S1 Ep 5 Tech Giants
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| Mark Zukerberg by Anthony |
Facebook origin
In the early age(around the 2000s) of the internet, It was only used for mail purpose, but now the internet is fallen under the necessary item in human beings' lives. It all happens with the help of social media like youtube, Linkedin, Instagram, Whatsapp, and Facebook. In this episode, we will know about the story behind Facebook and its Founder/CEO Mark Zuckerberg. Facebook shows us how's a company can succeed. But the name Facebook was continuously under controversy. So let's understand the success of Facebook by breaking the route into parts.Before Facebook
Mark Zuckerberg is the single boy in the house and has 3 sisters. Therefore his parent was super supportive to him. He was a genius in the field of technology from an early age. His father, Edward Zuckerberg, taught him atari basic programming language after becoming a software Engineer as a tutor for programming. At the age of 11, Mark made zuk.net software to communicate with his father, a dentist, and his office is situated above their home. During high school, mark made a synapse music player for which both Microsoft and AOL approached him and offered the job, but he refused both companies and uploaded software for free online. And enroll in Harvard. |
| HARVARD |
Harvard and Face mesh
After enrolling in Harvard, Mark breached into the college database and collected photographs of all students. Which he uses in his website Facemesh. Face mesh was comparing based website Where comparisons of students happen based on their hotness. In around 3-4 hours of the website launch, the site crashed, and Mark's popularity increases in Harvard as "fire in the forest." But students who were not happy with the comparison (who came less hot) complain to the authority. And Harvard accused Mark of breaching, copyright and under pressure, Mark shut the website.Beginning of Facebook
But because of this whole scenario, Mark gets introduced to his seniors in college Tyler and Cameron Winklevoss, and their business partner Divya Narendra. They had planned to make a software, namely Harvard connection. But they were missing a software developer. For this, they considered Mark and shared their idea with him. Mark agrees with them, but in a couple of days, Mark launches his own website, namely "The Facebook,." which was based on the idea of the above trio. They sue Mark Zuckerberg. Twin got a certain amount of money they invested in bitcoin, and now they are Bitcoin billionaires.Mark Zuckerberg's Mother and Facebook logo
Mark's mom Karen Kempner is psychiatrist. During early ages, Mark got to know about psychology from his mom. And the blue color in the Facebook logo has reason related to psychology. The blue color is the color for trust. By which people can trust Facebook and upload their detail on the website. Mark uses many features which is related to psychology. |
| Facebook, Instagram, Whatsapp |
Facebook was launched on 4 February 2004 under the name of "TheFacebook," but later, after his friend's advice, he changes the name to Facebook. And the early age of the software was only available to Harvard students, but later, it expands to the whole world. In 2012, Facebook crossed 1 billion users, which was a milestone for the Facebook team. During this time, one more social media company was growing at a great pace Instagram. Which had only 13 member team at that time. But Facebook bought Instagram at a monstrous price of 1 billion Us dollars. And In 2014, Facebook bought Whatsapp, which was another growing social media.
Lawsuits
Facebook has been involved in multiple lawsuits since its origin.In March 2020, The Office of the Australian Information Commissioner (OAIC) had sued Facebook Inc. for significant and protracted infringements of the rule on privacy involving the Cambridge Analytica fiasco. Every violation of the Privacy Act is subject to a theoretical cumulative liability of $1.7 million. The OAIC estimated that complete of 311,127 Australians had been exposed.
On December 8, 2020, the Federal Trade Commission, along with 46 US states (excluding Alabama, Georgia, South Carolina, and South Dakota), the District of Columbia, and the territory of Guam, launched Federal Trade Commission v. Facebook as an antitrust lawsuit against Facebook. The lawsuit concerns Facebook’s acquisition of two competitors – Instagram and WhatsApp –and therefore the ensuing monopolistic situation. FTC alleges that Facebook holds monopolistic power in the US social networking market and seeks to force the company to divest from Instagram and WhatsApp to break up the conglomerate. However, William Kovacic, a former chairman of the Federal Trade Commission, argued the case will be difficult to win because it would require the govt to make a counterfactual argument of an internet where the Facebook-WhatsApp-Instagram entity did not exist and prove that it harmed competition or consumers.
Conclusion
So this was the story of Facebook and Mark Zuckerberg story. We didn't touch subjects related to the Facebook and Cambridge analytical scenario. But if you guys want us to write a whole case study, we can do that. So do let us know in the comment section. And also, we are not on Facebook. Why? This question is going to answer in the next part.
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