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Even Facebook and Zynga remain on hiring sprees.

Facebook still plans to transform its Menlo Park headquarters into the equivalent of a small town that is supposed to eventually house 6,000 workers. The social networking leader has hired famed architect Frank Gehry to design a 420,000-square-foot warehouse that will feature a garden growing across its roof. Plans also call for a town square featuring restaurants, a bike shop and health clinic.

Levie moved Box from Seattle several years ago because he believed his company had to be in Silicon Valley to succeed. Box now employs about 500 workers and raised $125 million this summer. Levie is just 27, a few months younger than Facebook founder Mark Zuckerberg, who turned 28 the week his company went public in May.

Echoing an oft-repeated Silicon Valley ethos, Levie says startups are much more focused on their long-term prospects than their performance from one quarter to the next.

Wall Street, though, isn’t known for its patience. Investors’ fixation on short-term results has left Facebook’s stock trading at about half of its initial public offering price, while Zynga’s stock has lost more than two-thirds of its value.

Driven by the hype leading up to its IPO, Facebook Inc. opened with a stock price of $38 and a market value of $104 billion. Less than four months later, share prices have lost half their value.

Investors have been unhappy that Facebook’s revenue growth is slowing, seen as a sign the company won’t be able to make as much money as more people use Facebook on mobile devices, where there is less room to show ads. The worries have hammered Facebook’s stock, even though many analysts still see the company as a solid long-term investment.

“The challenge of the public markets is that it has the ability to create a lot of these near-term distractions if you start paying attention to the day-to-day stock price changes,” Levie says. “A lot of those day-to-day changes have no bearing or relevance on the ultimate opportunity for your business.”

Facebook has consistently declined to talk about its stock price. But CFO David Ebersman told analysts in July that “obviously we’re disappointed about how the stock has traded.”

“But I think the important thing for us is to stay focused on the fact that we’re the same company now as we were before,” he added.

Zuckerberg will get a chance to muse about Facebook’s fall on Tuesday when he is scheduled to speak at a technology conference in San Francisco.

Zynga Inc., the maker of “FarmVille,” “Mafia Wars” and other games that first became popular on Facebook, appears to face more uncertainty.

The San Francisco company is losing money and players while facing stiff competition as more games are played on mobile devices instead of personal computers. CEO Mark Pincus insists the company will rebound, though many analysts consider Zynga hopelessly adrift. Zynga’s shares are now hovering around $3, down from a peak of nearly $16 in early March.

Nonetheless, there are nothing but good vibes emanating from many other technology companies in Silicon Valley and San Francisco.

Even as Zynga employees watch the value of their stock options deflate, the 65 or so workers at Pinterest are settling in to the online scrapbooking service’s new San Francisco headquarters just a block away. Around the same time Facebook went public, Pinterest raised $100 million from investors who valued the company at $1.5 billion, according to several media reports.

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