Facebook doesn’t need a new CEO
Facebook’s share value has dropped to less than 50% than they were when it went public. Several Wall Streets observers have been saying the same thing – Facebook needs a new CEO.
They say that Facebook’s IPO has been nothing less short of disastrous.
According to them Zuckerberg should be the ‘spiritual leader’ at Facebook and step down from the position of CEO. “He’s in over his hoodie” according to the ‘experts’. They feel, he is too immature to lead Facebook.
They are wrong.
Regarding the IPO, here is an alternate take on this issue. Why Facebook’s IPO was a success.
Zuckerberg is the same guy who led Facebook for 8 yrs without being greedy and didn’t sell out to any buyers. Yahoo tried to buy Facebook for 1billion, but Zuckerberg didn’t take the offer.
He has not only created the world’s most popular website, he has also fundamentally changed the way we communicate with each other.
He was smart enough to keep the majority of the voting rights. Zuckerberg controls over 60% of voting rights.
Here is what James Altucher says about Mark Zuckerberg (Note: If you haven’t read his blog yet, do so NOW! It is one of the most freshest thing on the internet.)
- in the past 6 years he’s built up a site with a billion users
- he’s built up a company with a few billion in revenues.
- he just had an IPO raising $12 billion with the lowest possible dilution, with the lowest fees to Wall Street for any IPO ever at that level. Short term flippers were screwed but long-term shareholders will benefit.
- he’s responded to every privacy issue, every complaint, to keep building a brand that people trust.
- he’s “organized” the Internet by developing a common format for individuals and companies to share information. That’s why more and more companies are making their company URLs be their Facebook URLs. That’s why the notion of “your home page” has now been replaced by “your Facebook page”.
You can read more on his blog post here. Just search for the question: “WHAT WILL BE THE SOCIAL NETWORK OF 2020?”
This is the guy who predicted 5 yrs ago, that Facebook would be worth $100 billion.
Some other links: