Origin of Facebook
It all started with the idea of Harvard freshman, Mark Zuckerberg. In his dorm room, Zuckerberg had been experimenting with the idea of a “social network”[1], eventually coming up with the idea of Facebook and starting the first version of the website on February 4, 2004.[2] Zuckerberg had been working on Harvard Connection (later to be called ConnectU) with roommates Dustin Moskovitz and Chris Hughes, while fellow Harvard student and future Yahoo! CEO Marissa Mayer refused to comment on the project out of respect to all parties involved.[3] However, Zuckerberg was able to come up with a prototype of Facebook and file the necessary paperwork with the State of Massachusetts that same month.[4]
Initially, Facebook was launched as a “Thefacebook”, a social networking site for Harvard students only. It quickly expanded to other top universities, other schools, and eventually, anyone over the age of 13. It became a way to express yourself, share pictures and information, build and communicate with one another, and eventually create groups and pages.
Growth and Popularity of Facebook
Facebook’s meteoric rise to become the world’s most popular social network can be largely attributed to a few key factors. First and foremost, Zuckerberg created a really great product that offered users an easy way to stay in touch with their friends and family. Facebook allowed users simple ways to stay in touch, similar to texting and instant messaging, while also allowing them to be creative and express themselves through profile pictures, posts, and status updates. In addition, Facebook was also different from other social networks because of the way it handled users’ personal information. Zuckerberg believed that users should have complete control of their data, giving the option to make their information private or public. These features, combined with the fact that Facebook was free, have contributed greatly to its success.[5]
Facebook began to receive major funding from venture capitalists which enabled the company to grow rapidly. In 2005, Microsoft invested $240 million in return for a 1.6% stake in the company. Accel Partners then invested $12.7 million in April 2006. By September 2006, Facebook had become the world’s most popular social network, with over seven million active users (up from one million in August 2005).[6] This growth continued as Facebook took off around the world and by 2009 had become a cultural phenomenon with over 200 million users.
Mark Zuckerberg and Leadership Style within Facebook
It is evident that Mark Zuckerberg has strong leadership qualities and understanding how Zuckerberg formed and continues to lead his team shines some light on why the code of Facebook has been so successful. It was reported that Zuckerberg’s “style of managing is to empower individual engineers and product teams to innovate without constraints, so long as user metrics remain solid”[7].He focused on scaling his team to make sure that everyone’s efforts moved in harmony, so that in real time changes can be made in the code, this enabled the product to develop quickly and release fixes if needed instantly. This was an incredible structure, which was arguably a key factor in innovation and success of product. Additionally, the team at Facebook was made up of people who not only had expertise and experience in coding but also shared a similar vision, this allowed the teams to share their ideas and feedback to each other and event drove team bonding. Allowing the product to move forward in the right direction.
It was also reported that Zuckerberg’s major focus being “hiring the top engineers in the industry and creating a culture in which they could perform at their optimum level” [8]. This is a testament to Zuckerberg’s understanding of his team and how it could ensure the product could move forward through innovation, feedback and hosting suitable coding environment. In summary, without Zuckerberg at the helm, it is unlikely that the code that was released would have been as successful, as it was a combination of understanding of coding, people management and a drive for success.
Criticism and Cost of Facebook
Facebook has been criticized for a variety of reasons, ranging from its privacy policies, its acquisition of user data, its questionable advertising practices, and its dominance of the online social media landscape. In March 2018, Facebook was criticized for allowing Cambridge Analytica, a political consulting firm and data mining firm, to access user data without permission to use it for voter targeting and manipulation.[9] Facebook has also been criticized for its handling of data on its platform, allowing third-party companies to access and store the information while the users are left unaware of what is happening to their data.[10] The company has also been accused of favoring certain interests over others in terms of marketing and advertising, as well as of exploiting users’ data and feelings in order to generate revenue.
The Future of Facebook
Facebook has changed the way people communicate and interact on the internet and it has become a part of people’s lives. It has become the world’s largest online social network and continues to grow every day. Despite the criticism, Facebook continues to expand and innovate, introducing new features and services every year. It has become an integral part of many people’s lives and it will continue to shape society for years to come.
Impact of Facebook
In recent years, the impact of Facebook on individuals, businesses and organizations has become increasingly evident. Facebook provides a platform that allows users to stay connected and informed, thus expanding the reach of businesses, organizations and individuals. Facebook has allowed organizations and businesses to engage with their target audience in a way that was never possible before, and it has enabled individuals to stay connected with their friends and family around the world. It has also been used to spread awareness and to help raise funds for charities and other causes.
Conclusion of Mark Zuckerberg and Facebook
Mark Zuckerberg and his team have built an incredible platform that has touched the lives of millions of people around the world. In a relatively short period of time, the company has grown to become one of the most important companies in the world. Despite the controversy surrounding Facebook, it has been able to grow and continues to be a powerful and influential force in the world.
