“The Biggest Risk Is Not Taking Any Risk.”
From being an exceptional student with exemplary talent forecasting a promising future, to actually becoming one of the most successful entrepreneurs in history, Mark Zuckerberg has come a long way. Currently, Co-Founder of Meta platform inc (formerly named Facebook inc), one of the richest billionaires on Earth, Mark Zuckerberg also shares the title of Co-Founder of solar sail spacecraft development project Breakthrough Starshot and serves as one of its board members. But these titles don’t do justice to what influence he has over the population. Mark Zuckerberg has always proved to be an inspiration to millions when he became the world’s youngest self-made billionaire back in 2007. The success story of Mark Zuckerberg is worth sharing.
He had an exceptional academic record beginning at Ardsley High School in New York followed by a transfer into the private Phillips Exeter Academy along with a flourishing interest in subjects like Astronomy, Classical Studies, Mathematics, and Physics.
With a great college application consisting of being fluent in Ancient Greek, French, Hebrew and Latin, Zuckerberg attended the prestigious Harvard University, where he launched Facebook that later became a huge phenomenon. According to Zuckerberg, this idea of Facebook was inspired by his prep school where he had a student directory, “The Photo Address Book” to which students referred as “The Facebook”.
Gradually, Facebook started off as just a “Harvard thing” but later Mark decided to spread its reach to other schools.
FROM DORMITORY TO 500-MILLION-MARK
Launching Facebook from his Harvard University dormitory room, Zuckerberg along with his friends moved to California setting up their new office. During the growth of their business, they turned down multiple offers by major corporations to buy the company.
In an interview, Mark explained “It’s not because of the amount of money. For me and my colleagues, the most important thing is that we create an open information flow for people. Having media corporations owned by conglomerates is just not an attractive idea to me.”
And their small company eventually attained its glorious outcome. On July 21, 2010, Zuckerberg reported that the company reached the 500 million user mark.
Mark Zuckerberg says, “The biggest risk is not taking any risk… In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.”
It is not easy to manage multiple businesses and companies without a proper strategy. The way Mark Zuckerberg has handled his company to take it to great heights showcases that he surely has a brilliant management strategy. Mark Zuckerberg shared some tips from his management book.
Not chained to a desk
Zuckerberg has said he doesn’t spend more than 50 to 60 hours a week in the office. However, he spends a lot of time thinking about new ideas.
Focus on the mission
Zuckerberg believes in turning values into a business and focusing on bringing the change one wants to see.
Eliminate small decisions
He believes that making a bunch of small decisions throughout the day can take up too much energy. He says, “I really want to clear my life so that I have to make as few decisions as possible, other than how to best serve this community.”
More action less reaction
He once said, there are enough things that come up during the day that one can use to fill up their entire day reacting to them. Of course, one has to be responsive, but it’s important to know what one wants to accomplish each day.
It is a part of his office that his employees are open to correct his mistakes.“I like openness. It’s a little embarrassing, but it’s good to have.”
TAKEOVER OF INSTAGRAM
In 2012, Facebook bought Instagram for $1 billion, a shocking sum at that time for a company with 13 employees. Contributing up to $20 billion to Facebook’s annual revenue, Instagram currently has over one billion users.
Facebook saw Instagram as a threat that could potentially scrap business away from Facebook. So avoiding the anticipated competition, Facebook bought it.
Around late February 2012, Zuckerberg emailed his Chief Financial Officer to set movement on the idea of buying smaller companies that could be future competitors including Instagram. Instagram was widely famous in Silicon Valley and Twitter was interested in buying the company but Instagram Co-Founder Kevin Systrom declined the offer and Facebook proposed its offer to acquire the company and its 13 employees. The deal to acquire the application was closed at $1 billion in cash and stock.
The billionaire announced on October 28, 2021 that his company will now be known as Meta Platforms. The new platform comprises apps and technologies under one new brand. However, it does not change anything for Instagram or Whatsapp users.
While announcing the new brand, Zuckerberg said, “Today we are seen as a social media company, but in our DNA we are a company that builds technology to connect people, and the metaverse is the next frontier just like social networking was when we got started.”
“Our apps and their brands aren’t changing either. We’re still the company that designs technology around people.”
Zuckerberg wants Facebook to be known as a technology company and not only as a social media company. He also revealed his future plans of including crypto and NFT on its platform without compromising the privacy of the users.
Born in White Plains, New York, Mark Zuckerberg was raised in a Jewish household along with his three sisters and his parents. Both of his parents belonged to Medical backgrounds with his father being a Dentist and his mother being a Psychiatrist. As his grandparents were Jewish immigrants from Austria, Germany, and Poland, growing up he had Jewish values thoroughly instilled in him. For a while, he went on declaring himself as an atheist but subsequently revised his values.
Other than turning his life around during his college period by introducing Facebook, he had a vital addition to his life that later flourished. He met his future wife Priscilla Chan who was a student at Harvard University along with him. They started dating in 2003. After dating for nearly a decade they got married in 2012 along with the celebration of Chan’s graduation from her medical school. After going through three miscarriages the couple finally had their first daughter on December 1, 2015. Later on, they had another addition of a second daughter to their family in August 2017.
NET WORTH OF MARK ZUCKERBERG
Zuckerberg, being the 37-year-old Founder and CEO of Facebook, has a net worth of $67.5 billion making him the 19th richest billionaire in the world.
In February 2022, Mark lost $29 billion in net worth as the stock of the company witnessed a record decline of 26 per cent, which has eroded almost $200 billion.
Despite being one of the richest billionaires in the world, he leads a low-key lifestyle with his wife Priscilla Chan and their two young daughters. When it comes to cars, he prefers relatively expensive cars. He seems to spend most of his money on real estate. He owns property in Palo Alto, San Francisco, Hawaii, and Lake Tahoe.
Zuckerberg and Priscilla are currently spending $3 billion in an attempt to end, cure or manage all diseases by 2100.
TO SUM IT UP
Mark Zuckerberg is a man whose achievements are not only his accomplishments but of the whole generation.
His casual idea of connecting social people that started merely on a small scale has now transformed into the biggest social platform all over the world that connects billions of people no matter how much the distance is, what the time is, or how you lost contact with your once loved acquaintances. Facebook gentrified the modes of communications in the best way possible and people owe Mark Zuckerberg highly for this modification.