Meta CFO Susan Li on headcount vs. GPU allocation, “free cash flow” hats, and almost becoming a PM

Susan Li of Meta—the youngest chief financial officer of a Fortune 100 company—joins John Collison to talk about capital allocation, managing investors, and how Mark Zuckerberg has changed over the 17 years of working together. Full episode transcript https://cheekypint.transistor.fm/2/transcript Timestamps (00:00) Intro (01:20) Early education and career (02:15) Lessons from Michael Grimes at Morgan Stanley (03:12) Leadership traits and succession planning at Meta (06:05) Mark Zuckerberg’s leadership and culture of feedback (09:06) Financial forecasting and capital allocation (14:18) ROI on Meta’s portfolio of bets (15:05) Investor sentiment in 2022 (17:49) The story behind the “free cash flow” hats (18:58) CapEx trends in the AI era (21:48) A memorable earnings call (24:16) Challenges of allocating compute vs headcount budgets (26:55) AI’s impact on productivity and operations