Facebook became a publicly traded company on Friday and after a tepid market response, the social network’s shares fell below it’s IPO price when the market opened this morning.
Ben Mezrich wrote the book that was adapted for the screen as the blockbuster movie “The Social Network,” and he sits down with Starting Point this morning to explain how he thinks Mark Zuckerberg is responding to the disappointing IPO.
“Zuckerberg doesn’t really care. He doesn’t really care about money,” Mezrich says. For him personally, “it’s more about people wanting to use Facebook.”
Mezrich calls Zuckerberg a “bit of a strange guy,” who’s “very socially awkward.” However, Mezrich says that Zuckerberg’s “megalomania and his belief in Facebook will be good for the company.”
Mezrich also responds to the outrage that erupted last week after Facebook co-founder Eduardo Saverin renounced his U.S. citizenship, a move that may allow him avoid paying an estimated $67 million of taxes on the social network’s IPO launch.
“I don’t think he thought it through or realized how upset people would get about it,” Mezrich explains.