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Zuckerberg's Letter to Shareholders at Facebook's IPO

I'm not sure how I missed this, but apparently I wasn't the only one. The following is BI's translation of +Mark Zuckerberg's letter to shareholders in the IPO prospectus. It's kind of beautiful in a way:

"Before I begin, let me remind you that I own 57% of the voting stock of Facebook, which means I have complete control over it. I organized the company this way many years ago, with the very deliberate intention of maintaining complete control over it. I did this so I wouldn't get overruled and canned by venture capitalists, a fate that unfortunately befalls many entrepreneurs. I also did it so in the event that we ever had to go public—which we unfortunately have to do now—I would never have to pay attention to whiny short-term public shareholders. Those whiny short-term public shareholders have destroyed many great companies by making management obsess about absurd near-term financial targets. I have made sure that that's never going to happen to Facebook. If there ever comes a day when you and I disagree about the future direction of the company, rest assured: Your choice will be my way or the highway."

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He has a point about short term profit but I am pretty sure that analysts would have glanced over this at least and made their own conclusions.
"we don’t build services to make money; we make money to build better services. And we think this is a good way to build something."
good for Mark.
It's worthwhile to note though that your quoted passage is the free rephrasing of the article author, not Zuckerberg's exact words.
The quote just above your comment is.
It's pretty awesome though. A principled CEO, who has ever heard of that?
Now, I personally can't stand Facebook, but mainly for aesthetic reasons, I wish him luck.
Mark is a salesman. Facebook has ALWAYS been about the business. If that wasn't the case then all the issues with fake likes and the recent ad invasion wouldn't have happened.
+Sid Nileshwar of course it has always been about the business, FB, Google, Amazon, etc aren´t philanthropies.
As mentioned in the link I am guessing a lot will depend on how long term employees act when they can trade their stock if they so choose. Will they move on, stay motivated or? Even in the largest most powerful company there are always a few key peoples input which can influence a company in ways unforseen if their actions and outlook changes.
Who the hell can blame him? I dislike Facebook, but as a techy dude I'd be darn sure to retain control of any project I started.
I ain't mad at Zuckerberg! They knew going in that he was gonna keep complete control. No point in whining.
I'm sure there were a lot of red faces among investors who haven't learned from the .com bubble. There was absolutely no indication that FB was ever going to make any cash cow changes to FB, so it doesn't matter how many users it had and continues to have.

No one wants to see ads in their personal pages, but they tolerate a very small amount on the side, out of sight, and that's it. 

The only thing that could give FB a major income boost from where they are now is introducing a completely new feature (or acquiring it) and making that the cash cow, somewhat separate from the main FB world.
That letter actually makes me want to buy stock in the company for the first time. Guess I should go crunch some numbers.
I think that with Facebook's new advertising model, that as soon as they begin posting their revenue we will see an increase and share prices will begin to rise. 
Facebook needs to recreate "the status update" into something much more. They have all these users but don't have a clue how to profit from them without pissing them off. We all agree that ads is just not going to work for Facebook like it did for Google. It worked for Google search because people are going to Google to find something they need, thus some results can return ads in the area the user was searching for. People go to Facebook to see what their friends are up to. Facebook needs to recreate "the status update". Its a simple adjustment that will connect the users with the right businesses without using ads but rather the status update itself. Can't say more then that. : ) They are sitting on gold and haven't realized it yet.
Actualy once you go public its not the VC's its wall street and the city 's short termisiam you have to watch out for.

Incredibly stupid thing to say - thats just asking for trouble.
So, Zuckerberg went public because the venture capitol investors wanted a business plan with an exit strategy built in. So, now they have their out. Genius.
If no one read it, it's not zuckerberg fault. He wrote for whoever wanted to read. And facebook Is his creation. 
What a thoroughly interesting read. It actually gave me a new found respect for MZ. Let's just hope he fulfills his mission and FB is around long enough to ensure all the mum and dad investors get their money back!
I hate when people create companies and then next thing you know the board has removed them 
Company mortality is rarely discussed.

Screen Based Social Networks consistently rise at the speed of light and crumble at seemingly the same pace. FaceBook is going to meet with the same fate not because its leaders have made mistakes but because that is the way of Screen Based Social Networks.

FaceBook's foundation is a house of cards and all of the signs are there, from fake 'Likes' to 'trying to make it on mobile'.

How many vogue Screen Based Social Networks can you name that have seemingly arrived with the sound of a money-making-machine (ca-ching) but then suddenly, like some now-bland pop-band, just vanish, trounced by the next big Screen Based Social Network.
I'll admit I bought and sold FB on the very first day of trading and made a quick profit. But after reading this and looking at how...discounted...the stock is now,I may just jump back in for the long term.. maybe..
Am glad am on google plus...and I don't have shares at Facebook..
Goddamn this punk is such a plutocratic fascist. It's actually quite incredible. Nature of the system I guess...
+gary terry I don't think keeping control over your own business is plutocratic. Plutocratic would be if he sought to control political processes with his Facebook company.
Not a fan of the Zjrburg myself. But I have to agree with this one. So many things in this world just got to hell in hand bag because of investor shortsightedness. 
I'll enjoy so much when Facebook goes the way of MySpace and he goes down with the sinking ship.
I wonder if this attitude translates to employees in a positive way.
+Patrick Metzdorf Politics are a farce... don't be ridiculous, and of course he's doing just that. Does his company have any contact with the CIA... MSM? No, of course not. pfft! Go back to sleep dude... it's late. Plutocratic simply means overt and inordinate influence due to the vested interests of wealth. How is he NOT doing that? He's made his money... 100 million shorting the stock alone, I might add... and then ensures that no one else will ever be able to usurp him. How very capitalistic! NOT! If that's not hegemony, oligarchy and plutocracy, I don't know what is. Give me a break.
+gary terry lol. By his own admission he lost 43%of the company "unfortunately". The next 8% may be much easier, if he finds he can't raise money to play -- while others profit shorting a beligerent hero indignant of a whiny public. Fascinating:)
Mark runs Facebook emotionally . Therefore, his intentions are never to make money but rather become an icon.
I really admire his guts; I'm a little shocked that nobody picked up on this earlier really!
I really think that Mark needs some help, maybe employ a CEO.
Antichrist??? How do you figure that?
That's a little harsh I think - not everybody likes Facebook, but you're not forced to be on there :)
Smart man. . . playing the corporate battlefield with attention to history. He's protecting many jobs by protecting the company (his baby).
You have to remember that Google also use your privacy data to sell you products - they are, first and foremost an advertising business. 
Facebook IPO was your classic, pump and dump.
in the business of being social, not the business of making money.
Basically he is saying it right in regards to corporate cannibalistic mindset. Short traders are becoming the cancer on the market. 
Did he really write that AND still people went nuts to buy stock during the IPO? Either this is a hoax, or stock buyers are legally insane.
Probably not a hoax, people just got carried away...
Official Source of Data plz.......
Well, 57% of the voting stock shareholders agree with him.
+Craig Brunetti it's the latter. People were in an insane frenzy over Facebook. OMG FB IPO!!! Only now have people "come-down" and started to ask WTF? 
Intentions.. so he makes millions, but he wasn't doin that deliberately.

I think he does.
I don't like Facebook too much but he's absolutely correct in blaming non-attached shareholders screwing up companies all over the planet.
Good for him, he started the company and the idea. No one else has the right to change HIS company.
^its not just ego, it shows he is super confident and he exactly knows what he is doing.
I don't like using Facebook but I have a lot of respect for this letter.
Yeah, sure, all Mark Zuckerberg wants to do is get everyone in the entire world "connected", as long as they connect through his spy machine called Facebook.

In fact, he wants to force people to share everything they do online. He calls it "frictionless sharing", automatic sharing without permission, the super surveillance of the Timeline.

Making products "more social" has so far not improved the economy or made the bloated corrupt bureaucracies of government more responsive to The People. Good luck on that lofty objective.

I don't trust anybody who says "It's not about me or making money, it's all about helping humanity" -- what a load of bull.

What a noble and altruistic goal. He just loves humanity so very much, that he calls them "dumb fucks" for trusting him with their data.
I couldn't give a flying fig about fb or google. If either vanished, the world wouldn't even blink.
Over hyped and over regarded. They are no more than a fashion in our time, like sneakers with a label on them. 
Thanks to share holders for tips it w/o been very bad , now time y o t8 myself t work.
I've said it before, and I'll say it again........That young man is an uppity little --------!!!!!!!!!!
+Steven Streight Couldn't have said it better myself! :3
The sooner StasiBook dies... the sooner we'll have a "free & private" internet. The homogenisation and centralisation of the Internet must stop. I've got my eye on you too GOOGLE,  don't be evil, my ass...
The Facebook "map", now called Places, now announces to the world where you've been and there is no way to remove it from Favorites, to hide the Places map, or disable it. Thus, Zuckerberg disrespects user privacy in his great and philanthropic mission to "connect the world" and produce "social products".
Hmmm as I understand it, googly gets its mapping tech from the cia, and I assume will be contracted to share any info.
Of course street view doesn't invade privacy like fb does huh?
Googly and farcebook, two peas in the same pod.
Correct me if I am wrong. Thanx :) 
If this is legit, then there's something I respect about Zuckerberg...
It's kinda simple. He did learn from history. He does not want to get 'Jobed" out of his own creation by a BOD and stockholders Looking short term.

You may not like him. You may even hate him. But he does have a point and you would hope more entrepreneurs take note of the right way to stay in control.

Basically Mark told everyone who was interested F off if you think you are going to control me or my company.
Its his company, he can do as he choose's
+Robert Wilke Zuckerberg is also saying "F off" to user privacy. And "F off" to those who fell for the IPO hysteria and bought FB shares. 

What a wonderful person.
That's the right way to run a company. Too bad Facebook cannot come up with a good product/service. Full of buggy apps, awkward interfaces and posts that are hidden from the poster. What? But it's good he has full control, that means he takes full responsibility. Right?
+Steven Streight like I said love him or hate him. I wasn't talking about what he does with the company. You don't like what he does fine.

He's just not going to fall into the trap that so many people have. In that he builds this company and gives up control by short term investors. He basically said I'm keeping control and do what I think right irregardless of what you want. Have to give him credit to having thought this out.
+Robert Wilke The issue is not a popularity contest, whether people "love or hate Zuckerberg". The issue is his horrible misanthropic attitude toward users and his implementation of technology to stalk them, his lack of concern about rogue apps, malware, and identity theft.
+Steven Streight I get that never said it was a popularity contest. There's lots to hate and I get that. All I'm saying is that he was up front about him remaining in control. The investors can do what they want but they will not be allowed to dictate where he wants to take it. You don't like the terms, don't buy it.
Yes we all know he's a prick and a wealthy one at that. All this emotion over it is useless.

All I was commenting on was his fair warning to the vultures in the stock market to piss off.
Either that or he's sayin I see you and squish your head.:)
His hand gesture says "I shrink your fortune by the continual slumping of Facebook stock from $38 to $19. Ha ha ha."
Much as I may despise facebook, I have to give credit to Mr. Zuckerberg for having the guts, foresight, sense of humor to put such a passage in his prospectus.  First, the events described in the movie, then wearing the famous hoodie to the investor roadshow and now this. 
'We have a saying: “Move fast and break things.” The idea is that if you never break anything, you’re probably not moving fast enough.'

Well, at least that sentence explains why Facebook is broken half the time.
If you have to remind people you are in charge.... lol
His thumb is very small don't you think?.
that's some small ePen he has
The Mark Suckerberg is kind of like that "best friend" who acts like they are looking out for your best interests. Though when you aren't look he's telling your girlfriend all sorts of lies to break the two of you up, because he has a crush on her and has no skills to date a girl like her. She sees such a "good" friend in him, but he's a dirt bag at the end of the day.

He might even be the friend that patents your girlfriend, then takes you to court after your breakup with her and claims it was his girlfriend first.
i laugh when someones FACEBOOK STATUS says "FACEBOOK SUCKS".
why bother buying stock in a company that you know you cant have your say?
I stopped reading this article after I noticed the writer got Marc's age wrong right in the beginning... 28, not 26
I just think it is funny that people thought Facebook would be a successful public company
Zuckerburg is an A-hole, always was, always will be!!!!!
He was probably laughing at all the hype about the IPO.  Got his cash influx and people lost $$.  I still Hate  Timeline!
What about if the actual user makes money from the ads attached to there status updates and facebook takes a cut? If it was optional, that would work really well I think.
Everyone dreams for something in life, and i think its only a coincidence that the two unknown dream cross linked.
+Derrick Best I didn't short, I took profit from the immediate run up on initial trading, my guess the run up was from all the short term (newbies) traders, it was a classic pump and dump scenario..
+Derrick Best lol@Zuckers I like that.. you gotta figure, with IPO's you have to take a page out of the old school way of trading. The "Old Money" as I call them, knew that with scenarios like this there would be a run up as soon as trading started. Take what you can while the profit is there, three bucks is a lot of money when you have 5k, or more in shares right?
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