Skip to main content

Mark Zuckerberg wrote to his top lieutenants about the benefits of 'cloning' rivals after meeting with Chinese entrepreneurs in 2012 — read the full memo (FB)

* Mark Zuckerberg wrote warmly about how Chinese apps copied competitors and urged his team to find ways to "move a lot faster" in 2012. * The Facebook CEO made the comments in an internal memo that was made public on Wednesday by the US House Judiciary Committee. * The document offers a window into the tech exec's influences, and how he has historically thought about product strategy. * Facebook has long had a reputation for blatantly copying competitors if it can't acquire them, and is now facing intense antitrust scrutiny. Facebook CEO Mark Zuckerberg had a message for his top lieutenants: Shamelessly copying competitors gets results. In March 2012, the technology executive sent an emailed message to some of his closest confidantes at the social network, relaying some takeaways from conversations he had had with Chinese entrepreneurs about their products. Zuckerberg spoke warmly about the results of China's "strong culture of cloning things quickly" — highlighting how it ultimately produces "clean and polished" apps with a plethora of features — and implored his team to think of ways to "move a lot faster." The document was made public on Wednesday by the US House Judiciary Committee as part of its year-long investigation into Facebook and other big tech firms over antitrust issues. It offers a unique window into some of the relatively early influences on Zuckerberg's thinking around product design, and how he communicated product strategy to key executives at his company in an unguarded way.  Facebook is notorious for shamelessly copying competitors if it can't outright acquire them, adopting features pioneered by other companies like Snapchat's Stories format — often to immense success. The company now faces mounting antitrust scrutiny over whether it has acted anti-competitively, and some critics are calling for it to be broken up and for its acquisitions — including Instagram, WhatsApp, and Oculus — to be undone. The email was sent to Chris Cox, a key product exec, and Mike Schroepfer, a long-time tech leader who is currently the company's chief technology officer, and later forwarded to COO Sheryl Sandberg. It details meetings between Zuckerberg and Robin Li, a cofounder of Chinese search engine Baidu, as well as with the founders of Renren, a Chinese social network similar to Facebook. "In China there is this strong culture of cloning things quickly and building lots of different products instead of just focusing on one thing at a time. This allows them to plant lots of seeds, and although it yields lower quality products in the short term as they're cloning and the markets are growing quickly, as markets mature there seems to be less of a gap between the clones and the originals," Zuckerberg wrote. He detailed an array of features Renren had built that Facebook lacked, writing that it "now seems almost as clean and polished as our own [social network]." Zuckerberg concluded: "Overall, seeing all this and the pace that new mobile apps seem to be coming out from other companies makes me think we're moving very slowly. If we were moving faster, then we might be able to build out more of the social use cases ourselves and prevent our competitors from getting footholds. "Maybe it's just a lot easier for these guys to move quickly since they're just copying other people, but a lot of the stuff that we're doing around messages, photos, etc doesn't have a huge number of original problems either." He added: "I wonder what we could do to move a lot faster."  Schroepfer enforced the memo, responding that "fast-follow is something I'm a fan of," though warning that the company needs to ensure "the engineers/[product managers] on the project are excited/motivated by what they are doing."  And Sandberg wrote that "it is hard not to agree that it is better to do more and move faster, especially if that means you don't have competitors build products that takes some of our users." Here's the full memo from Zuckerberg:   Join the conversation about this story » NOW WATCH: A cleaning expert reveals her 3-step method for cleaning your entire home quickly
https://bit.ly/30alNLG

Popular posts from this blog

Why an early exec quit unicorn food delivery startup Deliveroo to launch a food business in the middle of a pandemic

* A former Deliveroo exec has launched a market food hall startup in the middle of COVID-19. * Dan Warne was managing director of the unicorn startup until 2019, but has now launched Sessions Market as a community food hall concept to rejuvenate UK towns after the pandemic. * Warne says he hopes to bring his experience from Deliveroo, particularly about customer behavior, to the analogue world of food halls. * The first venue, Shelter Hall on Brighton seafront, launches July 4. * Visit Business Insider's homepage for more stories. On Saturday, the UK's bars, restaurants, and cinemas will fling their doors open to customers for the first time since a strict lockdown commenced in late March. Given continued public health concerns around the coronavirus pandemic, it might be unwise to open a new food business right now. But Dan Warne, a former high-level executive at British unicorn startup Deliveroo, has launched Sessions Market, a series of community-orientated food hal...

The $136,000 Maserati Levante GTS is a drool-worthy preview of what Ferrari's SUV could be like (FCAU)

* I tested a 2020 Maserati Levante GTS SUV that with thousands in options stickered at approximately $136,000. * The Maserati Levante GTS has a 550-horsepower, twin-turbocharged V8 engine, plus a gorgeous red interior. * The Levante GTS is beautiful, powerful, and fast. That puts it near the top of the luxury, high-performance SUV segment. * But competition is coming — and the Levante is a great preview of what Ferrari may put on the road in the next few years. * Visit Business Insider's homepage for more stories. Let's say you want a Ferrari, but you hail from a strange region where nobody is taught the lore of Maranello sports cars. An SUV is just your style, you decide. So you swing by your friendly neighborhood prancing horse dealership one day and ask if you can look at a couple of utes.  The dealer would thank you for your interest and slip you the business card of a colleague who represents Maserati, which since 2016 has been selling the Ferrari of SUVS, right dow...

Here's an exclusive look at the pitch deck London fintech Lanistar used to raise $19 million at a $190 million valuation

* London-based fintech startup Lanistar has raised a £15 million ($19 million) funding round from Milaya Capital.  * Founded in 2019, Lanistar is building a personal financial management platform that will launch later in 2020.  * "We're expecting a huge amount of growth upon our launch and have already seen strong interest among our sign ups," Gurhan Kiziloz, founder and CEO of Lanistar, told Business Insider. * Visit Business Insider's homepage for more stories.  The coronavirus lockdown in the UK has brought the importance of managing money into sharp relief. A recent study from Money.com shows that 71% of UK households have saved cash during lockdown, and, with uncertainty about jobs and the economy looming, money management is now front of mind for many. Lanistar, a banking platform with a focus on personal finance, is one company offering tools for consumers to better manage their money. It has just raised a £15 million ($19 million) funding round from Mil...