The annual tech and media symposium that Allen & Co. organizes at the Sun Valley Resort has been described as a “summer camp for billionaires.” This year it might seem a bit like a week at Easter Lake, the fictional summer camp repeatedly plagued by a hockey-masked serial killer named Jason.
The market has wounded many of those on the list of invitees. Tim Cook’s Apple’s shares have fallen 28.5 percent since the dawn of 2021. Bob Chapek presides over Disney, whose shares have fallen by just short of 40 percent since the year began. Mark Zuckerberg of Facebook bears the burden of Meta shares declining 52.48 percent. Spotify’s co-founder and CEO Daniel Ek has seen his company’s shares plunge 60 percent year-to-date. The leader of the biggest losers club, however, is likely Reed Hastings of Netflix who has overseen a 71 percent crash in his company’s shares this…
