Facebook is going to become a publicly-traded company.
If you have ever worked for a public company you can relate to what I am about to say. If you haven’t, you’ll have to trust me.
The pressure of “public”
The tone of Facebook and its strategy is about to change in ways that could portend desperation and disaster. Instead of managing for a long-term vision, becoming a public company creates an inexorable and relentless pressure to meet quarterly sales goals.
If you have ever been an executive in a publicly-traded company, other than hearing “A crew from ’60 Minutes’ is at the door,” there is probably no greater pressure in business than the demand to grow, grow, grow the revenues; to “beat the street,” without exception, without fail.
Maybe it will take a few months, a year or more, but inevitably the marching orders of Facebook executives will be determined by this constant drumbeat of “more, higher, faster.”
Now, what is the source of Facebook’s growing revenues? You and me.