI strategies. This decision paid off as Meta saw a remarkable bounce in its stock price following structural changes in its workforce and increased emphasis on AI capabilities. Gersner’s observations reinforced the notion that technology companies remain robustly profitable, outperforming their non-tech counterparts by significant margins over the past few decades.