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Wait, Mark Zuckerberg, the guy who screwed one of his initial investors out of a huge amount of stock, now wants to screw his stockholders with inside help from

Wait, Mark Zuckerberg, the guy who screwed one of his initial investors out of a huge amount of stock, now wants to screw his stockholders with inside help from a board member. He could maintain control even if he sells most of his stock and is completely distracted by something else - like running for office. But, its OK because some of the money would be used for philanthropy?

renaudg 10y ago
The real Eduardo Saverin story is not the one depicted in the "Social Network" movie.
- tinkerrr 10y ago
  Do you know the real Eduardo Saverin story? Genuinely curious
  - renaudg 10y ago
    I don't have any insider knowledge, but here's a good account : http://www.businessinsider.com.au/how-mark-zuckerberg-booted-his-co-founder-out-of-the-company-2012-5 http://www.businessinsider.com.au/how-mark-zuckerberg-booted... In a nutshell: when Zuck & friends moved to Palo Alto for the summer to work on Facebook, Saverin decided to take an internship at Lehman Brothers in NYC instead. It became increasingly hard to get his attention, even as his approval was required for a crucial funding step. Worse still, Saverin then ran unauthorized ads on the platform for a side project of his. He kept asking about parties in Palo Alto. That's when Zuck decided that enough was enough and started to cut him off. So it's fair to say, at the very least, that the culture fit wasn't there and that the Social Network movie didn't paint the whole picture. I think it's also fair to say that Saverin brought all this upon himself by repeatedly failing to show commitment in the company, and that he still got a sweet deal in the end because Facebook wouldn't have been anywhere near as valuable had he remained involved.
- rahrahrah 10y ago
  It actually is. And Eduardo Saverin got a few million in damages for what would be a hundreds of billion in stock that was stolen from him.
  - renaudg 10y ago
    It's definitely not, see my link above.
  - skinnymuch 10y ago
    Eduardo is a billionaire because of Facebook...
- renaudg 10y ago
  Downvotes for saying this, really ?
h4nkoslo 10y ago
"Philanthropy" in this case meaning to set up a dynastic foundation as a tax shelter.

renaudg 10y ago

The real Eduardo Saverin story is not the one depicted in the "Social Network" movie.

tinkerrr 10y ago
Do you know the real Eduardo Saverin story? Genuinely curious
- renaudg 10y ago
  I don't have any insider knowledge, but here's a good account : http://www.businessinsider.com.au/how-mark-zuckerberg-booted-his-co-founder-out-of-the-company-2012-5 http://www.businessinsider.com.au/how-mark-zuckerberg-booted... In a nutshell: when Zuck & friends moved to Palo Alto for the summer to work on Facebook, Saverin decided to take an internship at Lehman Brothers in NYC instead. It became increasingly hard to get his attention, even as his approval was required for a crucial funding step. Worse still, Saverin then ran unauthorized ads on the platform for a side project of his. He kept asking about parties in Palo Alto. That's when Zuck decided that enough was enough and started to cut him off. So it's fair to say, at the very least, that the culture fit wasn't there and that the Social Network movie didn't paint the whole picture. I think it's also fair to say that Saverin brought all this upon himself by repeatedly failing to show commitment in the company, and that he still got a sweet deal in the end because Facebook wouldn't have been anywhere near as valuable had he remained involved.
rahrahrah 10y ago
It actually is. And Eduardo Saverin got a few million in damages for what would be a hundreds of billion in stock that was stolen from him.
- renaudg 10y ago
  It's definitely not, see my link above.
- skinnymuch 10y ago
  Eduardo is a billionaire because of Facebook...
renaudg 10y ago
Downvotes for saying this, really ?

h4nkoslo 10y ago

"Philanthropy" in this case meaning to set up a dynastic foundation as a tax shelter.