Mark Zuckerberg: prediction

Transcript context

…Yeah, I want to ask you what you were thinking going into the IPO with Facebook on mobile being HTML5, and what happened to IPO at $100 billion market cap over the next three months. You have a 50% drawdown, probably because of that, but I guess the related question to what we're talking about now is how much is that informing your approach here with AI? I think it was a pretty different technical issue. I mean, our legacy was building on web for websites and we were very used to building one thing and being able to continuously deploy it and it fits with our iteration style and all that. Now, all of a sudden, this app model comes along and it's like we have to build like different ones for each phone and like you have to go through approval to get it shipped and we have to wait like weeks before it can ship. It's like this sucks. We're like, all right, we have an idea, let's build this platform where we can get a web-based platform. You basically build a native shell and you build this web-based platform in it and we'll be able to just update our apps every day and we'll ship one thing once and we'll update our apps across android and iPhone and Blackberry and Windows mobile and all the stuff that existed at the time because it hadn't gotten consolidated yet and, um, we're that's going to be that's. We're like, basically, whatever downside we are going to have from not having the most native thing, we're going to make up for in velocity and by having way more of our energy focused on one platform. Well, we were wrong. It turned out that you know, having the native integration was actually critical for having the interactions feel good and that so we basically went through this period where we had to go rewrite our apps from scratch. That coincided with mobile growing dramatically, and mobile we didn't have any revenue, because it may seem like it's pretty similar, but there's a very big difference. On desktop you basically have the app and you have a column on the side that we could put ads, and on mobile we needed to figure out what does it mean to put ads into the experience? Let's be clear the 'feed ad' had not been invented yet.…

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