Tags: Facebook | Zuckerberg | Steve | Jobs

Facebook’s Zuckerberg: Steve Jobs Advised on Company Focus

Tuesday, 08 Nov 2011 09:50 AM

Facebook Inc. Chief Executive Officer Mark Zuckerberg said Apple Inc. co-founder Steve Jobs advised him on how to sharpen his company’s focus and build the right management team for the world’s largest social network.

“I had a lot of questions for him,” Zuckerberg said in an interview with Charlie Rose. The topics included, “how to build a team around you that’s focused on building as high quality and good things as you are.”

Jobs, in the period before he died on Oct. 5, viewed it as his responsibility to give advice to up-and-coming technology executives including Zuckerberg, according to a biography of Jobs published last month. Jobs said in interviews with the author, Walter Isaacson, that he admired the Facebook CEO for not “selling out.”

Zuckerberg, who at age 27 is ranked No. 14 on the list of richest U.S. people according to Forbes, sought the advice as he navigates rapid growth and the onslaught of rivals including Google Inc. He’s also preparing Palo Alto, California-based Facebook, which boasts 800 million users, for a possible initial public offering as early as next year, people familiar with the matter have said.

Jobs and Zuckerberg also talked about “the aesthetics and kind of mission orientation of companies,” Zuckerberg said in the interview with Charlie Rose.

IPO Planning

Jobs didn’t propose an acquisition of Facebook by Apple, said Zuckerberg and Facebook Chief Operating Officer Sheryl Sandberg, who was also being interviewed by Rose.

Facebook doesn’t get approached about buyouts from other companies either, given its size, Sandberg said.

On the question of going public, Facebook will do so when it’s “ready,” she said.

Groupon Inc., which went public last week, didn’t affect the timing of a potential Facebook IPO, Zuckerberg said. A potential IPO isn’t “something I spend a lot of time on a day- to-day basis thinking about,” he said.

“We’ve made this implicit promise to our investors and to our employees that by compensating them with equity and by giving them equity, that at some point we’re going to make that equity worth something publicly and liquidly, in a liquid way,” he said. “Now, the promise isn’t that we’re going to do it on any kind of short-term time horizon. The promise is that we’re going to build this company so that it’s great over the long term, right. And that we’re always making these decisions for the long term, but at some point we’ll do that.”

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Facebook Inc. Chief Executive Officer Mark Zuckerberg said Apple Inc. co-founder Steve Jobs advised him on how to sharpen his company s focus and build the right management team for the world s largest social network. I had a lot of questions for him, Zuckerberg said in...
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Tuesday, 08 Nov 2011 09:50 AM
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