Zuckerberg: Betting On HTML5 Was Facebook's Biggest Mistake 290
An anonymous reader writes "Speaking yesterday at TechCrunch Disrupt, Facebook CEO Mark Zuckerberg acknowledged that the company's stock performance was disappointing. He also made an interesting remark about Facebook's development efforts over the past couple of years: 'The biggest mistake we made as a company was betting too much on HTML5 as opposed to native. It just wasn't ready.' According to Mashable, 'the benefits of cross-platform development weren't enough to outweigh the downsides of HTML5, which pulls in data much more slowly than native code, and is much less stable. ... Now, Zuckerberg says, Facebook is focused on continuing to improve the native mobile experience on iOS, as well as bringing a native app to Android.'"
Correction... (Score:3, Interesting)
Re:Correction... (Score:5, Interesting)
Company-wise, their IPO certainly was a bigger mistake than using HTML5 in iOS.
The IPO was inevitable and unavoidable. It was a bad idea, but it was inevitable and unavoidable.
First, Facebook had already taken more than a billion dollars from investors, including half a billion from Goldman-Sachs alone. So that means that an IPO (aka pump and dump) was inevitable.
Second, Facebook is the new MySpace and everyone knows it. An IPO (aka pump and dump) is the fastest way to cash in on the latest fad before the bubble pops.
Re:Correction... (Score:5, Interesting)
Zuckerberg meant: The IPO Was Facebook's Biggest Mistake.
There, fixed that for him.
You meant: The IPO Was Investors Biggest Mistake.
There, fixed that for you.
You meant: The IPO Was The Biggest Mistake of Speculators Trying to Get Rich Quick Off an IPO Pop.
The investors who actually SOLD shares on the IPO made out like bandits.
Re:Correction... (Score:5, Interesting)
Zuck holds 57% of the "voting" stock and specifically told everyone in the IPO prospectus that he wasn't going to listen to them. Nobody has the ability to oust him and he isn't leaving on his own. The guy knows what he's doing.
I knew what he was doing, too, which is why I didn't buy any shares, and will continue to not buy shares until they're at around $10.
Re:Correction... (Score:4, Interesting)
Zuck holds 57% of the "voting" stock and specifically told everyone in the IPO prospectus that he wasn't going to listen to them. Nobody has the ability to oust him and he isn't leaving on his own. The guy knows what he's doing.
He got married.
I wouldn't be surprised if Priscilla divorces him after a few years, and sells the shares she got out of it. Unless he has a iron clad prenup, that will lose him his control.
Re:Correction... (Score:5, Interesting)
Apple most certainly is a "bubble"... It's not going to burst though, its going to be a "slow" leak back into mediocrity. One of the reasons Apple is so involved in lawsuits is they see the writing on the wall. History repeats itself. (see the 80's and Apple vs PC's). Their "profits" are based off the insane prices they charge. They can charge that much because of the "perception" by the public that Apple products are that much better.
The gap between iphone and the others (android,windows) is MUCH smaller then 2 years ago. There's still a perception of a much larger gap then really exists and that is being propped up isheeple AND the wireless carriers. That is what is keeping Apple's dominance "a float" right now. Carriers are so desperate for the "iPhone" that they are eating the insane premium Apple charges themselves, making it seem as though the iphone is comparable. That is changing though. In a year or so the price of a iphone compared to a Android of the same quality is going to double/triple. Once "Consumers" start seeing they'll have to pay 500 for a iphone of 150 for a Android that works as well or better... Repeat the PC market, Apple will slip back into being a niche company...
Re:Correction... (Score:5, Interesting)
"The guy knows what he's doing".
LOLOLOLOLOLOLOL!!!!
If he knew what he was doing, he wouldn't still be about a sinking ship.
Let's see.. The guy made billions on the deal, and simultaneously kept control of his company. You somehow have a superior knowledge on the subject and know better. How exactly does that work? If anyone didn't know what they were doing it would be the investors who bought the overpriced shares. Zuckerberg, on the other hand can laugh all the way to the bank - or wherever else he might want to go. Because that's the sort of thing you can do when you're a multi billionaire. Cocksucker might be a good description if you ask the other shareholders, but I don't think the incompetence you're pretending he has is really there.
A company is only as good as its employees, and having demotivated employees is not good for any company. If the employees are underwater on their stock for the forseeable future, it's going to be hard to keep them motivated. It's also going to drive up labor costs since they'll have to start paying out bonuses to keep employees happy as well as hire replacements for those that quit. Higher operating costs mean there's even more pressure to bring in more revenue.
Zuckerberg is set for life, there's no doubt. Facebook as a company is ok for now,but I'm betting it will eventually go the way of Myspace. If Google put some marketing dollars behind Google Plus they might have a chance to take some serious marketshare from FB -- and not just online marketing, they need to reach a broader audience. Many non-geeks still haven't even heard of it.
i call BS (Score:5, Interesting)
HTML5, which pulls in data much more slowly than native code
How can this be? HTML5 is not relegated to some throttled network interface. the data all comes through the same pipe. I've made plenty of html5 implementations that had small streamlined exchanges of data with the server. My observations indicate that the facebook apps just pull in obscene amounts of unoptimized crap.
Well, since it's facebook data, i guess no implementation can get around the fact that you are pulling down crap.
Re:I don't give a Zuck! (Score:5, Interesting)
HTML5 is the poster-child for designed-by-committee, slow-as-molasses processes that are out-paced by everyone else because, in the real world, things actually need to get done this decade, and the rest of us can't wait.
HTML5 was compromise of existing implementations and small improvements, adopted because the XHTML standards were being ignored. Your rant is misdirected: HTML5 is a solution to the lack of standards progress, not a cause of it.
http://en.wikipedia.org/wiki/HTML5#History [wikipedia.org]
Really? (Score:3, Interesting)
Really? Betting on HTML5 was Facebook's biggest mistake? You sure about that?