#TCDisrupt @arrington: your stock lost half value. would you change it? Zuck: stock performance has been disappointing. building long term- #TCDisrupt Zuck: the real issue is going to be how we do with mobile. 6 months ago we were in a bad place and didn't run an ad on mobile
- #TCDisrupt Zuck: mobile is fundamentally good for us. There are more users. Per user there's more engagement. we think we'll make more $ too
- #TCDisrupt Zuck: mobile users are more likely to be daily active users, and twice as likely to use 6 out of 7 days aweek
- #TCDisrupt Zuck: we don't build services to make money, we make money to build services is the heart of FB. We're a mission-driven company
- #TCDisrupt Zuck: the best people want to work on a mission that they believe in, and make money. We need a business model too
- #TCDisrupt Zuck: building a mission and building a business go hand in hand. We need to do both. [google-like doublethink]
- #TCDisrupt Zuck: facebook has not been an uncontroversial company in the past. We're used to it going up and down and sticking to building
- #TCDisrupt Zuck: what really motivates facebook is things that people are proud of. When we release apps, messenger, iOS… drives recruiting
- #TCDisrupt Zuck: we do compensation by translating the amount of cash into shares, so if the shares are undervalued you get more money.
- #TCDisrupt @arrington: I've said your mobile products are worst Zuck: we're very self-critical too
- #TCDisrupt Zuck: more mobile users because more phones. More engaged because with them. Seeing more posts with the new apps
- #TCDisrupt Zuck: mobile is a lot more like TV than desktop. We've had the side panel ads, which won't work on mobile. Need to be integrated
- #TCDisrupt Zuck: our early mobile ads perform better than right-hand column ads on desktop. We're getting there, but we've had missteps
- #TCDisrupt Zuck: the biggest mistake we made as a company was betting on HTML5 rather than native. I'm not against HTML5, but wasn't ready
- #TCDisrupt Zuck: we still get more mobile pageviews on the website than we do from iOS or Android apps
- #TCDisrupt Zuck: the iOS app is not in good shape and the android one will be soon.
- NB that should be 'the iOS is NOW in good shape' - typo, sorry.
- #TCDisrupt Zuck: 2 years ago we decided on HTML5 and built faceweb. We are minimizing this now, and will do native for iOS and Android.
- #TCDisrupt Zuck: mobile web is huge; our iOS and Android apps are still the biggest apps, but mobile web is huge
- #TCDisrupt Zuck: other teams are building new features for these apps; the first release was just the same features as before, but faster
- #TCDisrupt Zuck: we used to be purely functionally organised. end '11 we set up product groups: newsfeed, identity, platform with 2-yr plan
- #TCDisrupt Zuck: 1st half of the year was quiet on product stuff as we were retooling. 90% of mobile checkins used to be core, now product
- #TCDisrupt Zuck: we have a rule at FB that if you checkin code you have to maintain it, so now I don't check into the main branch any more
- #TCDisrupt @arrington: does Mark Zuckerberg code break? Zuck: everything I do breaks, but we fix it quickly
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