The Bankwatch

Tracking the consumer evolution of financial services

e G8 – Closing conversation with Mark Zuckerberg

This was a revealing conversation and useful in understanding better the focus that FaceBook has gained over the last few years.

e G8 – Closing conversation with Mark Zuckerberg (look for closing conversation with Mark).  The interviewer, Maurice Lévy (Chairman & CEO Publicis Groupe) is a bit annoying but you can zip over his attempts at humour.

Some key takeaways that I got:

  • Mark is very focussed on what FaceBook is good at and remaining focussed on that
  • He spoke of the company DNA, which reflects his majors
  • Computer Science – Technology
  • Psychology – Human social behaviour online
  • He pointedly noted they will not build phones or their own applications.  They will leave this to experts in those fields and allow FaceBook to bring its core expertise of sharing amongst known friends and family and allow others to lever the platform through the FaceBook Platform which was launched 5 years ago.
    • Examples:  gaming (Zynga) which now has a larger market cap than Electronic Arts he notes.  He also mentioned they are working with Netflix to bring on to the FaceBook platform.  Netflix stock rose immediately on that comment.
    • netflix

    All in all a refreshing interview that displayed a clarity of vision and clear focus on core competencies of the company.  The vision of the Facebook Platform as the key growth strategy was clear.  Michael Wolf at GigaOm makes reference to that here too in slightly more grand terms (Social Operating System).

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    Written by Colin Henderson

    May 29, 2011 at 20:24

    Posted in Uncategorized

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