Theglobe.com was a poster boy of the internet boom of the late 90’s; it was one of the earliest sites dedicated to what we know today as ‘social networking’. Now the website is defunct and what is left out of it is just a shell company. Even though, theglobe.com operated in a completely different era that that of Facebook Inc (NASDAQ:FB), perhaps Facebook Inc (NASDAQ:FB) can learn a thing or two from its success and debacle.
Stephan Paternot, Co-founder, Theglobe.com discussed his views on Facebook Inc (NASDAQ:FB) and Mark Zuckerberg’s leadership on CNBC.
“I have congratulated him [Mark Zuckerberg], every single time I have been invited on any segment. I even posted on his own Facebook wall the congratulations, but I also put up a warning that when you go public, you are going through an irreversible process. Which is that everyone will start judging you on a quarterly basis and it becomes harder and harder to really make long term bets and big bold moves,” Paternot said.
However, Paternot feels that Mark Zuckerberg has made some bold moves even after Facebook Inc (NASDAQ:FB) went public. He cited the acquisition of Oculus and the acquisition of WhatsApp as examples to prove that Mark Zuckerberg does not focus on the short term but is instead thinking about the future.
“He [Mark Zuckerberg] has completely validated, what we were trying to do in the late nineties. Which was proved that, the big revolution with the Internet is that now you could live online, you could have a social network online and that was the true transformation. It was person to person interaction and we made a dent but they really sort of busted through and changed it for everybody,” Paternot added.