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IPFS News Link • Social Networking/Social Media

Mark Zuckerberg Has Secured Control of Facebook for Years to Come

• http://www.wired.com

At Facebook's annual shareholder meeting this morning, one investor had an unusual question for CEO Mark Zuckerberg.

"One of the downsides of being successful and rich is you create some resentment from people," he said. "How do you make yourself warm and fuzzy and loved throughout the world?"

That might seem like a random question from an eccentric. But how the world views Zuckerberg—and how Zuckerberg views the world—matters more than ever for Facebook. That's because for possibly decades to come, Facebook's future is Mark Zuckerberg.

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At the meeting, Facebook shareholders voted to approve a restructuring of the company's stock offering that ensures Zuckerberg keeps his majority ownership even if the company issues more stock. That means for the foreseeable future, Zuckerberg is in control.

Responding to the shareholder's question, Zuckerberg said in order to keep people interested in Facebook, you have to be clear about what you're trying to do. "If you say clearly what you care about and how you're going to make decisions and what you're going to invest in, then people who want to be a part of that opt in and choose to be part of that," Zuckerberg said. "And people who don't like it choose not to."

Not Going Anywhere

So far, more than 1.65 billion people are opting in every month, which gives shareholders little reason to want anyone else in charge. More than 1 billion people look at Facebook on mobile devices every day, and the company brought in more than $5 billion in revenue just last quarter. In other words, Zuckerberg is not exactly pushing people away.

Thanks to its ability not just to attract a massive audience but to get them to reveal so much about themselves, Facebook has been able to give its customers—that is, advertisers—options that keep them coming back and spending their money. Facebook can insert highly targeted mobile ads into its News Feed. It has aggressively ramped up video, which opens the platform to lucrative video ads. On Instagram, it offers visual ads that make Google's AdWords look like just so many words. "For the very long run, I believe our monetization will be primarily advertising," said Facebook chief operating officer Sheryl Sandberg, Mark Zuckerberg's chief counterpart at the top of Facebook's corporate hierarchy.

But Zuckerberg appears to know that remaining the undisputed king of mobile means coming up with new things to offer, which is why he's committed so heavily to messaging in the form of both WhatsApp and Messenger.