Facebook has catapulted into the media gaining the attention of investors & venture capitalists with its over 500,000 million users who account for 900,000 billion status updates and likes on a daily basis. It is an idea that was cooked up by Mark Zuckerberg in 2003 that hatched in 2004. Despite the legal hurdles he’s had to climb over, he was able to launch an IPO (Initial Price Offering) worth $100 Billion. Technically, Facebook is a part of the 1% that the Occupy Movement has been protesting. It is a company that is cashing checks worth tens of millions from GM, Ford and others totaling around $600 Million in 2011.
When it was a $50 Billion company, it employed 2,000 people, a fraction of the $1 Million people GM employed when it was a $50 Billion company. It is lean, innovative and for some, addictive. It needs less people to generate much more than some of our antiquated businesses. So can its model and innovative prowess come from the ranks of the black community? Let’s examine some of the highlights.
Zuckerberg was attending an Ivy League college when he decided to drop-out to build his vision. (Yes, we have our HBCUs but what would we tell one of our students attempting to drop-out to pursue a half-baked idea?)
Facebook provided no compensation to the visionaries that tirelessly worked to build it working out of the home of Zuckerberg. (Would we encourage college students to work for free or to “get a job!”?
Zuckerberg is not flashy. (Nothing to say here…)
Zuckerberg, the 28 year-old billionaire, rejected two offers to purchase his company, one from Yahoo! for $1 Billion and another from Microsoft for $15 Billion. (Are we wired to turn down a $1 Billion check?)
Zuckerberg doesn’t have any baby mamas and recently married his longtime girlfriend. (Have you seen the story of the 33 year-old man with 30 children? Here’s the link.)
The Facebook visionaries didn’t sabotage the company by stealing information to start their own or decided to become haters against anyone supporting him. (Nothing much to say here.)
Some would say that Facebook is causing societal disconnect, but when we say that, we must also say that Zuckerberg is one dedicated and focused individual.
So, do we have a culture in our community to produce the next Mark Zuckerberg or will we simply remain spectators and users of everyone else’s visions? It is important for us to demonstrate frugal focused behavior to our children so they mimic what we do? It is important for us to actually “water” the seeds of our ideas by investing our earnings into them.
I may not be the very next billionaire nor am I promised to become one before I die but I do know that I work hard to do right and do good by others. What about your overall behaviors? If they are copied by those around you will it make their lives better or worse? Will it make them average or accomplished?
Only you can answer these questions but know that until we are able to layout an environment where our children can blossom or one where our adults can achieve greatness, as the Facebooks go public, our community will remain private and we will forever be eye witnesses watching history made while we protest the 1% to be paid.
America’s #1 Professor for Entrepreneurs. Entrepreneurship Activist. Former Business & Economics Professor. Owner of several businesses. Publisher/CEO of Black and in Business Media. Author of 9 books. Founder of Urban Business Institute and Beauty Supply Institute. Organizer of #BlackBusinessesMatter. Opener of Black Beauty Supply Stores. Get my book Power M.O.V.E.: How to Transition from Employee to Employer at www.MyPowerMove.com. Also check out www.PowerofBlack.com and www.DevinRobinson.com.