Facebook Set up Culture of Experimentation: Lesser

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Feb. 4 (Bloomberg) -- Richard Lesser, CEO at BGC, examines Facebook’s growth as it celebrates its tenth anniversary on Bloomberg Television’s “Bloomberg Surveillance.”

But mobile is the single fastest growing consumer element in the economy and they have one out of five minutes, people on mobile.

If that's not a core business, a part of our world.

Harold sanders recently said people spend more time mobile on facebook than their next closest competitor.

Is that a good thing or a bad thing for the economy?

They don't add anything to g.d.p. but they distract.

Businesses want different ways to connect to their consumers.

It's adding, making life better for people.

Providing businesses unique ways to reach their markets, providing more insight into the customers they're reaching.

Mobile is going to be a central part in the years to come.

Currently a huge player in it.

They're trying to get $10 billion, apple is $56 billion.

That shows you the scope and the scale.

I just, we talked so much about facebook and all the rest of social media, on this 10-year anniversary, is it really part of our industrial ecosystem?


You asked about themes, one is about the economy, but the other is just about technology and integral it's becoming not just to companies on the west coast, but to all companies.

The number of companies that are thinking mobile first, how to interact with customers, new ways to use data, changing the supply chain, it's incredible how fast the technology issues are rippling through the broader economy.

And they're at the heart of that, among several others.

Rich, we had this great interview with mark zuckerberg, facebook hits puberty, not sure he appreciated that.

Not sure 10 years old means puberty.

In it, mark zuckerberg said we're at a phase in the company where we can take a step back and think about what we should do next.

What do you think he should do next?

I think the -- so first of all, i think one of the most impressive things is the ability to be adaptive and aguile, even for a young country.

We assume that it's something only older companies do.

But if you look at facebook, in less than 18 months with the entire world watching and all the pressures, it's impressive.

I think they set up a culture of ex peerm men tation, papers, announcements, trying different things, a willingness to fail and tolerate failure.

Also, makes the point that mark has grown up, he's moved on from sandals to sneakers.

Do you think he still needs her around to breed that sense of credibility?

I think the results would say they're a pretty remarkable team.

If you look at a strong company, it's not one individual.

It's teams at the top that work together and re-enforce each other and bring different perspectives and capabilities.

That's what they've established.

Here is paper, on my phone.

Please don't ask about the pink cell phone case.

Here's our team, in a photograph.

I've got, there's my photos.

There's a photo i took in central park yesterday of the snow.

What's the so what here?

People wanted to connect with their worlds.

It's dramatic, the way mobile's becoming a huge part of their lives.

Every stage you can say why do we really need this?

Every new technology, this is the way the world is going.

Do they speak to you differently when you consult to social media?

10-year-old upstarts, do they listen to the consulting groups or speak to you differently than emerson electric?

Companies that are in an early phase of growth, they normally have a strong business model, they have the confidence and exuberance of youth.

They often have a lot of self confidence about what they will do on their own.

Did you see how he looked at me and said you don't have the exuberance?

Did you notice that?

It's a good segue into the next block,000. it's crushing.

Richard lesser is crushing me from boston consulting group.

Coming up in our next hour on

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


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