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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

die hard entrepreneurs whose drive and achievements inspire us. Zuckerberg excelled in classics. He was a fencing star and captain of the fencing team. 1984. Zuckerberg claimed that he could read and write French. He is an American computer programmer and Internet entrepreneur. we have seen and learned a lot of things. At Ardsley High School.MARK ZUCKERBERG: CHAIRMAN AND CHIEF EXECUTIVE OF FACEBOOK. Zuckerberg's personal wealth is estimated to be $9. and Arielle. INC. Donna.4 billion as of 2012. where he won prizes in science (math. He is the son of Karen (née Kempner). He is best known as one of five cofounders of the social networking site Facebook. Randi. Everyday. . Zuckerberg was raised Jewish and has since described himself as an atheist. In the course of building a business. Zuckerberg is the chairman and chief executive of Facebook. Mark Elliot Zuckerberg was born on May 14. New York. a psychiatrist. He transferred to Phillips Exeter Academy in his junior year. were brought up in Dobbs Ferry. One of such inspiring entrepreneurs is Mark Zuckerberg. New York. the youngest billionaire in the world. He and his three sisters. we come across tough. and ancient Greek). Hebrew. Inc. astronomy and physics) and classical studies (on his college application. Latin. EARLY LIFE Zuckerberg was born in 1984 in White Plains. and we are still in the learning process. a dentist. and Edward Zuckerberg.

Zuckerberg began writing code for a new website. Zuckerberg launched "The facebook". he built a music player called the Synapse Media Player that used artificial intelligence to learn the user's listening habits. He studied psychology and computer science. he said. by an editorial in The Harvard Crimson about the Facemash incident however subsequent events have revealed this to be untrue. originally located at thefacebook.A SOFTWARE DEVELOPER IN SCHOOL: Zuckerberg began using computers and writing software in middle school. since his father's dental practice was operated from their home. In one such program. adding that it was "tough to stay ahead of him". He was inspired. which was posted to Slashdot and received a rating of 3 out of 5 from PC Magazine. especially communication tools and games. Zuckerberg took a graduate course in the subject at Mercy College near his home while still in high school.com . He enjoyed developing computer programs. he created a different program he initially called Facemash that let students select the best looking person from a choice of photos. On February 4. Zuckerberg had already achieved a "reputation as a programming prodigy". and later hired software developer David Newman to tutor him privately. During Zuckerberg's high school years. under the company name Intelligent Media Group. which came out the following year. Microsoft and AOL tried to purchase Synapse and recruit Zuckerberg. I In January 2004. It is considered a "primitive" version of AOL's Instant Messenger. IN COLLEGE: By the time he began classes at Harvard. His father taught him Atari BASIC Programming in the 1990s. Newman calls him a "prodigy". but he chose instead to enroll at Harvard in September 2002. A short time later. 2004. he built a software program he called "ZuckNet" that allowed all the computers between the house and dental office to communicate with each other.

Dartmouth. the most important thing is that we create an open information flow for people. They got their first office in mid-2004... They began with Stanford.‖ Once at college. Columbia. Cornell. ―The Photo Address Book. But we aren’t like that. we are growing at the rate we want to. I mean. Over the summer. Right. Zuckerberg explained his reasoning: It's not because of the amount of money. 2004. California. If you look at how much of our page is taken up with ads compared to the average search query. They leased a small house that served as an office. Penn. On July 21. It published its own student directory. Having media corporations owned by conglomerates is just not an attractive idea to me.CAREER IN FACEBOOK Zuckerberg launched Facebook from his Harvard dormitory room on February 4. Zuckerberg's Facebook started off as just a "Harvard thing" until Zuckerberg decided to spread it to other schools. we are keeping things running. the prep school from which Zuckerberg graduated in 2002. Brown and Yale. with Moskovitz and some friends. That’s the simplest thing we could do. For me and my colleagues.‖ which students referred to as ―The Facebook. We make enough money. he explained: I guess we could .. a triple jumper representing Haiti at the 2012 Summer Olympics. Samyr Laine. An earlier inspiration for Facebook may have come from Phillips Exeter Academy. New York University.. . When asked whether Facebook could earn more income from advertising as a result of its phenomenal growth. 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 met Peter Thiel who invested in the company. shared a room with Zuckerberg during Facebook's founding. In an interview in 2007. Zuckerberg reported that the company reached the 500 million-user mark. enlisting the help of roommate Dustin Moskovitz. 2010. Zuckerberg moved to Palo Alto.

etc.. This mission.‖ ―Facebook was not originally created to be a company. and we will hear him say that he knew he wanted to get into tech startups. it has become its own multi-billion dollar empire. people connect and meet new people and businesses on Facebook. 1. Let’s look at what drives Zuckerberg and how his team at Facebook is changing the world for the better.‖ he continued. Ultimately what not being just a company means to me. Now. is just not being just that —building something that actually makes a really big change in the world. ―That’s not actually it at all.‖ As stated. It was built to accomplish a social mission – to make the world more open and connected. ―Building a mission and building a business go hand in hand. a trademark of many top companies. musicians. multi-billion dollar tech corporation. It scaled well. of consumers having closer relationships with businesses.‖ According to Zuckerberg. Thus. and forming connections with others is why Facebook exists. but he never thought it was going to be Facebook. Zuckerberg says: ―I often say inside the company that my goal was never to just create a company. A lot of people have been misinterpreting that as if I don’t care about revenue or profit or any of those things. There are a few things we can learn from Zuckerberg and his relatively short stint as CEO. Facebook has done a lot of things right. The business aspect of Facebook is to serve advertisements to people who are interested and expose them to brands that may appeal to them. not him. . the mission of Facebook is to make the world more open and connected. You need to do those things to succeed in any meaningful way. BUSINESSES NEED TO HAVE HIGHER PURPOSE In a May 2012 interview with Forbes. nine years after Facebook’s launch. He figured a social network would be built by a big.ENTREPRENEURIAL LESSONS FROM MARK ZUCKERBERG Listen to Zuckerberg discuss the early days of Facebook.. has a great UI (user interface) and always has been iterating.

3. as Zuckerberg has pointed out. but ultimately turned out to be a success. Timeline would appear to be a ―false positive‖ mistake. We have a saying: ―Move fast and break things. and their only job was to get people to sign up and use Facebook. Ultimately. like Beacon. Eventually. Once Facebook . Like Zuckerberg states. GROWTH SHOULD BE A CORE COMPETENCE Zuckerberg says that once you have a product you’re happy with. 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. The key with mistakes is distinguishing between the ―false positive‖ mistakes and the real mistakes. they didn’t like being forced into using Timeline so much that a verb. However. you should centralize things like a growth team. meaning that it appeared to be a huge mistake at first.2. as most companies gro w. For instance. They’ll remember the value that you provided. In fact. Timelined. they were called the ―Spread Facebook‖ team. was born. Zuckerberg says in his letter to shareholders: ―Moving fast enables us to build more things and learn faster. MOVE FAST AND BREAK THINGS ―Move fast and break things‖ is a motto that Facebook has become known for. The first impression of Timeline was overwhelmingly negative for many users. If they have any fewer than 10 friends. Then there are the real mistakes. you aren’t moving fast enough. you’re probably not moving fast enough. At Facebook. it means that if you aren’t making mistakes. they slow down too much because they’re more afraid of making mistakes than they are of losing opportunities by moving too slowly. there isn’t enough content for them to keep coming back to see their News Feed. people won’t remember the mistakes years from now.‖ An instance where Facebook upset many users was the integration of Timeline into user profiles.‖ The idea is that if you never break anything. the user screams faded and everyone is adapting to Timeline.

which would lead to fewer sales for Amazon.had this information. you cannot shy away from risk.Mark Zuckerberg If you want to move fast and break things.‖ Consumers didn’t like it and were vocal about their displeasure. unafraid to fail. Zuckerberg says it’s different for every company: ―It’s going to be different things for different companies. I think it’s worth going through and having the discipline to do this exercise. 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. One big risk for them was letting other merchants sell through Amazon. but I think for each of your companies once you get a core product that you’re happy with. The biggest mistake you can make is not making any mistakes. Amid a shrinking market share.‖ Amazon is a company known for its risks. but Coke has rebounded since then. It is constantly experimenting and inventing. One of the biggest risks taken by a major US corporation was Coca-Cola’s introduction of New Coke. 4. it removed a lot of the unnecessary red tape from the new user setup and helped the beginners discover people they might know. It would allow a merchant to undercut Amazon’s price. It’s a risk that didn’t pay off. That was a big risk for Coke – changing the formula for their top selling product. former Facebook user growth employee.‖ . Coca-Cola introduced ―New Coke.‖ You can find a good write up about Facebook’s user growth that Andy Johns. DON’T BE AFRAID TO TAKE RISK ―The biggest risk is not taking any risk. They’ve eliminated ―New Coke‖ and brought back ―Classic Coke.‖.

they remember the things that you did that were good. You’re going to make a ton of mistakes.5. you’re not going to know everything going into it up front. and that’s okay. 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. then you get through all that stuff…. In a talk at Startup School 2011. Zuckerberg says that entrepreneurs need to stay focused on providing value for users. He says: ―There’s like 1000 things going on at any point in given time [at Facebook]. You need to focus on those….probably the most inspiring surprising t hing is that you can be so bad at so many things. 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. people don’t remember those years from now. 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. 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.you have time to learn. STAY FOCUSED ON YOUR PRODUCT AND DON’T WORRY ABOUT MISTAKES Zuckerberg and his team at Facebook focus on moving fast and making mistakes. was that all technology companies. You don’t get judged by the mistakes. it doesn’t matter. It’s his philosophy that people won’t remember the mistakes you make in the long run. and probably all companies. and learn along the way. and there’s like one or two that actually matter.‖ Zuckerberg later says: ―We place a really big premium on moving quickly. Just stay focused on the stuff that you’re providing to your users.‖ . One of the big theories that I had about that. just slow down dramatically as they grow.

. there’s nothing extraordinary about Mark Zuckerberg’s success. His success has nothing to do with luck. He stuck to his passion and focused on fulfilling the Facebook mission. There’s nothing abnormal about his emergence as the youngest billionaire in the world. that was why he became the youngest billionaire in the world.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 deserves the position because he dreamed it. planned it and worked it out.