Tag Archive: NASDAQ: FB


(Almost DailyBrett Note: The following is the text of my Facebook message in which I had the privilege of spending $100 to send it directly into the inbox of Facebook Chairman and Chief Executive Officer Mark Elliot Zuckerberg).

Dear Mr. Zuckerberg:

Your company’s gracious offer, bestowing upon me (and other mere mortals) the privilege of spending $100 to send a Facebook message to your personal in-box, left me in a serious quandary.

On one hand for the same $100 I could conceivably purchase three shares of Facebook stock for $31.79 a share, leaving me with $4.63 to cover a Grande mocha with no whip cream from Starbucks. The obvious value for me would be three shares of your overhyped and underperforming stock, well below the $38 IPO price, in addition to 330 calories to my waist line.

Or I could spend the same amount with no guarantee that you would actually condescend to read my message, but maybe you will.

zuckerberg

This choice reminds me of Monte Hall’s “Let’s Make a Deal” (e.g., a popular television game show that was way before your time). The three shares of NASDAQ: FB and one mocha would constitute the equivalent of a Volkswagen bug sitting on the stage. My $100 to send a message to you would be the equivalent of the “door.” There may be a brand new Lincoln Town Car behind that door or maybe a donkey.

Okay I will go against a bird in the hand is worth more than two in the bush admonition, and I will spend $100 to help FB’s top and bottom lines by sending a message directly to your inbox.

As other commentators have noted, one can send a similar message to the President of the United States or the Prime Minister of the United Kingdom for free, but you (and your crack public relations pros) are deigning to permit the riff-raff to spend $100 (each time) to send a message that will actually pass under your hoodie shrouded eyeballs. I have never felt so special.

My first question: Can you give me an exclusive preview of your mysterious (“Come See What We’re Building”) software or hardware announcement this coming Tuesday? After all, I just paid you three figures…

Oh…You can’t do that. Something about selective disclosure of material information, which would get us both in trouble with the almighty Securities Exchange Commission (SEC). Never mind. For your sake, I hope this announcement lives up to the hype.

Another question: Would you consider taking my $100 and heading down to Brooks Brothers (there is one in Santana Row in San Jose and another near Union Square in San Francisco) and actually dress the part of a CEO, particularly when you are trying to raise money from investors?

What’s that? You say that Steve Jobs was able to dazzle the world in a black turtleneck, so why shouldn’t you be able to do the same in a hoodie?

Can I submit to you that Steve had a long-standing track record of success at Apple (e.g., Mac, iPod, iPhone, iPad) that slightly exceeds your success at Facebook?  Yes, I know how proud you are of Facebook’s market valuation of $68 billion. Can you even imagine how proud they are at Apple with a $489 billion market cap?

My point is that Steve Jobs earned the right to wear the turtleneck. I don’t see that you have earned a similar level of achievement to adopt the same cavalier attitude toward your stakeholders…that would include little ole me.

What really confounds me is that seemingly no one from your public relations team objected to the idea of charging Facebook subscribers $100 just to write to you. Let’s see your company reported $4.3 billion in annual revenues. Facebook recorded $714 million in net income. And you are personally worth in the neighborhood of $9.4 billion with a “b” and still you want to charge your customers $100 just to send you a line?

Facebook started with the cool idea of connecting people to their friends online. You have 1 billion subscribers or one-out-of-every-seven people on the frickin’ planet. Is it cool or arrogant to charge someone three figures just for the privilege of writing to you? I will leave that to you to decide.

P.S. My check is in the mail…

http://www.cnbc.com/id/100372793

http://www.esquire.com/blogs/culture/the-cost-of-contacting-mark-zuckerberg-steve-jobs-14966751

http://www.pcworld.com/article/2025158/facebook-lets-some-people-email-mark-zuckerberg-for-100.html

http://tvgrapevine.com/articles.html/_/misc/media/facebook-stunned-and-amazed-by-mark-zuckerberg-r2380

http://www.itechpost.com/articles/4910/20130112/facebook-charging-100-send-message-mark-zuckerberg-here-official-clarification.htm

http://video.cnbc.com/gallery/?video=3000140473&play=1

http://en.wikipedia.org/wiki/Mark_Zuckerberg

http://data.cnbc.com/quotes/FB

One team is winning and the other is losing.

The respective IPO dates of two rival social media platforms are only separated by one year and one day, but the reception by Wall Street investors could not have been more different.

As a result I completely unfriended Facebook today, selling my remaining shares of “FB,” while maintaining and considering adding to my position in LinkedIn. The LinkedIn connection has been slightly lucrative, thank you very much.

According to the Wall Street analysts, the heavy sell off in Facebook is attributable to the company not presenting a convincing argument during Thursday’s conference call on how it well monetize mobile platforms. Closer to the heart of the matter: Facebook is not providing guidance to investors going forward, making it difficult for buy-and-sell side analysts to build their financial models.

From this humble perspective, it seems something more basic is coming into play: Schadenfreude.

There are a growing number of people, who resent Mark Zuckerberg, his hoodie, the “Social Network” and his billions. Can we simply chalk it all up to old-fashioned jealousy of those who achieve? As the leader of the free world recently said, “You didn’t build that.” Au contraire.

zuckerberghoodie

As many of us know, it all started in Harvard’s Suite H-33, Kirkland House (Isn’t Harvard private? Do the public roads leading up to the campus negate all student and faculty accomplishments?). Zuckerberg is an entrepreneur with a dream that succeeded beyond his fondest dreams as 900 million subscribe to Facebook. And with this success came private equity, in fact too much private equity. Zuckerberg was essentially forced by SEC rules to go public. It may have been the world’s first kicking-and-screaming IPO.

During the investor tour leading up to Facebook’s May 18 (NASDAQ: FB) public offering, there were complaints that Zuckerberg sported his trademark hoodie rather than standard-issue Brooks Brothers suit with the Thomas Pink shirt and cuff links. Has this man no decency?

And just yesterday Maria Bartiromo and the other talking heads on CNBC were conjecturing whether Zuckerberg would even show up for his company’s first-ever investor conference call. Maybe analyst calls are not cool enough for the 29-year-old founder and chief executive of the world’s largest social media platform. Zuckerberg showed up, but the stock still closed today at $23.70, miles below its $38 IPO price. One analyst has set an 18-month $40 price target. I will hold off in placing an order.

Contrast the disastrous performance of the Facebook IPO with a similar public offering a year earlier by LinkedIn. The latter came with virtually no investor frenzy, but the results are impressive.

LinkedIn (NYSE: LNKD) went public on May 19, 2011, debuting at $45, quickly jumping to $85 and closing today at $103.42. Not bad.

One key differentiator between LinkedIn and Facebook is the former is targeted almost exclusively toward business. Need to find a job? Open and populate a LinkedIn profile. Be sure to include the details of your resume (curriculum vitae), your academic background, your recommendations, your PowerPoints, your blog and even your mug shot. This URL is one-stop shopping for recruiters.

linkedin

Want to research a recruiter, a hiring manager, a business partner, a customer, just simply head to the LinkedIn search engine. In a few key strokes, you know where she or he went to college; how long she or he has held the present position and where she or he has been before. This site is a great way to do your homework and to be prepared.

Another key differentiator is your “connections,” their connections and the connections of their connections. Who do you know? How important are your connections? What do your connections say about your readiness for a job, particularly a rain-making position that benefits from a deep roll-a-dex?

Almost DailyBrett opines that “connections” are more important in the eyes of Wall Street than “friends” and “likes.” Sure, Zuckerberg has access to the living patterns of almost one-seventh of the planet and $50 billion in market capitalization. LinkedIn only has a mere 161 million subscribers and only $10 billion in market cap…and yet Wall Street better understands the LinkedIn business model. Facebook in contrast offers friends and FUD (Fear Uncertainty and Doubt).

Most of all there is no uncertainty whether LinkedIn co-founder Reid Hoffman will participate in his company’s conference calls. Thumbs up.

http://finance.yahoo.com/news/does-wall-street-hate-facebook-192938528.html

http://online.wsj.com/article/SB10000872396390443931404577551344018773450.html

An electronic job application for a privately held, big media marketing firm offers candidates a choice: Upload a soft copy of your resume or your LinkedIn profile.

Is this a choice or a trap?

linkedinleftbehind

The candidate has to choose one or the other (assuming she or he has both a CV and a LinkedIn profile). Certainly one can opt to upload a resume and copy-and-paste a cover letter, but what signal does that send? Did we ever have to consider potentially sending a potentially fatal technology laggard message by simply submitting a cover letter and resume?

If the candidate elects to offer her or his LinkedIn URL in lieu of a resume (and copy-and-paste an obligatory cover letter), is she or he telling this future employer that she or he gets it when it comes social media? Weighing the realistic potential of a trap, I would advise job candidates to submit their LinkedIn URL and carefully crafted and edited cover letters.

You may be thinking that I am being slightly (or even more) paranoid, but let’s face it: The job market is a minefield particularly in this long-time distressed economy.

Does this mean that resumes will soon become so 20th Century? We shouldn’t be so quick to throw dirt on resumes, but their usefulness is obviously being challenged by the agility and completeness of LinkedIn.

In some respects, resumes or curriculum vitae (CV) are the equivalent of name, rank and serial number. They chronicle your career, and if you are wise you will quantify your accomplishments to help the hiring manager make the critical interview or no-interview decision. A cover letter encourages the reading of the resume. The resume encourages or discourages an interview. Interviews are either path-ways to the employment promised land or a one-way ticket back to square one.

resume1

LinkedIn URLs accomplish the basic task of the resume (chronology of career, academic degrees, awards, memberships etc.), but they do more…so much more. First, submitting your LinkedIn URL implicitly demonstrates that you get it (or at least you are on your way to getting it) when it comes to social media. A potential employer can review the number and the quality of your LinkedIn “connections” to determine the company you keep, who knows you and vice versa.

The same point also applies to your LinkedIn groups that you have joined. I am a member of 24 groups, including a wide variety of public relations and communications professional groups, and those from my present and past employers. These groups are another way of demonstrating your “online presence” as emphasized by professional branding guru, Dan Schawbel. His recent Forbes article predicted that social media will replace resumes within 10 years. He may be conservative.

In addition, your LinkedIn profile not only lists who recommended you but allows hiring managers to immediately read your praises from former superiors, colleagues and most important of all, your subordinates. Examples of your PowerPoint or Prezi presentations can be uploaded to LinkedIn, giving employers’ insights into your presentation skills, design capabilities and thought processes. Try doing that with a resume.

A huge feature for me is the automatic posting and updating of my Almost DailyBrett blogs from WordPress to LinkedIn. An employer doesn’t have to surf WordPress to read Almost DailyBrett, particularly those posts that directly apply to the practice and teaching of communications choreography.

Some may be tempted to play down LinkedIn and its reported 150 million users in comparison to Facebook with its 901 million users or Twitter with its 500 million users. The difference is that LinkedIn is focused on attracting commerce and building professional networks. LinkedIn is a quality play, not a quantity play.

Wall Street seems to be noticing the difference in business models as LinkedIn (NYSE: LNKD) was initially priced at $45, immediately jumped to $85 on its IPO date and has been holding north of the three-figure mark, today finishing at $103.84. Despite all the springtime histrionics, Facebook (NASDAQ: FB) was offered at a $38 IPO price, rose slightly and immediately plunged. Today at close of market it stands at $28.09 per share.

Maybe one of points that is becoming clear to users, employers, potential employees, investors, analysts, media and others is that LinkedIn (and potential direct competitors/successors) is changing the way that candidates are identified and hired. At the same time, LinkedIn may be shoving the resume/CV into the back seat or may even be taking the wheel.

Is it time to sing LinkedIn über Alles? It could be; it very well could be.

Almost DailyBrett note: The writer of this blog post is a subscriber to LinkedIn, WordPress, Facebook, Twitter and Pinterest. More to the point, the blog writer owns a low double-digit quantity of LinkedIn shares and a low triple-digit quantity of Facebook shares. It is extremely doubtful that my endorsement of any publicly traded social media site will have any impact on Wall Street. If that were the case, I would ask my readers to subscribe to my “letter.”

http://www.bond-us.com/blog/linkedin-profile-or-resume-staffing-agency

http://www.linkedin.com/answers/career-education/resume-writing/CAR_RSW/924819-5780993

http://www.forbes.com/sites/danschawbel/2011/02/21/5-reasons-why-your-online-presence-will-replace-your-resume-in-10-years/

http://blog.cgsm.com/2012/02/08/when-will-a-linkedin-profile-replace-a-resume/

http://en.wikipedia.org/wiki/LinkedIn

http://en.wikipedia.org/wiki/Facebook

http://en.wikipedia.org/wiki/Twitter

Is all the fuss about Facebook founder Mark Zuckerberg’s “hoodie” much ado about nothing or does it represent the latest culture clash between those living in God’s time zone and those residing west of the Hudson River…in particular the left coast?

zuckerberghoodie

The tissue rejection between those who actually create value by means of real innovation on the West Coast (e.g., Silicon Valley) and those who basically generate nothing but throw their money around on the east coast is not new.

Yes, Zuckerberg is originally an East Coast creature (Exeter Academy in N.H. and Kirkland House, H-33 at Harvard), but his social media company is located on the west side of Silicon Valley, not the upper west side. Zuckerberg is definitely seen as left coast…particularly to the investment banker types dreaming of their summer holidays in the Hamptons.

And yet those on both sides of the great divide with the forgotten flyover states in-between definitely need each other whether they are prepared to admit it or not. There were the days when the Silicon Valley types could virtually ignore New York unless and until they decided to take their enterprises public. And who needed Washington, D.C., which was seen as more trouble than it was worth.

That all ended when Japan Inc. decided to wage a different war against America, not with carrier-based Mitsubishi dive bombers, but instead with predatory pricing (e.g., dumping). First, the American color TV industry bit the dust. And then the US chip industry was in Japan’s crosshairs.

Silicon Valley needed to be introduced to Washington, D.C. in a big way. With the assistance of the denizens within the Beltway, the Japan threat eased and eventually evaporated in a recessionary spin. Silicon Valley lived on, but the clash of West Coast and East Coast cultures continued.

It was that region with Stanford University on the west and Cal Berkeley to the east that gave the world, “casual Friday.” And with it came the angst associated with what exactly do you wear on a casual Friday. It was simply lame to get it wrong. To many in the east, did it mean not wearing the Hermes’ tie to work or maybe ditching the pinstripe vest?

Steve Jobs was the next incarnation of Silicon Valley’s total disdain for the Brooks Brothers types in the East. He wore Issey Miyate black turtlenecks and jeans. He eschewed the podium, pinned on the lavaliere mike and held a conversation with Apple’s enthralled Kool-Aid drinkers with PowerPoint presentations serving as his teleprompter.

jobswithipad

And now there is 28-year-old Zuckerberg with his hoodie. Horrors, he wore it to meetings with investment bankers as Facebook management was making the rounds in advance of the company’s March 18 IPO. Who is this guy to wear a hoodie? Is he taunting the monied interests? Does he show no respect?

The questions that come to mind are whether Zuckerberg doesn’t get it or do the investment bankers not get it? Is one right and one wrong, and if so which one?

On one hand Zuckerberg et al. are seeking capital to compete against Google and whatever competitors arise over the years. On the other hand, Zuckerberg controls 55 percent of Facebook stock. This is his company. And maybe, just maybe, it is the buttoned-up investment bankers that need to lighten up and get with the program.

Facebook (NASDAQ: FB) wants to be cool and took a substantial risk to its coolness by joining the more than 5,000 companies that are listed on either the NYSE or the NASDAQ. Now his firm has to file quarterly earnings reports, issue annual reports and even hold shareholder meetings. Are these cool?

Maybe in the end analysis the hoodie projects an image, even if it doesn’t meet the approval of the fashion snobs. Many post-market pundits seem to be engaged in Schadenfreude, snickering that the actual Facebook launch (garnered $104 billion in market capitalization in the face of a down market) was less than stellar. And yet the NASDAQ computers were tied up for hours trying to process all the buy orders for Facebook. Seems like a contraction, doesn’t it?

Or as Yogi Berra said about why he no longer went to Ruggeri’s in St. Louis: “Nobody goes there anymore; it’s too crowded.”

http://online.wsj.com/article/SB10001424052702304371504577406142515388550.html?mod=WSJ_Opinion_LEADTop

http://finance.yahoo.com/news/beyond-hoodie-zuckerberg-post-ipo-172345560.html

http://bits.blogs.nytimes.com/2012/05/11/why-is-everyone-focused-on-zuckerbergs-hoodie/

http://gawker.com/5848754

http://finance.yahoo.com/news/historic-facebook-debut-falls-flat-005334494.html

http://en.wikipedia.org/wiki/Yogi_Berra

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