Facebook’s stock sank to a new low today, and is now trading at around $22.This has to be painful to watch for current Facebook employees, who have a lot of wealth tied to the company, but most of them aren’t talking about it.
Luckily, a former Facebook employee who also appears to own a lot of Facebook stock has opened up on Quora as to what it feels like.
As you might expect, the feeling is a mix of frustration with Wall Street investors who don’t understand Facebook’s long-term strategy and a state of calm given that there’s not a whole lot you can do about it.
Here’s his full response:
I’m an ex-employee, and I can’t speak for what an employee would be feeling, so this isn’t really the answer you’re looking for. But, just for fun, these are the emotions I’ve been feeling the most these first couple months since the IPO. I imagine some of this might resonate with a current employee.
- Frustration with the market. Facebook has always had a long-term focus, and nothing that would significantly influence its long-term success has materially changed in the past 6-12 months. Some adjustment to the stock price was necessary and expected after the IPO hype and handling. But the level of price volatility makes no sense given the company’s long-standing strategy and what has actually happened on the ground and in the overall media landscape. It would be nice if people just chilled out and watched for a year instead of a quarter (or a week or a day), or would at least take a moment to understand how the company works before buying its stock.
- Optimism. I feel pretty confident that the early thrash around Facebook stock will ultimately be meaningless in the long run. Facebook’s still has the right strategy, a lot of talented people, a buttload of money, a hell of a lot of users, a ubiquitously engaging product, and just about all the resources it needs to develop an enormously profitable business. I feel good about what Facebook is going to do over the next five years and beyond.
- Serenity. As one would expect, a lot of my personal wealth is tied up in Facebook. Ultimately, this is a blessing that I never could’ve imagined when I started working there. I can’t control what happens with the stock price, especially since I don’t work there anymore (though even if I did, I can’t imagine I’d feel that much more empowered). I don’t have much manoeuvrability until the ex-employee lockout lifts, so I’m along for the ride however it plays out.