RSS
Facebook CEO Zuckerberg acknowledges missteps
Mark Zuckerberg and his team may have transformed Facebook into much more than a place to reconnect with friends, but some critics think it's still overvalued.
Mark Zuckerberg and his team may have transformed Facebook into much more than a place to reconnect with friends, but some critics think it's still overvalued.
Kim Kulish/Corbis
I

n his first public appearance since Facebook's disastrous IPO in May, CEO Mark Zuckerberg on Tuesday acknowledged company missteps that have caused the share price to lose nearly half its value. Speaking before an audience at the Tech Crunch Disrupt conference in San Francisco, Calif., he said the company's plunging stock had demoralized employees. He also admitted that Facebook had been slow to transition to smartphones, which are increasingly becoming the dominant platform for social media. However, he also expressed confidence in the company, saying this would be a prime opportunity for investors to "double down" on Facebook.

EDITORS' PICKS

THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER

Subscribe to the Week