Facebook IPO: Mark Zuckerberg’s letter to prospective investors outlines core values
WASHINGTON: Facebook founder Mark Zuckerberg revealed his company’s five core values on Wednesday in a letter as he filed paperwork to raise $ 5 billion in the largest flotation ever by an internet company. Here is that portion of the letter:
“Focus on impact: If we want to have the biggest impact, the best way to do this is to make sure we always focus on solving the most important problems. It sounds simple, but we think most companies do this poorly and waste a lot of time. We expect everyone at Facebook to be good at finding the biggest problems to work on.
“Move fast: Moving fast enables us to build more things and learn faster. However, as most companies grow, they slow down too much because they’re more afraid of making mistakes than they are of losing opportunities by moving too slowly. We have a saying: ‘Move fast and break things.’ The idea is that if you never break anything, you’re probably not moving fast enough.
“Be bold: Building great things means taking risks. This can be scary and prevents most companies from doing the bold things they should. However, in a world that’s changing so quickly, you’re guaranteed to fail if you don’t take any risks. We have another saying: ‘The riskiest thing is to take no risks.’ We encourage everyone to make bold decisions, even if that means being wrong some of the time.
“Be open: We believe that a more open world is a better world because people with more information can make better decisions and have a greater impact. That goes for running our company as well. We work hard to make sure everyone at Facebook has access to as much information as possible about every part of the company so they can make the best decisions and have the greatest impact.
“Build social value: Once again, Facebook exists to make the world more open and connected, and not just to build a company. We expect everyone at Facebook to focus every day on how to build real value for the world in everything they do.”
