I started today feeling very down on Facebook. This feeling changed when I found this letter from Mark Zuckerberg to shareholders, basically saying that Facebook doesn’t exist simply to chase money. Crazy as it sounds, I believe him. I think Zuckerberg’s still very much still a hacker, in spite of Facebook’s popularity.
It’s given me hope that Zuck’s not a bad guy and there might be hope for Facebook yet. That said, if Zuck thinks he controls Facebook he’d better pay attention to the Hacked by Mitt Romney stuff.
It’s Becoming Clear That No One Actually Read Facebook’s IPO Prospectus Or Mark Zuckerberg’s Letter To Shareholders
As Facebook’s stock continues to collapse, the volume of whining is increasing.
Four months ago, you will recall, Facebook was viewed as “the next Google.” Now, with no major change in the fundamentals, it’s viewed as an over-hyped disaster. Meanwhile, there is ever-louder grumbling that 26-year-old Facebook CEO Mark Zuckerberg is in over his head and should be relieved of command.
As I listen to all this whining, I have a simple question:
Didn’t anyone even read Facebook’s IPO prospectus?
The answer, I can only assume, is “no.”