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You do know that Zuckerberg has majority voting stock right ? So it doesn't matter whether the board thinks he should be replaced. He will be CEO until he is e

You do know that Zuckerberg has majority voting stock right ? So it doesn't matter whether the board thinks he should be replaced. He will be CEO until he is either sick of the job or unwell. But either it will be at his choosing. And people need to remember that there is a lot of very rich people at Facebook now. It wouldn't surprise me if we see a lot more people resigning to create their own startups or buy an island.

pnathan 14y ago
I seem to recall that Microsoft minted millionares as well in the '90s. Did they have an outflow of the rich too? (I don't know).
- mikeryan 14y ago
  I think there's always a risk of an outflow of people once their stock options hit. That being said, the article actually makes the point that for two of these departures they may be leaving not because of hitting it in the SV lottery but because they're not going to see a payout because their options were priced in at an overly high valuation. Facebook may get hit from both ends, those who have been there 3-4 years ago may be cashing out, those that joined in the last 1-2 years may be leaving because they won't see any return on their options.
- drumdance 14y ago
  Microsoft's market cap grew slowly compared to Facebook, so even if you joined the company 5 years after the IPO there was still a lot of headroom in the stock. But once it hit $200 billion (or whatever they top end was), potential new hires started wondering what the upside was. It's not likely to become a trillion dollar company, so you're looking at a max multiple of 4-5. But back when it was at $20 billion it was a little easier to drink the koolaid and imagine a higher multiple.
mtgx 14y ago
I think now more than ever Mark would want to maintain it's majority share, otherwise the board might start considering replacing him if things keep going downhill from here.
bceagle 14y ago
Sorry, I actually wasn't thinking of the board forcing Zuckerberg to step down. I was more thinking about the Google situation where Schmidt took over CEO for a couple years while Larry Page hung around doing something else.

pnathan 14y ago

I seem to recall that Microsoft minted millionares as well in the '90s. Did they have an outflow of the rich too? (I don't know).

mikeryan 14y ago
I think there's always a risk of an outflow of people once their stock options hit. That being said, the article actually makes the point that for two of these departures they may be leaving not because of hitting it in the SV lottery but because they're not going to see a payout because their options were priced in at an overly high valuation. Facebook may get hit from both ends, those who have been there 3-4 years ago may be cashing out, those that joined in the last 1-2 years may be leaving because they won't see any return on their options.
drumdance 14y ago
Microsoft's market cap grew slowly compared to Facebook, so even if you joined the company 5 years after the IPO there was still a lot of headroom in the stock. But once it hit $200 billion (or whatever they top end was), potential new hires started wondering what the upside was. It's not likely to become a trillion dollar company, so you're looking at a max multiple of 4-5. But back when it was at $20 billion it was a little easier to drink the koolaid and imagine a higher multiple.

mtgx 14y ago

I think now more than ever Mark would want to maintain it's majority share, otherwise the board might start considering replacing him if things keep going downhill from here.

bceagle 14y ago

Sorry, I actually wasn't thinking of the board forcing Zuckerberg to step down. I was more thinking about the Google situation where Schmidt took over CEO for a couple years while Larry Page hung around doing something else.