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Questions loom for Zuckerberg in 1st post-IPO chat
Question of the Day
NEW YORK (AP) - One question will surely be hanging over the head of Facebook CEO Mark Zuckerberg on Tuesday when he gives his first interview since the company’s rocky initial public offering in May.
Zuckerberg will appear in a “fireside chat” at the San Francisco Disrupt conference organized by technology blog TechCrunch. Zuckerberg is scheduled to appear from 5 p.m. to 5:25 p.m. Eastern time. He’ll be talking to Michael Arrington, the fiery founder of TechCrunch. Arrington, who no longer works at TechCrunch, is not known for mincing his words. He once called Arianna Huffington, who became his boss after AOL bought his blog, “a very touchy psychopath.”
However, Pachter added that “if he is asked about the stock and the IPO and he doesn’t come clean and say `here is what we did wrong’ and here is how he’s going to fix it,” then Zuckerberg is “not ready for prime time.”
Zuckerberg likes to bring up Facebook’s core mission _ making the world more “open and connected” _ when he talks about the company. That’s a start. But he’ll have to do more than rehash sound-bites to impress investors. They are curious about how that mission makes Facebook a lasting business and how the company, created in 2004 with desktop computers and the World Wide Web in mind, will become a true mobile-first pioneer.
_How will the company attract and keep its most talented employees with its stock price falling?
_Does Zuckerberg have what it takes to be the CEO of a public company?
_Since Facebook won’t be able to buy every new Instagram that comes along, how will it stay ahead of younger competitors?
Going forward, “Facebook must find the right balance of information sharing that will enable it to deliver favorable ad targeting, but not antagonize users or legislators who desire greater levels of privacy,” said Morgan Stanley analyst Scot Devitt in a recent note to investors.
Arrington likes to ask CEOs to define their company. In May 2010, he asked then-Yahoo CEO Carol Bartz, “What is Yahoo?” Bartz, it turns out, could not give a satisfactory answer. She was fired from Yahoo a year later for failing to revive the ailing company.
Zuckerberg is in no danger of being fired. After all, he controls more than half of the voting stock in Facebook and has a loyal employee base at the company. But there have been calls on Wall Street to replace him with someone more experienced, including Chief Operating Officer Sheryl Sandberg.
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