5 Myths About Mark Zuckerberg


Mark Zuckerberg is a Business Whiz

How can Mark Zuckerberg notbe a business whiz? The guy is worth billions after launching Facebook, a social network that pretty much everyone in the world knows about, and that's used by 1 billion people today -- and he did it all when he was still a pajama-clad kid in college [source: Vance]. Heck, he was even named Timemagazine's "Person of the Year" in 2010 [source: Grossman].

True. But there are business whizzes, and there are technology whizzes. Many, if not most, business experts would agree Zuckerberg is a techno-whiz. But, say some, what business whiz would come up with the IPO that Zuckerberg did? Expected to earn him at least $846 million, Facebook's stock tanked shortly after it debuted, and Zuck's net worth actually fell by $8.1 billion instead [sources: Anderson, Forbes]. Why? He priced it way too high, and investors feel Facebook doesn't have a sustainable revenue model for the future, as people are currently switching from PCs and laptops to smart phones [sources: The Week, Golub].

If that isn't enough proof, Zuckerberg himself admitted he knew nothing about business a full two years into Facebook, when Yahoo! offered him $1 billion to buy it and he refused, infuriating employees and investors [source: Miller]. He's undoubtedly learned a lot since then, but certainly not enough to be called a business whiz.