Business Insider editor Henry Blodget wrote a big cover story for New York Magazine this week.
Entitled “The Maturation Of The Billionaire Boy-Man,” it lays out a startling thesis:
The geeky socially-challenged whiz-kid portrayed in The Social Network has become one of the tech industry’s two best CEOs (with the other being Jeff Bezos).
For a lot of reasons, starting with this one:
Mark Zuckerberg doesn’t give a damn about Wall Street.
(IPO buyers, take note.)
Unlike most CEOs, who obsess about stock prices and quarterly earnings, Zuckerberg is building Facebook for the long haul, just as Jeff Bezos did with Amazon. Facebook, Zuckerberg says, cares more about its social mission than its business mission, and it uses its business as a way to fund its product.
This view, needless to say, is heresy on Wall Street.
But if Wall Street doesn’t like it, Wall Street can shove it.
Because Zuckerberg owns 57% of Facebook’s voting stock. It’s his company. Wall Street is just along for the ride.
In fact, Blodget argues that the country and economy would be better off if more CEOs behaved this way–if the religion known as “shareholder value” were broadened to include other kinds of value that great companies create (namely, societal value).
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