Zuckerberg and Facebook

1. Zuckerberg and Facebook “Understanding people is not a waste of time.” -Mark Zuckerberg, co-founder of Facebook

2. Mark Zuckerberg

3. Zuckerberg’s Early Life • Mark Elliot Zuckerberg was born in 1984 in Dobbs Ferry, New York, into a well-educated family (father a dentist and mother a psychiatrist)

4. The Prodigy’s Interest in Computers • When Zuckerberg was about 12, he created a computer messaging program called “Zucknet” • His father used it in his dental office so his receptionist could inform him about a new patient without yelling across the room • The family used “Zucknet” to communicate within the house, and Mark created computer games with his friends for fun

5. Private Tutor: The Padawan Soon Becomes the Master • Mark’s parents eventually hired a private computer tutor for him named David Newman • The problem was, Newman later admitted to reporters, that the tutor had trouble keeping up with Zuckerberg! • Mark began taking graduate courses at a nearby college around this time

6. On to Preparatory School • Zuckerberg later studied at the prestigious Phillips Exeter Academy in New Hampshire • He was captain of the school’s fencing team and also excelled in literature (he earned a diploma in classics) • A modern day Renaissance Man!

7. AOL and Microsoft: No Thanks • Mark remained most passionate about computers • While still in high school, he created an early version of the music software Pandora, which he called Synapse • Several companies-including AOL and Microsoft-expressed an interest in buying the software and hiring the teenager before graduation (Mark declined)

8. On to Harvard • After graduating from high school in 2002, Zuckerberg enrolled at Harvard University • By his sophomore year, he had developed a reputation as the go-to software developer on campus • He built a program called CourseMatch, which helped students choose their classes based on course selections of other users

9. FaceMash • Zuckerberg also invented FaceMash • This compared the pictures of two students on campus and allowed users to vote on which one was more attractive • The program became extremely popular, but was later shut down by the school administration after it was deemed to be inappropriate

10. Recruiting Zuckerberg • Based on the reputation Zuckerberg earned off of his previous projects, three of his fellow students-Divya Narenda, and twins Cameron and Tyler Winklevoss-sought him out to work on an idea for a social networking site they called Harvard Connection • The site was designed to use info from Harvard’s student networks to create a dating site for the Harvard elite

11. “The Facebook” • Zuckerberg agreed to help with the project, but soon dropped out to work on his own social networking site with friends Dustin Moskovitz, Chris Hughes, and Eduardo Saverin • Zuckerberg and his friends created a site that allowed users to create their own profiles, upload photos, and communicate with other users

12. “The Facebook” • The group ran the site-first called “The Facebook”-out of a dorm room at Harvard until June 2004 • After his sophomore year at Harvard, Zuckerberg dropped out of college to devote himself to Facebook full time • He moved the company to Palo Alto, California • By the end of 2004, FB had 1 million users

13. The Rise of Facebook • In 2005, Zuckerberg’s enterprise received a huge financial boost from the venture capital firm Accel Partners • Accel invested over $12 million into the network, which at the time was only open to Ivy League students • Zuckerberg’s company gained access to other colleges, high schools, & international schools • By December of 2005, the membership of Facebook rose to more than 5.5 million users!

14. Yahoo! and MTV: No Thanks • Facebook began attracting the interest of other companies, who wanted to advertise on the popular social network • Not wanting to sell out, Zuckerberg turned down offers from companies such as Yahoo! and MTV Networks • Zuckerberg focused on expanding the site, adding more features, and opening up his project to outside developers

15. First Bump in the Road: Harvard Connection Creators Feel Betrayed • In 2006, the creators of Harvard Connection claimed that Zuckerberg stole their idea, and insisted that the software developer needed to pay for their business losses • Zuckerberg argued that the ideas were based on two very different types of social networks

16. The Apology • After lawyers searched Zuckerberg’s records, incriminating instant messages revealed that Zuckerberg may have intentionally stolen the intellectual property of Harvard Connection and offered the private information of Facebook users to his friends • Zuckerberg later apologized for the incriminating messages, and said he regretted them: “If you’re going to go on to build a service that is influential and a lot of people rely on, then you need to be mature, right? I think I’ve grown & learned a lot.”

17. The Settlement • An initial settlement of $65 million was reached between the two parties • The legal dispute continued well into 2011, after Narenda and the Winklevosses claimed they were misled regarding the value of their stock

18. The Accidental Billionaires • The 2009 book The Accidental Billionaires, written by Ben Mezrich, caused another personal challenge for Zuckerberg • Mezrich was heavily criticized for his re-telling of Zuckerberg’s story, which used invented scenes, re-imagined dialogue, and fictional characters

19. The Result: The Social Network • Regardless of how true-to-life the story was, Mezrich sold the rights of the book to screenwriter Aaron Sorkin • The popular film The Social Network received eight Academy Award nominations

20. Similarities between Mark Zuckerberg and Steve Jobs • Both dropped out of college • Both innovators who founded their iconic companies in their early twenties • Both very competitive (Apple & FB=rivals) • Zuckerberg message on his Facebook profile after Jobs passed away: “Steve, thank you for being a mentor and a friend. Thanks for showing what you build can change the world. I will miss you.”

21. The Technological Elites & Obama

22. Oligopoly? • How does the previous photograph taken at a White House dinner (2011) support the view that social media is slowly becoming an oligopoly? What leaders / companies are in the photo? Who are not?