CONFIDENTIAL HIGHLY CONFIDENTIAL TREATMENT REQUESTED NOT FOR CIRCULATION/COMMITTEE MEMBERS AND STAFF ONLY

Today, Facebook is seen as the prime example for the power of network effects – and yet, one wonders where Facebook would be had it not acquired Instagram back in 2012. People also seem to forget about all the other social apps which Facebook has bought and subsequently shut down over the years. Why would a company that has supposedly “won the mark... See more

This is a very deep memo about VR and AR that was sent by Zuckerberg in 2015.In this memo, he shared that VR / AR was going to be the biggest technology ten years from then (by 2025). Mark mentions their urgency about developing a brand, financial, and strategic goal in order to not be left behind by Google and Apple which have an advantage because... See more

But then we could do things — we had a principal called Do the Simple Thing First and it’s funny to think about doing that when you have millions or even a billion users, but even our ad tech, we know we couldn’t integrate right at the beginning just because the systems were different. So v1 was manually insertion, not even programmatic selling wi

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When a big company makes an offer to acquire a successful startup, it almost always offers too much or too little: founders only sell when they have no more concrete visions for the company, in which case the acquirer probably overpaid; definite founders with robust plans don’t sell, which means the offer wasn’t high enough. When Yahoo! offered to

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