Photo: Julie Bort/Business Insider
Mark Zuckerberg was asked how the crashing Facebook stock has affected morale.His answer: “It doesn’t help.”
Then he added that Facebook’s employees are used to ups and downs. The company has had its share of controversy through the years.
As for people leaving because of a decline in stock price, Zuckerberg said the compensation for new and existing employees is still going to level out regardless of the current share price of the company.
Also, that isn’t actually why people join Facebook, he said. Instead, they are joining to change the world.
Zuckerberg was speaking at TechCrunch Disrupt. Our live coverage is available here.
Here are his full comments, lightly edited:
It doesn’t help. I think there are a few things that are important to keep in mind. Facebook has not been an uncontroversial company, this isn’t the first up-and-down we’ve had. People at Facebook are fairly used to the press and folks saying good things and bad things about us. We have a pretty good compass of what to build, I always make a point that when people are writing too nice things about us, to say we’re not as good.
The second thing is, what really motivates people at Facebook is building stuff they’re proud of. It’s really hard for people to wrap their heads around it, but what resonates with a lot of people is I’m building something that I’m gonna show my friends and family. I’m really proud of that. When we released apps… that’s not only the stuff that drives morale but it also drives a lot of recruiting. A lot of people come to us saying I want to work on that. The third thing is, we haven’t done anything on equity to incentivise people, sticking to the normal path is good. But people new to the company and people at the company, for compensation, we translate the amount of cash we want to give you into shares. If the shares are undervalued, you’re going to get more shares. The real question, sure, people are going to look at this and maybe some will leave, but really it’s a great time for people to join and for people to stay and double down.
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