Meta CEO Mark Zuckerberg can’t seem to catch a break.

Since changing Facebook’s name to Meta last year and rebranding the company to emphasize its focus on the “metaverse,” an augmented virtual reality, Zuckerberg’s personal net worth has shrunk by more than $70 billion. and, as of Monday, Meta stock prices are down more than 60% year to date.

Investors are not happy. And one went so far as to write an open letter to the company with suggestions on how it might get its “mojo” back. Altimeter Capital Chairman and CEO Brad Gerstner, whose investment firm owns 2.5 million Meta shares, said the company has lost its focus.

“Meta has entered the land of excess: too many people, too many ideas, too little urgency. This lack of focus and fitness is obscured when growth is…