Facebook has been deemed the biggest IPO flop in a decade. As the stock continues to tank, Mark Zuckerberg is in Europe enjoying his honeymoon with his new wife — and he is getting a ration of crap for not coming home and addressing the stock issue.
I think that judgment is a bunch of BS. Zuckerberg is doing exactly what he should be doing. He is making his family his #1 priority. He married Priscilla Chan a couple of weeks ago. He made it unequivocally clear in the letter he wrote in Facebook’s IPO prospectus that he wasn’t becoming Wall Street’s bitch when he stated:
- Facebook will not pay any attention to short-term fluctuations in the stock price
- Facebookers do not get up in the morning with a desire to “make money” — they wake up with a desire to build a great service
- Facebook cares more about its “social mission” than its business
Zuckerberg is a CEO who lets his COO, Sheryl Sandberg, leave her office every day at 5:30 p.m. to have dinner with her kids. Sandberg has been quoted as saying:
“I walk out of this office every day at 5:30, so I’m home for dinner with my kids at 6:00, and interestingly, I’ve been doing that since I had kids. I did that when I was at Google, I did that here, and I would say it’s not until the last year, two years that I’m brave enough to talk about it publicly.”
I think Mark Zuckerberg should be applauded for continuing his honeymoon in spite of an apocalyptic situation with Facebook’s stock. The world would be a better place if more business leaders created and promoted a culture that puts people’s families ahead of business objectives. I admire his family values and unwavering conviction even more than I admire his business savvy.
What do you think? Should Zuckerberg continue his honeymoon or come back and deal with Facebook’s stock crisis?