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Thursday, January 31, 2013

Why Mark Zuckerberg will never be exiled from Facebook like Steve Jobs was exiled from Apple

Facebook is entirely Zuckerberg’s. Or, rather, because there are two classes of shares, Zuckerberg controls 57 percent of the votes. That’s all the votes you need. And any time any non-Zuckerberg owner of class B sells shares (and why not sell, since Zuckerberg controls the whole firm anyway) they convert to class A status and Zuckerberg controls the company even more firmly. What’s more, at the time of the IPO Zuckerberg stated his intention to avail himself of the company’s status as a controlled entity to eschew any independent participation in the selection of directors. In other words, it’s his company from top to bottom, and anyone else who owns shares is just a silent partner.
Mark Zuckerberg Doesn’t Care About Your Petty Shareholder Value
Thursday, October 6, 2011
Where Steve Jobs Ranks Among the Greats

When Steve Jobs and Steve Wozniak co-founded Apple in 1976, they set to work building a line of computers—culminating in the Macintosh—that would be the most intuitive machines of their kind. In a way, they introduced the middling people to the magic of digital processors the way Henry Ford introduced them to cars. The brash young Jobs left Apple in 1985, after a spat with the board over the company‚Äôs direction. By his own later admission, he needed a strong dose of perspective.

Jobs did other things for 12 years, until returning to Apple as CEO in 1997. The company was floundering, after a string of misfires. Jobs straightened things out, then brought Apple to new heights with wonders like the iPod, iPhone and iPad, along with services like iTunes and Apple TV meant to complement the elegant devices. By the time Jobs retired as CEO earlier this year, Apple was more valuable than virtually any other technology company in the world, including Google, IBM and Microsoft.