General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forumsmaybe Mark Zuckerberg just Doesn't Care about the STock Price that Much
the media is making much of the fall in facebook stock. and how zuckerberg lost some 7 billion,(he still has more than 10billion).
on CNN they had some guy talking about how they might need to bring in someone who wears a suit and can be taken seriously.
but i don't see what the problem is. isn't the problem that those in suits just wanted to continually increasing their wealth short term without considering long term ? aren't things like stability, slow growth etc important allso.
i don't know much about stocks so i could be wrong about this.
freshwest
(53,661 posts)jberryhill
(62,444 posts)aquart
(69,014 posts)It also has the effect as cancer.
Firebrand Gary
(5,044 posts)Zuckerberg is incredibly important to FB, someone else at the helm would be a setback.
Atman
(31,464 posts)His shareholders can sue him if the walks away and tanks the company. Which is what he'd probably love to do. He created FB as a college project, and it grew beyond what he ever intended it to be. Now he's worth billions...FUCK IT...walk away and never work again! But his shareholders would break him. They sue him for every last penny of that 10 billion. So he needs to hang on and find a way to gracefully transfer out, without freaking out investors and causing further panic on the stock. It's his company, but at this point he doesn't have that much serious power, just lots of money. He's got a Board of Directors and shareholders he has to answer to now.
That's Capitalism, kids!
pa28
(6,145 posts)If you look back on some of the media coverage before the IPO and compare it to the argument you cited from CNN just today you'll find a similarity.
At that time big investors were complaining about his lack of respect, casual dress and lack of a clear revenue plan. Major institutions thought a "serious" person should be brought in to lead FB into the era of a public company.
Regardless of the huffing and puffing they all brought their money and went along with Zuckerberg's plan for a highly valued IPO based on massive earnings growth for years into the future. They bought the pitch.
Zuckerberg suckered quite a few sophisticated big money investors in the end. They should probably just swallow their pride and admit they were outsmarted by the guy in the hoodie.
tularetom
(23,664 posts)But that's just me. I have very few shirts that even have a collar, fewer ties and a suit I bought solely for the purpose of attending my granddaughter's wedding.
Mark Zuckerberg is holding onto the tail of a tiger he created. Part of his problem is that he listened to people in suits a few years back.
TreasonousBastard
(43,049 posts)because the only thing that will help is to figure out how to get people to spend money on iPads and Android phones, cuz that's where most of the Facebook action is. Suits or jeans, it's a rare genius that can pull that off.
Facebook is actually making money, just not enough money. Unlike Amazon, which was allowed to lose money for years in the hopes of becoming a monopoly, Facebook has no foreseeable future. So, it must make money now before it becomes MySpace.
And Zuckerberg really doesn't seem to care much about the money, which is what really scares the shit out of the suits. He's already said so, and has been acting as if he doesn't. Amazingly enough, some people are motivated by the project, not the payoff.
cthulu2016
(10,960 posts)Having done so, they have an obligation to the performance of the stock.