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Jan 28, 2013
On the rationale behind bringing Sheryl aboard.
What's the mission of Facebook?
More than 500M people use Facebook every day.
"Every service you use is now going to be better with your friends."
Movies, reading, music, news, etc.
In college, seemed inevitable that people would connect this way. Surprised they ended up doing it.
Moving from the wisdom of crowds to the "wisdom of friends."
Why even think about an IPO? Equity important to employees.
"If the company does well, then they get financially rewarded and can be set."
No answer to the "When?" question re: IPO.
Mark on Arab Spring: Social media's role is a bit overblown.
On China. Not in, and not their choice. Many other areas to expand to first.
Sheryl: not enough engineering talent in this country.
In the future all kinds of jobs will involve programming.
Facebook would have sent more jobs overseas if their internationalization guru hadn't won his green-card lottery.
To stay competitive: need to be able to hire engineers, and let them try their own ideas.
Facebook and Google are similar compared to the rest of the world. But in the Valley bubble they are very different.
Google about algorithms, machine-learning. Facebook about "the individual."
FB will focus on moving quickly no matter how big they get.
Sheryl: FB only wants to do one thing: social. Other companies want to do lots of things.
MZ: Facebook has evolved as a partnership company, allowing others of all sizes to "plug in."
Facebook "can win along with other people." Not trying to replace; FB wants to enable.
On competition between Google, Amazon, Apple and FB.
MZ: Not going to be one winner.
Google "trying to build their own little version of Facebook."
FB wants to work on every tablet, whether Amazon or Apple.
Why won't FB go into games? "Building games is really hard"
FB wants to do one hard thing well.
"An independent entrepreneur will always beat a division of a big company."
Mark on meeting and learning from Steve Jobs.
Would Facebook buy a large company?
Best to sell a company to advance its mission.
Is there anything Facebook doesn't want to know about its users?
"The question is, 'what do people want to tell about themselves?'"
Privacy has been very core, allowing users to decide with whom they want to share. Facebook led the way here.
Vast majority don't want to share everything; but if given the right tools, they will.
Sheryl on "Timeline" -- people can change their sharing settings later (if they change their mind).
People have a responsibility ultimately to decide what to share.
Sheryl likens it to Caller ID -- that initially had privacy concerns too.
Mark thinks the privacy question is: Do people have the tools to make sharing decisions?
Facebook has made privacy controls much more prominent.
Facebook's business model is "by far the most privacy friendly" to consumers.
Facebook only collects data people volunteer. Other companies are "collecting it behind your back."
Can someone take his/her profile down and erase it forever?
Is technology presenting enough opportunity for women?
Women have stalled out in the past decade.
Until women are as ambitious as men, nothing going to change.
What does it mean to be Mark Zuckerberg today?
Doesn't want to get isolated. Building products for the entire world.
Extremely simple otherwise.
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