MetaCapitalism was publicly introduced by the consulting firm PriceWaterhouseCoopers (PwC) in 2000 as a methodology that assists firms in becoming more efficient by means of decapitalisation, downsizing and innovation in value-added communities. However, can MetaCapitalism contribute to our understanding of market performance, especially in view of the current credit crisis? The Australian telecommunications sector was chosen for a primary test regarding the effects of MetaCapitalism on companys’ market performance with relevant data being collected from 1989 to 2007. This research studies how MetaCapitalism indices demonstrate frequent fluctuations during the 18-year period and how this impacts on market performance especially for the large scale telecom companies. The study also provides evidence of how George Solo’s theory of reflexivity in the financial market can demonstrate different cognitive and manipulative perceptions of the MetaCapitalism efficiency changes.