Video games have gotten a bad rap for years now. They create killers, many critics like to claim. They glorify criminal behavior, some politicians often shout.
But often left out of the video game discussion is how video games can actually be helpful to a child’s intellectual development. While it may sound a bit outlandish at first, video games can often help kids hone their problem solving skills, sometimes without them even realizing it. What’s more, kids who really love video games often start trying their hand at making their own, a sentiment recently articulated by none other than Facebook CEO Mark Zuckerberg who credits his childhood love of video games with turning him into a programmer.
I’m not sure if it should be a source of embarrassment or pride (or perhaps neither), but I was up and running on Facebook back in late 2004, back when Friendster was still the top dog of social networking. As a student at the time, I was able to witness first-hand how quickly Facebook was able to secure a foothold in the daily lives of college students. Writing on “the wall” on your friends’ pages, poking people, joining an endless string of groups — these were just a few of the many fun and quirky features why helped Facebook became an instant hit with students.
Still, at the time no one could have really predicted that Facebook would go on to become a household name, not just in tech, but across the globe. That said, it’s always interesting to take a stroll back in time and look at how Facebook was viewed well before it became the de facto social network it is today.
The saga of Paul Ceglia is one for the record books. In 2010, Ceglia sued Facebook alleging that he was entitled to a 48% ownership stake in the popular social network, a stake which would have entitled him to billions of dollars. More →
Social networking giant Facebook is reportedly set to make its initial public offering on May 18th, a day later than earlier reports had claimed. Company co-founder and chief executive officer Mark Zuckerberg, chief operating officer Sheryl Sandberg and chief financial officer David Ebersman will take part in a roadshow beginning on Monday that will see the company host a number of meetings to pitch its stock to investors, The Wall Street Journal reports. An offering will then be made on May 18th, the report claims. Facebook’s IPO could raise a much as $10 billion and value the company at as much as $100 billion, making it the largest Internet IPO in history. Google’s 2004 offering currently holds the record at $1.9 billion. Facebook will be listed on the NASDAQ under ticker symbol FB. More →
Facebook on Wednesday formally filed documents with the U.S. Securities and Exchange Commission in its first step toward an upcoming initial public offering. Facebook said it is looking to raise $5 billion with its IPO, which has been eagerly anticipated by the Street and by investors. Morgan Stanley, JPMorgan Chase, Goldman Sachs and others will underwrite the offering, and Facebook could raise as much as $10 billion following its IPO. Reports surfaced this past Friday stating that Facebook had plans to file for an IPO this week at a valuation of between $75 billion and $100 billion. At $5 billion, Facebook’s IPO would be the biggest Internet IPO in history, besting Google’s $1.9 billion 2004 offering by a huge margin. Facebook’s IPO also has the potential to top Infineon’s $5.9 billion offering, which is currently the biggest global technology IPO on record. In 2011, Facebook recorded sales of $3.71 billion and earnings of $0.43 per share on net income of $1 billion according to its S1 filing. Facebook also noted that it currently has 845 million monthly active users, and CEO Mark Zuckerberg owns 534 million shares, or 28.4% of the company. Zuckerberg’s public letter regarding the IPO follows below in its entirety. More →
I attended the world premiere of The Social Network yesterday evening to kick off the New York Film Festival, and while I had reservations about the movie, I was still admittedly excited. After the movie finished, I heard one of the loudest applauses I have heard in a while. The writing was impeccably sharp, hilariously funny at times, and the movie was probably the best I have seen all year. Yes, there was a scene where Mark Zuckerberg got his business cards that said, “I’m CEO, Bitch!”, and no, Justin Timberlake didn’t suck — he gave an incredible performance. But Jesse Eisenberg. Man, that kid completely encapsulated Mark Zuckerberg’s persona and identity complete with quirks, speech patterns, and even twitches. Every character was thoroughly enjoyable and memorable; the plot, while obviously predictable, was brilliantly sliced up to run concurrently with the legal drama surrounding the Facebook CEO and his company. Every scene had a purpose, and every scene had you drawn in. For a movie we all panned from the beginning as soon as we heard about it, it turned out to be one of the best viewings that I have been to.
Bloomberg is reporting that social network Facebook will postpone an IPO until 2012. Investors have been speculating that the world’s largest social network — valued at $24.9 billion — would go public sometime in 2011. Bloomberg writes, “Waiting lets Zuckerberg, 26, hone the skills needed to steer a company that issues quarterly results while facing criticism on such matters as user privacy.” Facebook declined to comment, and Zuckerberg himself said his company would offer an IPO, “when it makes sense.” People familiar with the company estimate that the social network would bring in as much as $1.4 billion in sales in 2010 alone. Would any of you jump on the Facebook IPO if given the opportunity? More →
The timing could not be better worse. In the middle of a privacy crisis which has seen countless users delete their accounts, a script for an upcoming movie based on the youthful exploits of Facebook’s Mark Zuckerberg has leaked out. Produced by Kevin Spacey, “The Social Network” portrays Zuckerberg (played by 26-year old Jesse Eisenberg) as a drunk satyriatic whose creation of the popular social networking site was spurred on by heartbreak after his girlfriend dumped him at the age of 19. The film also alleges that Zuckerberg was heavily motived by sexual insecurity. After hitting rock bottom and dropping out of Harvard, the film sees Zuckerberg move to the Silicon Valley with where he “indulge his fantasies with a stream of ‘groupies'” while his partner and Napster co-founder Sean Parker (played by Justin Timberlake) watches after the site. The Social Network is scheduled for release this October. More →