Introduction
Mark Zuckerberg is a household name, and a symbol for the fast pace of change and invention of the 21st century. Despite his celebrity status and incredible success, Mark Zuckerberg is only 34 years old, yet is widely regarded as one of the most influential people on the planet. His story of fast paced success is the perfect post-modern American dream. From humble beginnings as a college student at Harvard, Zuckerberg has gone on to become one of the richest and most successful entrepreneurs in the world. However, one of the key elements in his success story is the point in time when he chose to drop out from Harvard.
Why Did He Drop Out?
In the spring of 2004, Zuckerberg launched a social media website, ‘the facebook’, while studying at Harvard. The motivation and inspiration to launch the website can be traced back to his early success in computer programming and business leading back to his first software development, Synapse Media Player. In the early days of ‘the facebook’, Zuckerberg and his team had to continuously develop and improve the site to keep up with the demand as the user base of users skyrocketed. With demand, growth and development taking all of his time, there seemed to be no room to continue studying. Hence, Zuckerberg had to make the decision to either choose either his studies or his company.
The Decision
The decision was by no means an easy one for Mark to make. Despite the large number of users and high demands, Mark still needed the financial backing and business experience to manage the rapid growth of his website. To this end, Zuckerberg sought angel investors and venture capitalist. His idea and concept was met by great enthusiasm and the financial backing needed to launch and secure the future of ‘the facebook’. For this reason, and after taking into account the advice of those around him, he decided to take the plunge and drop out from Harvard.
Timing Was Key
The timing of the decision to drop out was crucial to Zuckerberg’s success. He chose the optimal moment to quit his studies and reap the rewards of the business venture. Had he not made the decision when he did, the outcome could have been much different. If the financial backing had not materialised then Mark and his team could have quickly become overwhelmed and the success of ‘the facebook’ could have been jeopardised.
The Alternatives
Having the financial and business support to continue the development of ‘the facebook’ meant that there were no other paths that Zuckerberg could take that would have achieved the same outcome. Quitting his studies offered the best return of his efforts and the fastest path to success. Focusing purely on the venture without being bogged down by the competing demands of school work appeared to be the only way to achieve the scaling and growth of his site.
The Aftermath Of The Decision
The decision to drop out of Harvard served as a turning point in Zuckerberg’s success story. His decision provided the leverage that his venture needed to scale the business quickly. By the end of 2004, ‘the facebook’ had an estimated collegiate userbase of 1 million members. Rather than attending lectures at Harvard, Mark was busy dealing with business decisions and investments from venture capitalists as well as occasional legal issues in regards to intellectual property of the website.
Mark’s Attitude Towards Education
Despite having to drop out from Harvard, Mark remains committed to education and its value. As an alumni of Harvard, Mark has shown great loyalty to his alma-mater and has donated financially to various causes related to education. He sees returning to education as an aspirational goal rather than a requirement and has voiced this in media interviews.
The Future Of The Facebook
Since its inception, ‘the facebook’ has grown to become the largest social media site in the world with over 2 billion active users across all platforms. It has become a key element in the interconnectedness of our world. Zuckerberg has ambitious plans for the future of the website in terms of scope, innovation and technology. The journey of success continues, and only time will tell the impacts of ‘the facebook’ in the 21st century.
The Global Impact
The reach of ‘the facebook’ is far reaching and has been influential globally in terms of a platform for global discussion, education and collaboration. It has become a key tool used by people from all backgrounds to share and voice their opinion on various topics. It has also raised awareness of important global issues such as climate change and human rights abuses.
Business Opportunities
The success of ‘the facebook’ has shown the potential of social media in creating a bridge for communication and a medium for business opportunities. Businesses and entrepreneurs have seized the opportunity to utilise the site to reach potential customers and market their products and services. This is an area where the site continues to innovate to better serve the market.
