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Methods of Prosperity 40: Mark Zuckerberg (cont.)
TL;DR
A series of disputes and lawsuits make up the legal and business history of Facebook. It starts with the Winklevoss twins and Divya Narendra suing Mark Zuckerberg in 2004. They accused him of stealing their ConnectU idea to create Facebook. Zuckerberg faced another lawsuit from co-founder Eduardo Saverin over share dilution. Saverin received $5 billion in shares. Facebook’s rapid growth attracted major investments. This included a $240 million stake from Microsoft in 2007, valuing the company at $15 billion. Zuckerberg achieved billionaire status by 2008. Facebook acquired Instagram in 2012 for around $1 billion. Zuckerberg attempted to buy Snapchat in 2013. Facebook’s rise also led to concerns over its role in spreading disinformation. This was particularly evident in the political unrest in Southeast Asia in 2015. Facebook’s business model evolved into surveillance-driven advertising. Facebook’s influence expanded. Peter Thiel was an early ...