Zuckerberg Is Self-Critical as Facebook Turns 10

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Jan. 30 (Bloomberg) -- Bloomberg Businessweek senior writer Brad Stone and Mark Mahaney, managing director at RBC Capital, look at what Facebook may have in store to grow its business on Bloomberg Television’s “Bloomberg West.” Mahaney, his family and firm do not own shares of Facebook.

Studio.

You sat down with the zuckerberg.

He is writing down plants for 10 years from now.

Right.

Going through a lot of self reflections.

10 years since his first day with his wife.

A couple of things jumped out to me -- as surprising.

They are talking about the day as a new mobile strategy.

A lot of emphasis on the mobile network itself.

They're going forward and introducing an initiative.

They are doing more apps.

We hear about the first one today.

He really wants to be more flexible about the way people use a split's products.

They do not want to consider it a clone.

It has unique features but very much like footboard, it is a way to look at friends and articles and photographs in interesting ways.

We consider it to be a newsreader and it is really another way to consume the facebook newsfeed without all the clutter of other features on your phone.

Do you have to use your facebook login and be connected?

Right.

There was so much emphasis on real identity.

They watched as rival services like twitter and snapshot got a lot of -- use a lot of pseudonyms and not use real identities.

Instagram has been successful.

There is flexibility.

Mark was very passionate and told an author that being anonymous online was a form of duplicity.

Something he is also considering other services like this, you do not have to log in with your real identity.

Right.

Some of them will not be branded facebook.

Some of them, you could log on to anonymously.

A different strategy, showing a lot more flexibility than some of the orthodoxies of the past.

He said it is important for me because he is a really critical person.

He is generally not happy with how things are.

Everyone is their own worst critic, but you do not normally hear a ceo say that.

It is in the vein of steve jobs at apple.

Always pushing the boundaries and wanting to get better and being pretty relentless pushing his own crew.

It is one of the reasons why facebook just announced great earnings.

In the mobile shift the company faced in the last few years, mark drove the company.

If you walked into the demo and did not show mobile first, he ended the meeting.

Let's talk more about earnings.

Facebook stock is going crazy today.

I want to bring you in.

You cover facebook.

They just announced yesterday that mobile ad revenue is now 53% for the very first time.

It is the majority.

Do you feel like facebook figured it out?

They figured it out.

They misted early on.

They pivoted and it is one of the most interesting pivots we have seen in the space in the last five years.

They have now made this their primary point and it will keep getting bigger as percentage revenue.

They need to do this because the biggest trend in consumer internet today is mobile.

If you are not upfront like google was and google probably is, facebook caught up and now they are ahead here it what grade do they get?

Abe.

-- . -- b. this is a company with clear use cases.

Will we use facebook in the future as a primary tool?

Probably not.

A primary way to get the internet, probably not there that is twitter but maybe.

They will get the provision.

The facebook of the future will be more like your caber -- cable provider.

Everyone will have it but it is not necessarily fun.

Class that is probably a sentiment that captures the feelings of facebook's younger users.

You look at the engagement process on mobile in particular.

They are the highest in the history.

Next up is into -- instagram.

There is something about the service -- people are addicted to that app.

Click someone tweeted at me yesterday saying they are connected in the family in several different countries because of facebook.

We are seeing the growth in mobile active users is slowing down.

The opportunity that remains is the rest of the world.

Does saturation were you?

Growth has to slow down.

You can only grow growth so quickly.

Only one major market and that is china.

They need to get growth in countries like indonesia and brazil.

They are a little behind the curve in russia.

The single biggest driver for facebook is probably going to be monetizing their user base.

They will probably go from here to 10% for the next couple of years.

They only generate about two dollars in average per user per day.

Google does eight dollars per quarter.

They should probably be able to increase the monetization over the next couple of years.

That is where the revenue growth will come and.

It all helps.

One country that is growing fast is snapshot.

It is processing more photos per day than facebook.

Mark zuckerberg tried to buy snapshot and they turned him down.

There has been controversy.

You asked him about evan siegel publicizing private messages from zuckerberg.

He said, that is probably not what i will -- what i would have done.

Entrepreneurs always asked me what state -- what mistakes they should try not to make.

You will mess up all the stuff and we have as well.

It seems like a non sequitur and i thought about and he was obliquely calling evan's actions in that situation a mistake.

What was also not captured in the grand strip -- transcript was a long pause where you could see he could should probably not say something right now but he could not resist.

It is important to note in facebook's early state, mark himself was a little cheeky.

He was telling his users to calm down and take a breath during the first newsfeed.

You see these guys acting road elliott slate and confronting the previous juggernaut and hoping at every turn.

We talked about how he has grown up.

His goal is to write a thank you note.

Everyday.

He gives himself annual challenges.

In previous years, it was to learn chinese.

Every time he would eat meat, he wanted to kill the animal himself.

I asked him what the challenge was this year and it was to write a thank you note either in e-mail or handwritten.

I asked him who has received the notes and he declined to tell me.

A great story on the covered this week.

We will continue the

This text has been automatically generated. It may not be 100% accurate.

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