In 2004, Zuckerberg was twenty, Facebook was 4 months old, and a financier offered to buy the company for $10 million.
In 2006, Zuckerberg pretty much walked away from a deal for Facebook worth close to $800 million. His sister remembers Mark Zuckerberg saying at that time, “This is a lot of money. This could be really life-changing for a lot of people who work for me. But we have so much more opportunity to change the world than this. I don’t think I’d be doing right by anyone to take this money.”
Facebook is long passed being valued in the millions. Based on prices for privately traded shares of its stock, Facebook could presently be worth more than $50 billion dollars. Zuckerberg, who is now twenty-six, owns about 24% of the company. His share could be worth more than $10 billion, but, to some degree, it seems Mark Zuckerberg could care less about the value of the company, though controlling the company is non-negotiable for him.
One of Facebook’s longest serving executives, Kevin Colleran, stated that the reason for Facebook’s success was, “Mark is not motivated by money.”
A vice president, Chris Cox said, “Mark would rather see our business fail in an attempt to do what is right and to do something great and meaningful, than be a big, lame company.”
Zuckerberg has stated repeatedly over the years, “It’s not about the money.”
And his actions support his claim. In 2006, when Viacom, parent of MTV, wanted to buy Facebook, the highest number bandied about was $2 billion.
“Why don’t you just sell to us?” a Viacom executive asked him. “You’d be very wealthy.”
“You just saw my apartment,” Zuckerberg replied. “I don’t really need any money.”
Zuckerberg’s apartment was a modest one-bedroom with a mattress on the floor and books scattered in piles throughout his room.
It really wasn’t about the money. It was about the vision.
Though the movie, The Social Network, and the book it was based on, cast a shadow on Mark Zuckerberg, it is absolutely clear that nobody but Zuckerberg made Facebook what it is today.
Like Apple has been inseparable from Steve Jobs, Facebook is inseparable from Mark Zuckerberg.
Of course he’s made mistakes along the way, but to think of Zuckerberg as anything less than one of the most driven, focused, forward-thinking visionaries of his generation is to underestimate one of the brightest young men alive. At twenty-six, he is at the helm of a company, a utility, as he likes to call it, that serves 500,000,000 people around the globe, and counting.
Zuckerberg is a man on a mission called Facebook. All along the way, when others wanted to sell out or make more money with Facebook advertising, author David Kirkpatrick notes, Zuckerberg, “steadfastly refused to compromise his vision.”
For Zuckerberg, it was always about building the service Facebook could provide. His vision is that Facebook will help people to communicate and will empower the individual. His vision is about connecting the entire world. Zuckerberg understood that the value of a network grows as more people are served by that network. The logical conclusion is that the most valuable network is one that can serve all the world’s people. That’s where Zuckerberg is going. His vision is the whole world. And before you laugh, remember, that in six years, at the ripe old age of 26, Mark Zuckerberg and Facebook have close to 10% of the world’s people using their service.
Zuckerberg has stated repeatedly, “We’re going to change the world.”
And, he says, “I think we can make the world a more open place.”
His goal is to make people comfortable with ‘radical transparency’, a dramatic shift away from what we were formerly comfortable with concerning issues of personal privacy. The idea is that technology is so ubiquitous and personal information so readily available that there is in effect no place to hide. The absence of hiding places is a good thing to Zuckerberg. He feels it leads to an increase in integrity. He may still be young and idealistic, but his vision is that people will become more honest and more transparent as they realize that they are no longer able to lead double or triple lives with secrets in unopened closets.
Again, he may be young and idealistic, but Zuckerberg and his gang are changing the world.
“The question I ask myself like almost every day is “Am I doing the most important thing I could be doing? …Unless I feel like I’m working on the most important problem that I can help with, then I’m not going to feel good about how I’m spending my time. And that’s what this company is.”That's the question Zuckerberg asks himself, "Am I doing the most important thing I could be doing?"
Not a bad question to ask yourself now and again. Namaste.
I can be reached at email@example.com or 805/680-5572.