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MARK ZUCKERBERG: CHAIRMAN AND CHIEF EXECUTIVE OF FACEBOOK, INC.
Submitted to: Ms.Manisha Raina A.P. RBIM
Submitted By: Shweta (1175041) MBA (RBIM)- 4th Sem
INC. He transferred to Phillips Exeter Academy in his junior year. New York. Zuckerberg was raised Jewish and has since described himself as an atheist. we have seen and learned a lot of things. and Arielle. were brought up in Dobbs Ferry.4 billion as of 2012. Everyday. He and his three sisters. and we are still in the learning process. astronomy and physics) and classical studies (on his college application. the youngest billionaire in the world. He was a fencing star and captain of the fencing team. .MARK ZUCKERBERG: CHAIRMAN AND CHIEF EXECUTIVE OF FACEBOOK. Zuckerberg claimed that he could read and write French. At Ardsley High School. Hebrew. and ancient Greek). we come across tough. He is an American computer programmer and Internet entrepreneur. EARLY LIFE Zuckerberg was born in 1984 in White Plains. 1984. Randi. Zuckerberg excelled in classics. and Edward Zuckerberg. Mark Elliot Zuckerberg was born on May 14. Latin. In the course of building a business. One of such inspiring entrepreneurs is Mark Zuckerberg. Zuckerberg is the chairman and chief executive of Facebook. He is best known as one of five cofounders of the social networking site Facebook. Inc. He is the son of Karen (née Kempner). Zuckerberg's personal wealth is estimated to be $9. New York. a psychiatrist. a dentist. die hard entrepreneurs whose drive and achievements inspire us. Donna. where he won prizes in science (math.
Zuckerberg launched "The facebook". he said. he created a different program he initially called Facemash that let students select the best looking person from a choice of photos. and later hired software developer David Newman to tutor him privately. under the company name Intelligent Media Group. originally located at thefacebook. It is considered a "primitive" version of AOL's Instant Messenger. which was posted to Slashdot and received a rating of 3 out of 5 from PC Magazine. IN COLLEGE: By the time he began classes at Harvard. On February 4. Microsoft and AOL tried to purchase Synapse and recruit Zuckerberg. he built a music player called the Synapse Media Player that used artificial intelligence to learn the user's listening habits. but he chose instead to enroll at Harvard in September 2002. His father taught him Atari BASIC Programming in the 1990s. Zuckerberg took a graduate course in the subject at Mercy College near his home while still in high school. by an editorial in The Harvard Crimson about the Facemash incident however subsequent events have revealed this to be untrue. Zuckerberg began writing code for a new website. He enjoyed developing computer programs. Zuckerberg had already achieved a "reputation as a programming prodigy". He studied psychology and computer science. since his father's dental practice was operated from their home.A SOFTWARE DEVELOPER IN SCHOOL: Zuckerberg began using computers and writing software in middle school. he built a software program he called "ZuckNet" that allowed all the computers between the house and dental office to communicate with each other. I In January 2004. especially communication tools and games. 2004. adding that it was "tough to stay ahead of him". He was inspired. During Zuckerberg's high school years. A short time later. which came out the following year.com . In one such program. Newman calls him a "prodigy".
. New York University. Brown and Yale. he explained: I guess we could . enlisting the help of roommate Dustin Moskovitz. Samyr Laine. On July 21. Cornell. . 2010. Having media corporations owned by conglomerates is just not an attractive idea to me. California. the prep school from which Zuckerberg graduated in 2002. They leased a small house that served as an office. Zuckerberg's Facebook started off as just a "Harvard thing" until Zuckerberg decided to spread it to other schools. For me and my colleagues. Zuckerberg explained his reasoning: It's not because of the amount of money. the most important thing is that we create an open information flow for people. a triple jumper representing Haiti at the 2012 Summer Olympics. Over the summer. 2004. we are keeping things running.‖ which students referred to as ―The Facebook. I mean. with Moskovitz and some friends. Columbia. That’s the simplest thing we could do.CAREER IN FACEBOOK Zuckerberg launched Facebook from his Harvard dormitory room on February 4. It published its own student directory. They got their first office in mid-2004. We make enough money. Penn. we are growing at the rate we want to. Right. The average for us is a little less than 10 percent of the pages and the average for search is about 20 percent taken up with ads . Zuckerberg reported that the company reached the 500 million-user mark. Zuckerberg met Peter Thiel who invested in the company. Zuckerberg moved to Palo Alto. In an interview in 2007. If you look at how much of our page is taken up with ads compared to the average search query. Dartmouth. An earlier inspiration for Facebook may have come from Phillips Exeter Academy. shared a room with Zuckerberg during Facebook's founding.‖ Once at college. But we aren’t like that. When asked whether Facebook could earn more income from advertising as a result of its phenomenal growth.... ―The Photo Address Book. They began with Stanford.
Zuckerberg says: ―I often say inside the company that my goal was never to just create a company. nine years after Facebook’s launch.‖ ―Facebook was not originally created to be a company. a trademark of many top companies.‖ As stated. and we will hear him say that he knew he wanted to get into tech startups.. the mission of Facebook is to make the world more open and connected. It was built to accomplish a social mission – to make the world more open and connected. Facebook has done a lot of things right. etc. The business aspect of Facebook is to serve advertisements to people who are interested and expose them to brands that may appeal to them. 1. not him. Now. A lot of people have been misinterpreting that as if I don’t care about revenue or profit or any of those things. This mission. Ultimately what not being just a company means to me. is just not being just that —building something that actually makes a really big change in the world. it has become its own multi-billion dollar empire. multi-billion dollar tech corporation. You need to do those things to succeed in any meaningful way. but he never thought it was going to be Facebook. It scaled well.. . musicians.ENTREPRENEURIAL LESSONS FROM MARK ZUCKERBERG Listen to Zuckerberg discuss the early days of Facebook.‖ According to Zuckerberg. and forming connections with others is why Facebook exists. has a great UI (user interface) and always has been iterating. ―Building a mission and building a business go hand in hand. ―That’s not actually it at all. Let’s look at what drives Zuckerberg and how his team at Facebook is changing the world for the better. of consumers having closer relationships with businesses. people connect and meet new people and businesses on Facebook. BUSINESSES NEED TO HAVE HIGHER PURPOSE In a May 2012 interview with Forbes. He figured a social network would be built by a big. Thus.‖ he continued. There are a few things we can learn from Zuckerberg and his relatively short stint as CEO.
GROWTH SHOULD BE A CORE COMPETENCE Zuckerberg says that once you have a product you’re happy with. and their only job was to get people to sign up and use Facebook. the user screams faded and everyone is adapting to Timeline. For instance. Like Zuckerberg states. they slow down too much because they’re more afraid of making mistakes than they are of losing opportunities by moving too slowly. Eventually.‖ The idea is that if you never break anything. Zuckerberg says in his letter to shareholders: ―Moving fast enables us to build more things and learn faster. Once Facebook . you should centralize things like a growth team. it means that if you aren’t making mistakes. MOVE FAST AND BREAK THINGS ―Move fast and break things‖ is a motto that Facebook has become known for. Timeline would appear to be a ―false positive‖ mistake. you aren’t moving fast enough. there isn’t enough content for them to keep coming back to see their News Feed. In fact. meaning that it appeared to be a huge mistake at first. people won’t remember the mistakes years from now. Then there are the real mistakes. 3. as Zuckerberg has pointed out. The first impression of Timeline was overwhelmingly negative for many users. One thing that the growth team at Facebook discovered was that a new signup needs 10 friends in order to stay engaged and keep coming back to Facebook.2. was born. We have a saying: ―Move fast and break things. you’re probably not moving fast enough. as most companies gro w. Ultimately. If they have any fewer than 10 friends. They’ll remember the value that you provided. they didn’t like being forced into using Timeline so much that a verb. Timelined. However. At Facebook.‖ An instance where Facebook upset many users was the integration of Timeline into user profiles. like Beacon. they were called the ―Spread Facebook‖ team. but ultimately turned out to be a success. The key with mistakes is distinguishing between the ―false positive‖ mistakes and the real mistakes.
It would allow a merchant to undercut Amazon’s price. it removed a lot of the unnecessary red tape from the new user setup and helped the beginners discover people they might know.‖. you cannot shy away from risk. It is constantly experimenting and inventing. They’ve eliminated ―New Coke‖ and brought back ―Classic Coke.had this information. but Coke has rebounded since then.‖ You can find a good write up about Facebook’s user growth that Andy Johns. It’s a risk that didn’t pay off. As Zuckerberg says: ―In a world that’s changing really quickly the only strategy where you’re guaranteed to fail is not taking any risk and not changing anything. I think it’s worth going through and having the discipline to do this exercise. That was a big risk for Coke – changing the formula for their top selling product.Mark Zuckerberg If you want to move fast and break things. One big risk for them was letting other merchants sell through Amazon.‖ Consumers didn’t like it and were vocal about their displeasure. One of the biggest risks taken by a major US corporation was Coca-Cola’s introduction of New Coke. DON’T BE AFRAID TO TAKE RISK ―The biggest risk is not taking any risk. The biggest mistake you can make is not making any mistakes. which would lead to fewer sales for Amazon. Coca-Cola introduced ―New Coke. former Facebook user growth employee. 4.‖ . unafraid to fail.‖ Amazon is a company known for its risks. but I think for each of your companies once you get a core product that you’re happy with. Amid a shrinking market share. Zuckerberg says it’s different for every company: ―It’s going to be different things for different companies.
He says: ―There’s like 1000 things going on at any point in given time [at Facebook]. it doesn’t matter. But if we can focus at every step along the way on moving quicker…then we’ll move as quickly as a company that only has 500 people. they remember the things that you did that were good. Zuckerberg says that entrepreneurs need to stay focused on providing value for users.‖ . just slow down dramatically as they grow. You need to focus on those…. was that all technology companies. I just think that that ability to build stuff quicker will be a big advantage for us and will help us build better products over the long term. One of the big theories that I had about that. then you get through all that stuff…. and that’s okay.‖ Zuckerberg later says: ―We place a really big premium on moving quickly. people don’t remember those years from now. Just stay focused on the stuff that you’re providing to your users. You don’t get judged by the mistakes. because we’ve invested so much in building up the infrastructure and tools and also the culture that tells people to take risks and try things out.you have time to learn. You’re going to make a ton of mistakes. In a talk at Startup School 2011. and learn along the way. and as long as you stay focused on how you’re providing value to your users and customers and you have something that is unique and valuable and you understand and that you’re providing. STAY FOCUSED ON YOUR PRODUCT AND DON’T WORRY ABOUT MISTAKES Zuckerberg and his team at Facebook focus on moving fast and making mistakes.5.probably the most inspiring surprising t hing is that you can be so bad at so many things. and probably all companies. and there’s like one or two that actually matter. you’re not going to know everything going into it up front. It’s his philosophy that people won’t remember the mistakes you make in the long run.
planned it and worked it out. there’s nothing extraordinary about Mark Zuckerberg’s success. There’s nothing abnormal about his emergence as the youngest billionaire in the world. He deserves the position because he dreamed it. that was why he became the youngest billionaire in the world. His success has nothing to do with luck. .OTHER GOOD ZUCKERBERG TIDBITS ARE: Have a dream Think Big Believe in yourself Follow your passion Be prepared for criticism Be diligent Stick to the process In conclusion. He stuck to his passion and focused on fulfilling the Facebook mission.
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