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Pony Boy
02-01-2012, 04:39 PM
What do you do you think are you buying or sitting on the sidelines?

Will Facebook Really Create 1,000 Millionaires?

Facebook’s IPO has set new records for wealth hyperbole. It’s the “best investment ever!” It’s the biggest liquidity event ever! It’s about to unleash a new wealth wave in America! It’s a boon to wealth managers and Palo Alto realtors. It’s going to solve California’s budget problems, help fix our education system and feed the poor in Africa.

But the most widely repeated superlative about the Facebook IPO is that it will create “1,000 overnight millionaires.”

This is impossible to know, of course. But the phrase “1,000 millionaires” appears to have magical – if not factual — significance in Silicon Valley.

http://blogs.wsj.com/wealth/2012/02/01/will-facebook-really-create-1000-millionaires/

OBF1
02-01-2012, 04:55 PM
okay

Mogulseeker
02-01-2012, 04:58 PM
As a guy who studied finance, I don't see it happening overnight.

Butterscotch Stallion
02-01-2012, 05:15 PM
if true...killing self. I would like to believe original ideas merit this kind of reward, not myspace, friendster and prodigy rip offs.

BroncoBuff
02-01-2012, 05:23 PM
Gotta know somebody, a real somebody to get in on this I'm sure.

Google's IPO was an eye-opener too, but I can't imagine anything will ever top the Red Hat (Linux) one for shock value. It was the first real monster. Just looked it up, The Red Hat stock valuation triple that first day

Jay3
02-01-2012, 05:37 PM
What they're referring to is all the employeers and founders who have shares now. Once the market values the new shares from the public offering, their holdings will be valued at over 1 million after the first day.

There's no way to make a million overnight by participating in the IPO.

I'm really good and observing obvious things. By the way, that Tebow seems to have a nose for the game.

JPPT1974
02-01-2012, 05:44 PM
I have to see it to believe it. But doubt that there will be some sort of "Millionaires" to that club. Except for FB big wigs like Mark Z!

enjolras
02-01-2012, 05:56 PM
I know four of them, all double digit employee numbers. Two of the four are already millionaires having sold shares on the secondary market. The other two are going to be. The highest stands to make close to two million.

It's good to be early to to the Facebook team. They've worked their tails off and they've definitely earned it.

Jetmeck
02-01-2012, 06:19 PM
What a crock. Millioniaries for inventing some useless BS. Why couldn't someone come along and invent the next fuel our economy will run on or etc.
Something ****ing useful !

bowtown
02-01-2012, 06:31 PM
What a crock. Millioniaries for inventing some useless BS. Why couldn't someone come along and invent the next fuel our economy will run on or etc.
Something ****ing useful !

Did you post that on your wall yet?

broncosteven
02-01-2012, 08:51 PM
Gotta know somebody, a real somebody to get in on this I'm sure.

Google's IPO was an eye-opener too, but I can't imagine anything will ever top the Red Hat (Linux) one for shock value. It was the first real monster. Just looked it up, The Red Hat stock valuation triple that first day

Google is starting to wobble, they could be in some real trouble.

Taco John
02-01-2012, 08:57 PM
I'd like to get in on the IPO. I think Facebook is a great product and use it quite a bit to keep tabs on my extended family. Sure beats email.

extralife
02-01-2012, 09:09 PM
I know four of them, all double digit employee numbers. Two of the four are already millionaires having sold shares on the secondary market. The other two are going to be. The highest stands to make close to two million.

It's good to be early to to the Facebook team. They've worked their tails off and they've definitely earned it.

oh yes, definitely earned it, they crystallized narcissism, promoted inanity, and then worked to sell identities off to the highest bidder. models of the human race.

RhymesayersDU
02-01-2012, 09:12 PM
if true...killing self. I would like to believe original ideas merit this kind of reward, not myspace, friendster and prodigy rip offs.

Right, because nothing in this world has ever been improved upon.



Anyways, the other FaceBook hate in this thread is completely hilarious.

RaiderH8r
02-01-2012, 09:27 PM
As a guy who studied finance, I don't see it happening overnight.

So you're saying I have to wait 48 hours? A week? How long man?

Pick Six
02-01-2012, 10:41 PM
I think Facebook has already peaked. It's a bad investment, IMO. 2 or 3 years ago? Maybe...

Dedhed
02-01-2012, 10:50 PM
Gotta know somebody, a real somebody to get in on this I'm sure.

;)

Dedhed
02-01-2012, 10:53 PM
I think Facebook has already peaked.
lulz

Taco John
02-01-2012, 11:58 PM
I think Facebook has already peaked. It's a bad investment, IMO. 2 or 3 years ago? Maybe...

I don't think it's even come close to its potential. It penetrated every age group in record time, and has become an indispensable way for people to communicate and share their lives. If I want to shoot a quick note to my mom and know she got it that night, I jump on facebook. If I want to share an achievement my son has done with grandma and grandpa without any fuss, I jump on facebook. If I want to tell every close friend that I have that I am raising money for a diabetes ride, I do it on facebook.

If someone can find a way to replace that, I welcome them to try. Google is a billion dollar company and they've failed so far. Microsoft is going to try next with Skype. I wish them luck.

Mogulseeker
02-02-2012, 12:19 AM
What they're referring to is all the employeers and founders who have shares now. Once the market values the new shares from the public offering, their holdings will be valued at over 1 million after the first day.

There's no way to make a million overnight by participating in the IPO.

I'm really good and observing obvious things. By the way, that Tebow seems to have a nose for the game.

This.

broncocalijohn
02-02-2012, 02:11 AM
This IPO will bring millions for the California coffers and then more later once they sell. At 15% capital gains, that still helps the state. Problem is the state politicians will all be crying how it can pay for education of something else and neglect the fact that the state is running out of money. I think FB is a smart business and see them around for awhile. I think MySpace had a niche but should have stayed around pushing music as FB was taking customers.

alkemical
02-02-2012, 06:29 AM
I don't think it's even come close to its potential. It penetrated every age group in record time, and has become an indispensable way for people to communicate and share their lives. If I want to shoot a quick note to my mom and know she got it that night, I jump on facebook. If I want to share an achievement my son has done with grandma and grandpa without any fuss, I jump on facebook. If I want to tell every close friend that I have that I am raising money for a diabetes ride, I do it on facebook.

If someone can find a way to replace that, I welcome them to try. Google is a billion dollar company and they've failed so far. Microsoft is going to try next with Skype. I wish them luck.


The competition with MS is an interesting one. It's not *JUST* Skype - it's the whole platform:

Xbox, Win_Phone (They own Nokia), Kinect, etc etc.

It's going to be interesting for sure. I don't think FB Dies - but - changes happen also.

alkemical
02-02-2012, 06:29 AM
So, if i wanted to get in on this - how would I go about it?

hades
02-02-2012, 06:55 AM
So, if i wanted to get in on this - how would I go about it?

Wait till the symbol is available to place an order on the open market, just like buying any other stock. Small 'taters like us can't get in before that.

On a side note, I'm sure there will be huge demand for Facebook once it starts selling stock, and there may be a large amount of wide eyed buyers driving the price up quickly. IMO, yes, you can make a little money once this starts selling, but I would not hold it very long. How much revenue does FB generate each Qtr?

I myself do use it, but have no personal info (the actual city I live in, BD, etc.), never use a CC to buy anything for any of the games on it. I do "check in" with friends when we go out somewhere, so I guess they can use that to sell something from me.

Arkie
02-02-2012, 07:03 AM
Gotta know somebody, a real somebody to get in on this I'm sure.

Google's IPO was an eye-opener too, but I can't imagine anything will ever top the Red Hat (Linux) one for shock value. It was the first real monster. Just looked it up, The Red Hat stock valuation triple that first day

Google's IPO was so big that it has yet to reach 1000% growth in 8 years. eBay reached 1000% growth in it's 1st quarter. It took Amazon a year and Yahoo two years to reach that mark.

Jetmeck
02-02-2012, 07:37 AM
I don't think it's even come close to its potential. It penetrated every age group in record time, and has become an indispensable way for people to communicate and share their lives. If I want to shoot a quick note to my mom and know she got it that night, I jump on facebook. If I want to share an achievement my son has done with grandma and grandpa without any fuss, I jump on facebook. If I want to tell every close friend that I have that I am raising money for a diabetes ride, I do it on facebook.

If someone can find a way to replace that, I welcome them to try. Google is a billion dollar company and they've failed so far. Microsoft is going to try next with Skype. I wish them luck.


iNDISPENSABLE..................lol

Like I need to know every little detail of someone's life.

Jetmeck
02-02-2012, 07:39 AM
Google's IPO was so big that it has yet to reach 1000% growth in 8 years. eBay reached 1000% growth in it's 1st quarter. It took Amazon a year and Yahoo two years to reach that mark.

What is Ebay at now ? Yeah so be careful

Dedhed
02-02-2012, 07:48 AM
iNDISPENSABLE..................lol

Like I need to know every little detail of someone's life.

FB doesn't care about whether you want to know every detail, you don't pay them anything.

What they care about is the people who buy ad space within FB, and you can bet your life that those details are gold to businesses.

Dedhed
02-02-2012, 07:56 AM
What is Ebay at now ? Yeah so be careful
Over $30, what's your point?

joe9999
02-02-2012, 08:31 AM
What a crock. Millioniaries for inventing some useless BS. Why couldn't someone come along and invent the next fuel our economy will run on or etc.
Something ****ing useful !

We are working on this where I work. We are a leader in making jet and diesel fuel from algae. We are scaling up. Making large ponds in southern NM. Hiring too, but the site is remote.

Arkie
02-02-2012, 08:36 AM
What is Ebay at now ? Yeah so be careful

It's even higher now (15x IPO) than it was then (10x IPO)

edog24
02-02-2012, 09:42 AM
What a crock. Millioniaries for inventing some useless BS. Why couldn't someone come along and invent the next fuel our economy will run on or etc.
Something ****ing useful !

This X1000000

alkemical
02-02-2012, 09:47 AM
What a crock. Millioniaries for inventing some useless BS. Why couldn't someone come along and invent the next fuel our economy will run on or etc.
Something ****ing useful !

Funny you mention that:

I have a product i'm getting onto market that is a Soil & Water remediation tool.

Breaks down unspent petro-chemicals into N/P/K - breaks down salts into amino acids.

:)

KO5K
02-02-2012, 09:50 AM
Thought this was pretty cool:

Graffiti artist who took shares instead of cash for painting Facebook's first HQ seven years ago to make $200MILLION in stock market float. (http://www.dailymail.co.uk/news/article-2095385/Facebook-IPO-Graffiti-artist-David-Choe-painted-HQ-set-bumper-shares-payday.html)

RhymesayersDU
02-02-2012, 09:52 AM
WHAT? Why can't that graffiti artist cure cancer?!?!?!

alkemical
02-02-2012, 11:33 AM
WHAT? Why can't that graffiti artist cure cancer?!?!?!

it's art, it's ok.

:)


I don't care that people are getting paid out big time with sweat equity and investing. That's how it's supposed to work, right?

I just wish I had the re$ource$ and connection$ to drop some coin on it. I wouldn't be able to get in, until the highest margin's made.

Not saying it's a bad buy, but from my limited POV on this - if you can't get in, or are already in now...you might want to wait after the mad rush and buy in later.

But, i'm not an investor. I'm just a guy building up two businesses right now and hoping one day - to cash in with all my sweat equity investment, and resource investments as well.

Taco John
02-02-2012, 12:10 PM
iNDISPENSABLE..................lol

Like I need to know every little detail of someone's life.

You don't. Hell I don't. The thing I use it primarily for is keeping grandma and grandpa up to date on what is going on with me and my family (mostly meaning my kids).

Pick Six
02-02-2012, 03:44 PM
lulz

I think that growth is going to depend on how well Facebook does in the foreign markets. I truly believe they have reached their saturation point in America...

http://www.mobiledia.com/news/126521.html

Pony Boy
02-02-2012, 04:22 PM
it's art, it's ok.

:)


I don't care that people are getting paid out big time with sweat equity and investing. That's how it's supposed to work, right?

I just wish I had the re$ource$ and connection$ to drop some coin on it. I wouldn't be able to get in, until the highest margin's made.

Not saying it's a bad buy, but from my limited POV on this - if you can't get in, or are already in now...you might want to wait after the mad rush and buy in later.

But, i'm not an investor. I'm just a guy building up two businesses right now and hoping one day - to cash in with all my sweat equity investment, and resource investments as well.

There are millions of investors that said the same thing about Microsoft, Ebay and Google and a few years later were kicking themselves in the ass.

Tombstone RJ
02-02-2012, 04:39 PM
I don't think it's even come close to its potential. It penetrated every age group in record time, and has become an indispensable way for people to communicate and share their lives. If I want to shoot a quick note to my mom and know she got it that night, I jump on facebook. If I want to share an achievement my son has done with grandma and grandpa without any fuss, I jump on facebook. If I want to tell every close friend that I have that I am raising money for a diabetes ride, I do it on facebook.

If someone can find a way to replace that, I welcome them to try. Google is a billion dollar company and they've failed so far. Microsoft is going to try next with Skype. I wish them luck.

yah ok but the kids are using twitter, NOT fb.

BroncoBeavis
02-02-2012, 04:46 PM
I think that growth is going to depend on how well Facebook does in the foreign markets. I truly believe they have reached their saturation point in America...

http://www.mobiledia.com/news/126521.html

Saturation isn't really a problem. Once they have all the eyeballs it's all about converting that into revenue. There are tons of avenues for revenue streams open to them now that they rule the world.

They haven't tried as hard on the revenue side because they wanted to focus on capturing the market. Now's when they can really start to make money (if they play it right)

houghtam
02-02-2012, 04:52 PM
yah ok but the kids are using twitter, NOT fb.

Most people use both, not one or the other.

Jetmeck
02-02-2012, 04:52 PM
It's even higher now (15x IPO) than it was then (10x IPO)

No Ebay has not went up from its high several years ago.

Jetmeck
02-02-2012, 04:55 PM
People aren't paying anymore attention to the ads on Facebook than they do with junk mail. Good luck long term.

Pony Boy
02-02-2012, 04:59 PM
Zuckerberg Tops Google Founders in IPO With $28.4 Billion Facebook Stake

Facebook Inc. (FB)’s initial public offering may value Mark Zuckerberg’s stake at $28.4 billion, making him richer than Google Inc. (GOOG)’s co-founders and almost on par with Larry Ellison, who started Oracle Corp. (ORCL) 35 years ago.

http://www.bloomberg.com/news/2012-02-02/zuckerberg-facebook-stake-worth-28-4-billion-at-valuation-s-highest-range.html

houghtam
02-02-2012, 05:02 PM
People aren't paying anymore attention to the ads on Facebook than they do with junk mail. Good luck long term.

Some people must pay attention to junk mail, otherwise you wouldn't still keep getting it. Same thing with commercials, billboards and every other type of advertising.

snowspot66
02-02-2012, 05:20 PM
Just read an article stating 11% of Facebook's revenue is from Farmville's creator Zynga.

Things that make you go hmmmm....

R8R H8R
02-02-2012, 05:24 PM
Thought this was pretty cool:

Graffiti artist who took shares instead of cash for painting Facebook's first HQ seven years ago to make $200MILLION in stock market float. (http://www.dailymail.co.uk/news/article-2095385/Facebook-IPO-Graffiti-artist-David-Choe-painted-HQ-set-bumper-shares-payday.html)

This is what the headlines are referring to when it says "overnight millionaires". These are people that already had a stake in the "private" shares that will absolutely explode the day they hit the secondary market.

BTW, they aren't "overnight" either. This guy has been waiting since 2005 to cash in, but the media says that is "overnight".

Tombstone RJ
02-02-2012, 05:32 PM
Most people use both, not one or the other.

fb should just buy twitter and have both. Twitter seems to appeal to kids more than grown ups but once the kids hit a certain age they will probably communicate more via fb.

Bronco Yoda
02-02-2012, 05:37 PM
We are working on this where I work. We are a leader in making jet and diesel fuel from algae. We are scaling up. Making large ponds in southern NM. Hiring too, but the site is remote.

I saw a show on that awhile back. Is it really viable? The prospects looked amazing.

bowtown
02-02-2012, 05:45 PM
fb should just buy twitter and have both. Twitter seems to appeal to kids more than grown ups but once the kids hit a certain age they will probably communicate more via fb.

The stats don't bear this out at all.

Tombstone RJ
02-02-2012, 05:48 PM
The stats don't bear this out at all.

yah ok but is twitter considered competition to fb? It'd be scary if they somehow merged or were owned by fb.

RhymesayersDU
02-02-2012, 06:07 PM
yah ok but is twitter considered competition to fb? It'd be scary if they somehow merged or were owned by fb.

As a user of both, I don't see them as competition really, mainly because of things like photo albums, etc. It's hard to explain... It's like, Twitter I can see what's happening right this second. Now FaceBook I can do that as well, but it also provides more historical data, where I've been, photo albums, etc.

Tombstone RJ
02-02-2012, 06:11 PM
As a user of both, I don't see them as competition really, mainly because of things like photo albums, etc. It's hard to explain... It's like, Twitter I can see what's happening right this second. Now FaceBook I can do that as well, but it also provides more historical data, where I've been, photo albums, etc.

I've never used twitter but to me it appears like a more glorified way to text people, only it goes out en masse to everyone so in essence you have a much larger audience.

houghtam
02-02-2012, 06:44 PM
This is what the headlines are referring to when it says "overnight millionaires". These are people that already had a stake in the "private" shares that will absolutely explode the day they hit the secondary market.

BTW, they aren't "overnight" either. This guy has been waiting since 2005 to cash in, but the media says that is "overnight".

Well, considering his shares weren't really technically worth anything and then a day later they were, I would say that, by definition, would be "overnight".

R8R H8R
02-02-2012, 06:47 PM
Here are 4 "hot" IPO's that I remember being popular when they came out. 2 are good, 2 are not so good. As always, invest with caution:

The 2 bad ones:

Krispy Kremes(KKD):
Open 4/05/00 - $7.88
Low 02/02/09 - $1.29
High 08/01/03 - $44.13
Now - $7.68 (2.5% loss)

Martha Stewart Omnimedia(MSO):
Open 10/19/99 - $34.36
Low 3/09/09 - $1.53
High 10/20/99 - $36.67 Interesting, the all-time high is the day after its opening!
Now - $4.71 (86% loss)

The 2 good ones:

Google (GOOG)
Open 8/19/04 - $100.00
Low 8/19/04 - $100.00 Goog has never had a closing price lower than its initial opening price, though it has had a handful of intra-day lower prices.
High 11/06/07 - $741.79
Now - $585.11 24% average annual compounded return.

Visa(V)
Open 3/19/08 - $58.26
Low 1/20/09 - $41.68
High 2/02/12 - $106.06
Now $106.06 Today it hit an all-time high. 15.4% avg. annual compound return.

Note: Low, High, and Now prices are closing prices.

These are four "hot issues" that I can remember. I am a financial advisor and I remember these as being issues that I had clients calling me about the most. Also, the Martha Stewart stock was inquired by mostly women, not so much by men.

So, if you are considering investing in FB, you can use this info FWIIW. Here are my thoughts that I passed along to folks at the time of the new issue for each:

I remember thinking that KKD & MSO as being fads, not necessarily long-term investments. Apparently, my instincts were right on those.

However, Goog & Visa, I thought were probable good long-term investments. Even though I have been right so far, I honestly had no idea, and still don't know, just how far these will go.

My thoughts on FB?
If it came out 2 1/2 years ago before I joined FB myself, and I knew anything about it, I probably would (wrongly) have thought it is just a fad.

However, there is no question that FB is a force in social networking, and that social networking is here to stay. Whether FB is managed well enough over the next 5-15 years to keep it on top is still to be seen.

One other thing to consider: the fact that demand is going to be historical, it will most likely be very overvalued when it comes out. But that is what was said when Google came out, so who knows?

R8R H8R
02-02-2012, 06:56 PM
Well, considering his shares weren't really technically worth anything and then a day later they were, I would say that, by definition, would be "overnight".

Not true. They have a value alright, or nobody would want them. Although I will concede that they are probably not worth $200 mil. privately, as they are publicly.

cutthemdown
02-02-2012, 08:17 PM
So, if i wanted to get in on this - how would I go about it?

Just wait until it's listed, call a broker, and buy some. NASDAQ trying to get it, be a big coup for them.

enjolras
02-02-2012, 08:20 PM
Not true. They have a value alright, or nobody would want them. Although I will concede that they are probably not worth $200 mil. privately, as they are publicly.

They've been selling on the secondary market for a couple of years at ever increasing valuations. Last I heard it was in the $70B range. So his shares have been worth a BUNCH for quite some time.

cutthemdown
02-02-2012, 08:22 PM
iNDISPENSABLE..................lol

Like I need to know every little detail of someone's life.

You're not getting it. Facebook is about sharing as little or as much as you like. It can draw both the extrovert, and the voyeur, and the hermit etc etc. It's great for bands to manage a fans list and make events for gigs. But you can use that same function to manage parties or events for whatever you want.

Thats what makes it a good product. It needs some work, they need to settle in on a format for the page, and the rules etc, but it has a lot of uses, for a lot of different types of people. Businesses both big and small want to be on facebook now etc etc.

Dedhed
02-02-2012, 08:22 PM
I think that growth is going to depend on how well Facebook does in the foreign markets. I truly believe they have reached their saturation point in America...

http://www.mobiledia.com/news/126521.html

Not even close in terms of users, and even further from saturation in terms of revenue.

Dedhed
02-02-2012, 08:28 PM
No Ebay has not went up from its high several years ago.
If you bought 100 shares of Ebay in 1998 at ipo for $1800 and held them they would be worth more than $77,000 today.

Chris
02-02-2012, 08:53 PM
There's little doubt to me that facebook will stay on top in the social networking arena if they continue to expand their offering (the software, not the PO) wisely to incorporate things that are becoming increasingly browser based.

R8R H8R
02-02-2012, 09:16 PM
They've been selling on the secondary market for a couple of years at ever increasing valuations. Last I heard it was in the $70B range. So his shares have been worth a BUNCH for quite some time.

You mean something else. The secondary market is the NYSE, Nasdaq, etc. that public companies like Apple & IBM trades on. FB is privately owned. As far as I know, there is no "stock exchange" for them.

The way I understand it, if an insider wants to sell his/her shares, and assuming they are allowed to under company bylaws, they have to find their own buyer. The price negotiated for each share may be what is stated on the books(not public info) or simply what the 2 parties agree to. This all depends on what is said in the bylaws.

With all that said, your initial point of it being a $70 bil company is pretty close, but I honestly don't know how it is derived because the books were never released until Wednesday. However, on the day it goes public, it will jump a minimum to a $100 billion dollar company! Wow, mind boggling.

houghtam
02-02-2012, 09:51 PM
You're not getting it. Facebook is about sharing as little or as much as you like. It can draw both the extrovert, and the voyeur, and the hermit etc etc. It's great for bands to manage a fans list and make events for gigs. But you can use that same function to manage parties or events for whatever you want.

Thats what makes it a good product. It needs some work, they need to settle in on a format for the page, and the rules etc, but it has a lot of uses, for a lot of different types of people. Businesses both big and small want to be on facebook now etc etc.

That's the biggest problem I see with FB is the constant need to change, but I suppose that comes with a constant influx of new members.

I love the FB hate though. It's quite amusing.

houghtam
02-02-2012, 09:52 PM
There's little doubt to me that facebook will stay on top in the social networking arena if they continue to expand their offering (the software, not the PO) wisely to incorporate things that are becoming increasingly browser based.

LOL yeah but the minute they come out with a "Facebook phone" (espn phone, palm, etc.), THEY'RE DOOMED!

cutthemdown
02-02-2012, 09:55 PM
That's the biggest problem I see with FB is the constant need to change, but I suppose that comes with a constant influx of new members.

I love the FB hate though. It's quite amusing.

Not sure how I would feel about it if not for the band, but I think its great for networking. Now if you are the type who doesn't want to interact with people online then its not for you. Some people just turned off by that sort of thing.

R8R H8R
02-02-2012, 10:42 PM
In a semi-related subject-- has anyone seen the Social Network? To put it mildly, Zuckerberg is not depicted very well at all in this movie. For disclosure and to be fair, the movie is based on a book that mainly used two things for most of its sources, the trial transcripts and info from the former best friend that sued him. Like any divorce, there are two sides to every story, so take it how you will.

However, if there is any truth at all in the movie concerning Zuckerberg's personality, then he is a candidate for the #1 jerk of all time. According to the movie, he is a total jerk to any women in his life, and threw his only friend under the bus and screwed him out of his rightful share of the company. He has no loyalty at all apparently, and very little integrity. By the advice of his counsel, Zuckerberg settled with his former friend who now owns 7% of the company, so he will soon be a very wealthy man, but Zuckerberg tried to prevent it. So Zuckerberg is at least somewhat culpable in this.

He made a deal with a couple of Harvard frat boys to start a website together, and not only did nothing for them, but instead started what would eventually become FB, leaving them high and dry. They also sued and won a huge $65 million dollar settlement. Again, when you settle this much money, you are at the very least somewhat culpable in the accusations.

I know that Steve Jobs(RIP) was considered a real jerk, especially in his early days, but I think he was a jerk in a much different way. He was certainly a tyrant to his employees, I know I wouldn't want to work for him, but I never heard of him flat-out stepping on people, and screwing them over, to get to the top. Maybe he did, but I don't remember hearing that.

Anyway, after seeing the movie, I kind of feel a little dirty having a FB account, but I am sure that will pass. :)

houghtam
02-03-2012, 01:11 AM
In a semi-related subject-- has anyone seen the Social Network? To put it mildly, Zuckerberg is not depicted very well at all in this movie. For disclosure and to be fair, the movie is based on a book that mainly used two things for most of its sources, the trial transcripts and info from the former best friend that sued him. Like any divorce, there are two sides to every story, so take it how you will.

However, if there is any truth at all in the movie concerning Zuckerberg's personality, then he is a candidate for the #1 jerk of all time. According to the movie, he is a total jerk to any women in his life, and threw his only friend under the bus and screwed him out of his rightful share of the company. He has no loyalty at all apparently, and very little integrity. By the advice of his counsel, Zuckerberg settled with his former friend who now owns 7% of the company, so he will soon be a very wealthy man, but Zuckerberg tried to prevent it. So Zuckerberg is at least somewhat culpable in this.

He made a deal with a couple of Harvard frat boys to start a website together, and not only did nothing for them, but instead started what would eventually become FB, leaving them high and dry. They also sued and won a huge $65 million dollar settlement. Again, when you settle this much money, you are at the very least somewhat culpable in the accusations.

I know that Steve Jobs(RIP) was considered a real jerk, especially in his early days, but I think he was a jerk in a much different way. He was certainly a tyrant to his employees, I know I wouldn't want to work for him, but I never heard of him flat-out stepping on people, and screwing them over, to get to the top. Maybe he did, but I don't remember hearing that.

Anyway, after seeing the movie, I kind of feel a little dirty having a FB account, but I am sure that will pass. :)

Saw the movie, loved it as far as movies go. I think like you said you have to take it all with a grain of salt and understand that there is probably a lot of the story that isn't told or isn't true.

That said, I think we need to keep in mind that MZ was what, 20? I think with the combination of his age and his intellectual ability, he certainly could be cut some slack on a lot of those points (especially the treating women like crap thing). Not saying he was right, just that how would we all act in a situation like that at the ripe old age of 20? Add to that a likely huge ego, and it's possible he may have simply felt entitled because he thought no one else could do what he could do.

Again, doesn't make it right, but let's put things in perspective a little.

RhymesayersDU
02-03-2012, 06:42 AM
I saw the movie and liked it a lot.

Regarding Zuckerberg, I don't feel bad for the guy because IMO it's his own fault. According to the author (last name is Mezrick or something, he also wrote the story about the MIT kids breaking Vegas and has another book about a NASA heist coming out) he had 3 different appointments with Zuckerberg for interviews, and at the last minute Zuckerberg cancelled them all.

Pony Boy
02-03-2012, 08:15 AM
Facebook is used primarily by adults of both sexes, but significantly female, in the prime of their active professional careers for social interaction.

Twitter is used primarily by young professionals of both sexes, but significantly female, to discuss current, real-time issues including world events and business-related topics.

LinkedIn is used primarily by older professionals of both sexes, but significantly male, to market themselves and their services.

MySpace is used primarily for nefarious, hormonal, and/or deceptive reasons for purposes that tend to exploit or expose unsuspecting users.

http://socialmediatoday.com/paulkiser/285851/who-uses-facebook-twitter-linkedin-myspace-4thq-1stq-stats-and-analysis

RhymesayersDU
02-03-2012, 09:12 AM
Facebook is used primarily by adults of both sexes, but significantly female, in the prime of their active professional careers for social interaction.

Twitter is used primarily by young professionals of both sexes, but significantly female, to discuss current, real-time issues including world events and business-related topics.

LinkedIn is used primarily by older professionals of both sexes, but significantly male, to market themselves and their services.

MySpace is used primarily for nefarious, hormonal, and/or deceptive reasons for purposes that tend to exploit or expose unsuspecting users.

http://socialmediatoday.com/paulkiser/285851/who-uses-facebook-twitter-linkedin-myspace-4thq-1stq-stats-and-analysis

As somebody who uses 3/4 (i.e., no MySpace) that seems pretty reasonable to me.

Gort
02-03-2012, 09:53 AM
a question for the facebook kiddies...

http://thechive.files.wordpress.com/2012/02/groundhog-dar-44.jpg

houghtam
02-03-2012, 10:08 AM
a question for the facebook kiddies...

http://thechive.files.wordpress.com/2012/02/groundhog-dar-44.jpg

If it's an inverse indication, then I'm worth a lot. :)

R8R H8R
02-03-2012, 10:50 AM
Saw the movie, loved it as far as movies go. I think like you said you have to take it all with a grain of salt and understand that there is probably a lot of the story that isn't told or isn't true.

That said, I think we need to keep in mind that MZ was what, 20? I think with the combination of his age and his intellectual ability, he certainly could be cut some slack on a lot of those points (especially the treating women like crap thing). Not saying he was right, just that how would we all act in a situation like that at the ripe old age of 20? Add to that a likely huge ego, and it's possible he may have simply felt entitled because he thought no one else could do what he could do.

Again, doesn't make it right, but let's put things in perspective a little.

I don't necessarily disagree with what you are saying. I believe you are just saying he is greatly lacking maturity and maybe he will outgrow it. Let's hope so. I wasn't a brilliant young entrepreneur at age 20, or any age for that matter, so maybe I can't relate; but I was taught as a toddler, that when you give your word, you give your word.

So breaking promises, and showing a profound lack of loyalty and integrity might have deeper issues that may manifest itself in some way throughout his life. In other words, it may also just be him, that is just who he is.

I hope I am wrong, because America and the world is a better place because of young entrepreneurs like Zuckerberg, I just hope he is able to see that a little humility is not a bad thing.

Beantown Bronco
02-03-2012, 10:53 AM
You do realize he has asperger's, don't you?

alkemical
02-03-2012, 11:04 AM
You do realize he has asperger's, don't you?

assburgers?

bowtown
02-03-2012, 11:05 AM
In a semi-related subject-- has anyone seen the Social Network? To put it mildly, Zuckerberg is not depicted very well at all in this movie. For disclosure and to be fair, the movie is based on a book that mainly used two things for most of its sources, the trial transcripts and info from the former best friend that sued him. Like any divorce, there are two sides to every story, so take it how you will.

However, if there is any truth at all in the movie concerning Zuckerberg's personality, then he is a candidate for the #1 jerk of all time. According to the movie, he is a total jerk to any women in his life, and threw his only friend under the bus and screwed him out of his rightful share of the company. He has no loyalty at all apparently, and very little integrity. By the advice of his counsel, Zuckerberg settled with his former friend who now owns 7% of the company, so he will soon be a very wealthy man, but Zuckerberg tried to prevent it. So Zuckerberg is at least somewhat culpable in this.

He made a deal with a couple of Harvard frat boys to start a website together, and not only did nothing for them, but instead started what would eventually become FB, leaving them high and dry. They also sued and won a huge $65 million dollar settlement. Again, when you settle this much money, you are at the very least somewhat culpable in the accusations.

I know that Steve Jobs(RIP) was considered a real jerk, especially in his early days, but I think he was a jerk in a much different way. He was certainly a tyrant to his employees, I know I wouldn't want to work for him, but I never heard of him flat-out stepping on people, and screwing them over, to get to the top. Maybe he did, but I don't remember hearing that.

Anyway, after seeing the movie, I kind of feel a little dirty having a FB account, but I am sure that will pass. :)

Jobs returned to Atari and was assigned to create a circuit board for the game Breakout. According to Atari co-founder Nolan Bushnell, Atari offered $100 for each chip that was eliminated in the machine. Jobs had little interest in or knowledge of circuit board design and made a deal with Wozniak to split the fee evenly between them if Wozniak could minimize the number of chips. Much to the amazement of Atari, Wozniak reduced the number of chips by 50, a design so tight that it was impossible to reproduce on an assembly line. According to Wozniak, Jobs told Wozniak that Atari gave them only $700 (instead of the offered $5,000) and that Wozniak's share was thus $350.[33] Wozniak did not learn about the bonus until ten years later, but said that had Jobs told him about it and said he needed the money, Wozniak would have given it to him.

http://en.wikipedia.org/wiki/Steve_Jobs

Great guy.

Pick Six
02-03-2012, 11:06 AM
Any successful entrepreneur has to have a bit of a crazy side. That's not an insult. After all, they are the risk-takers in this world. It's really no different that people who play "extreme" sports. Either you bask in the glory of doing something that the majority of people haven't done (or can't do), or you fall flat on your face...

alkemical
02-03-2012, 11:09 AM
Any successful entrepreneur has to have a bit of a crazy side. That's not an insult. After all, they are the risk-takers in this world. It's really no different that people who play "extreme" sports. Either you bask in the glory of doing something that the majority of people haven't done (or can't do), or you fall flat on your face...

Well...having the right connections and access to $ helps also.