Wednesday, December 1, 2010

More on The Facebook Effect.....

First, I have to say that I think it's funny how Mark Zuckerberg shouts out quotes from movies (97). We do the same thing in our house!
So, the whole middle part of the book is about Facebook "scaling" and how the VCs and personal investors bombard them with offers. It was especially impressive how Zuckerberg did not back out of his verbal deal with Graham (Washington Post) without speaking to him first(109). It really shows an enormous amount of integrity for a twenty-year-old. I don't think he would have even chose Accel over Graham if it wasn't for the incredible $98 million dollar post-investment, which Facebook really needed to expand.
Another fact in the book that was histerical was that Steve Chen was an early employee, and that he was told it was going to be the biggest mistake of his life if he left (129). Of course, he went on to start YouTube. We all should follow our intuition and make our own decisions like him.
And just to show how far removed Zuckerman was from 'normal society', he thought 50 Cent was his new hire (138). I'm sure 50 Cent has his own facebook page by now so Zuckerman can read all about him.
Finally, it was most impressive when he was asked "what he thought might be the best way to "monetize" or make money from Thefacebook, as an exit strategy", he anwered, "I spend my time thinking how to build this and not how to exit"..."I think what we're doing is more interesting than what anyone else is doing and that this is just a cool thing to be doing. I don't spend my time thinking about that. Sorry."(139) The most important thing to Zuckerman has always been to retain control over what he was building, something more than just wealth.

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