Zuckerberg: 'When I Started Facebook I Had No Idea What I Was Doing'
On Facebook 14th anniversary Zuckerberg admits: I've made almost every mistake. I've made dozens of errors and bad deals. I've trusted the wrong people...
by Albert Hecht, Jewish Business News
February 8, 2018
Facebook CEO and founder Mark Zuckerberg sums up the journey he took to launch the world's largest social network. In a Facebook post Zuckerberg told of what he had learned since he founded the company 14 years ago.
Zuckerberg, 33, said he had no idea what he was doing when he opened Facebook. "I was 19 when I started Facebook, and I didn't know anything about building a company or global internet service. Over the years I've made almost every mistake you can imagine. I've made dozens of technical errors and bad deals. I've trusted the wrong people and I've put talented people in the wrong roles. I've missed important trends and I've been slow to others. I've launched product after product that failed," he wrote.
At the company's current point of time, when Facebook is solid and after showing high profitability in 2017, Zuckerberg stops for self-examination. "It's a moment to reflect on how far we've come from that dorm room at Harvard and how far we still have to go to bring the world closer together. And it's a moment to think about what we need to do better.
In his words, the boss of the largest social network, referred to the last quarter of the past year, according to users of the platform spent 50 million fewer hours a day.
According to Zuckerberg, the cause of this is the changes in the algorithm designed to reduce the number of videos displayed in the feed.
In the post, Zuckerberg explained: "The reason our community exists today is not because we avoided mistakes. It's because we believe what we're doing matters enough to keep trying to solve our greatest challenges — knowing full well that we'll fail again and again, but that it's the only way to make progress.
"We are still early in this journey and we will keep working to improve. That focus has always been our strength, and that's what this year is all about."
Zuckerberg concluded the festive post with his future aspirations for Facebook: "Bringing us closer together with our family and friends matters, and 14 years in I'm proud of what we do and grateful to be a part of something so meaningful.
It's an honor to be on this journey with you."