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To be more specific, I think FB could reach the valuation that it did because Mark Zuckerberg's voting power, not despite it. He had explicitly talked about th
by ChrisCinelli 8y ago
To be more specific, I think FB could reach the valuation that it did because Mark Zuckerberg's voting power, not despite it.
He had explicitly talked about the average SV' short term mentality multiple times: "It's still a little short-term focused in a way that bothers me," Zuckerberg says of Silicon Valley. "There's people who want to start a company not knowing what they want to do, or just to flip it." ( https://www.forbes.com/sites/tomiogeron/2011/10/31/mark-zuckerberg-silicon-valleys-too-interested-in-quick-flip/ https://www.forbes.com/sites/tomiogeron/2011/10/31/mark-zuck... )
When it is time to cash out investors do whatever they can to pump up the valuation of a company even if it ends up creating handicaps for the future. When that happened to FB, Mark Zuckerberg was able to oppose to it.
- munk-a 8y agoThis is sort of just the wide-spread symptom of the free-market-ish system practiced in America. Everything is being reduced to how to maximize RoI, reduce the cycle to realize that RoI and ensure that RoI will be realized. Going for a profit isn't a bad idea from a company, but focusing a company on achieving a localized maxima of profit misses out on the larger benefits long term planning can yield.
- travisoneill1 8y agoWhile it may be bad for individual companies, their failure does not prevent somebody else from doing whatever it is they failed to do because of short term thinking.
- tomc1985 8y agoNo, but an excess of business moats and outsized legal departments very often do
- phs318u 8y agoIf Zuckerberg has a long-term vision that he is driving FB towards, what is it?
- jbverschoor 8y agoHe doesn’t. He has always run Facebook as a copy of current trends.. Fb was like Friendster/MySpace then it copied twitter then they bought ig and copied stuff from there. Snapchat. So just look what the trend is. And currently there is ig and messaging. So you see they’re putting back messaging in the main app bc people have abandoned messenger.
- anticensor 8y agoA society with no privacy. Not just at the Facebook, no privacy anywhere at all.