Woz To Invest In Facebook Regardless Of The Opening Price

Steve Wozniak

One has to appreciate the confidence (and sporting spirit to appreciate a competitor) that Apple co-founder Steve Wozniak has in the leadership abilities of Facebook’s boss Mark Zuckerberg that he would buy shares of the social networking giant when it goes public on 17 May 2012, no matter what the opening price is.

The famous engineer who created the Apple I computer and co-created the Apple II system in the mid-1970s sees the 28-year-old Facebook CEO closer to the combination of himself and Steve Jobs.

Specifically, Wozniak called Zuckerberg a “real acute” businessman who mixes technical ability with the vision and corporate acumen of Steve Jobs…

The Woz told in an interview with Bloomberg Television on Sunday, 13 May 2012:

I would invest in Facebook. I don’t care what the opening price is.

I’m glad they held out so long. You don’t have to think that your only goal can be an IPO.

This saying means a lot as it comes from a guy who co-founded Apple with Steve Jobs and Ronald Wayne in a garage.

It should be noted that Woz is now chief scientist at flash storage startup Fusion-io, whose biggest customer Facebook makes up 36 percent of its revenue. Apple accounts for an additional 24 percent and Hewlett-Packard for 14 percent of Fusion-io’s revenue.

Wozniak sees certain similarities between his partnership with Steve Jobs and Zuck:

I was thankful to have a partnership with Steve Jobs and I see Mark Zuckerberg closer to the combination of us.

Why does Woz says that? He explains:

When he speaks he speaks with a lot of idealism for the users and a lot of good ideas for the product overall.

Zuckerberg recently wrote in a letter to prospective shareholders that “we don’t build services to make money; we make money to build better services.” He also added:

And we think this is a good way to build something. These days I think more and more people want to use services from companies that believe in something beyond simply maximizing profits.

Zuckerberg was also frank about his making comments on the Beacon scandal back in 2007:

We’ve made a lot of mistakes building this feature, but we’ve made even more with how we’ve handled them. We simply did a bad job with this release, and I apologize for it. While I am disappointed with our mistakes, we appreciate all the feedback we have received from our users. I’d like to discuss what we have learned and how we have improved Beacon.

Facebook is filing for an initial public this coming Thursday, hoping to raise $11.8 billion, giving it an instant market capitalization of an astounding $96 billion.

Are you foing to invest in Facebook, irrespective of the opening price? Post your comments.

Source: iDownload Blog

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