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Short-term investors need not apply. That’s the key message in a newly released video Facebook produced for its investor road show, which is expected to begin next week.
The highly-produced video stars Facebook’s top executives, explaining the technical details of the platform with fast-paced cinematography, and describing its advertising model with guest appearances from Ben & Jerry’s ice cream and American Express.
But the most pointed message to investors comes toward the end from David Ebersman, Facebook’s chief financial officer: we want investors who believe in our mission and are excited about our long-term potential.
For many commentators, the filing raised questions about whether Facebook can continue this pace of accelerated growth.
Sheryl Sandberg, chief operating officer for Facebook, said US education and immigration policy were to blame for the fierce battle Silicon Valley technology companies were fighting over engineers.
American universities should be “stapling a visa to every high-tech diploma” it issues to non-US students, Ms Sandberg said, rather than send foreign students back to their home countries to build companies that will compete with US ones.
Airbnb, the online service that helps homeowners rent out their houses to holidaymakers, is to strengthen its safety and security guidelines after a customer’s house was vandalised and ransacked by a renter, Techcrunch reports. A statement from chief executive Brian Chesky says the company, which hit a billion-dollar valuation in a recent fundraising, will now beef up its customer support, client education and safety functions.
Tech news from around the web:
- In an attempt to stem online piracy, Universal and Sony Music, two of Britain’s biggest record labels, are to make their new singles available for sale on the day they first hit the airwaves, PaidContent reports. The music companies hope that by being able to buy songs immediately, impatient music lovers will stop copying songs from radio broadcasts online.
- TechCrunch reports on findings by Asmyco, the Helsinki-based app developer and industry analysis advisory firm, that more than 60 Apps have been downloaded for every iOS device sold - up from 10 Apps downloaded for every iPhone/iPod touch in 2008.
“Mark Zuckerberg” and “vacation” aren’t phrases that most people would normally associate.
The Facebook founder is known for working long hours; a two-month “lockdown” over the summer kept developers in the office for extended periods while new products – such as Mail – were created.
So it shouldn’t be surprising that when Mr Zuckerberg takes holiday to China, it isn’t all temple visits and cocktails.
Facebook is tangling with regulators around the world these days, and the company’s porous privacy settings have not escaped the ire of officials in Washington, DC.
So in an effort to cope with what is sure to be more international scrutiny, Facebook has hired a White House official to work with its policy team inside the Beltway.
Marne Levine, currently chief of staff at the White House National Economic Council, will join the world’s largest social network as vice president of global public policy. In her new role, she will help build and manage policy teams in Asia, the Americas and Europe.
Last time Facebook met a UK government minister, it was enduring tabloid hell after a 17-year-old girl was murdered by a man she met through the social network.
Today saw what seems to have been a much more amicable meeting.
Mark Zuckerberg, who began his trip to Europe yesterday at a London Facebook “hackathon”, this morning met with David Cameron, the prime minister, and Jeremy Hunt, secretary of state for culture and media.
Facebook chief executive Mark Zuckerberg has just penned an editorial for the Washington Post, answering his critics and announcing that changes are on the way.
Mr Zuckerberg writes of two substantive changes coming soon — drastically simplified privacy settings, and an easy way to opt-out of third party services such as the recently launched Instant Personalisation feature. These changes are in line with what we reported on Saturday, when we revealed plans for Facebook’s “master control.”
Mr Zuckerberg, who has been criticised for not being more forthcoming in recent weeks, took responsibility for his company’s overreach. “The biggest message we have heard recently is that people want easier control over their information,” he wrote. “Simply put, many of you thought our controls were too complex. Our intention was to give you lots of granular controls; but that may not have been what many of you wanted. We just missed the mark.”