Zuckerberg Wears a Hoodie, Sheryl Sandberg Wears the Pants
What a load of hyperbolic absurdity.
Like political candidates, the media will do whatever it takes to direct you to a spectacle of emotion rather than a boring dose of logic. That's been the beauty of the Republican party -- turn elections into referendums on social issues that, while important, have no business impacting or, worse yet, deciding an election.
To secure your eyeballs and attention, the media takes something the Facebook IPO and frames it like a Hollywood screenplay. They cast heroes and villains and turn the entire episode into a dichotomous battle between good and evil. This form of sensationalism has become such a part of everyday life in newsrooms across the country that the folks pulling the fire alarms barely realize, on any conscious level, what they're doing.
The media mongers fear by pointing out that Mark Zuckerberg owns a majority of Facebook shares and, as a result, controls the company. At the end of the day, if Zuck wishes to make it so, he can render the company's board of directors irrelevant. The media loves taking the official term for this type of arrangement -- Facebook is a controlled company -- and making it sound as ominous as possible.
First, why in the world should Zuck not have control and, ultimately, the final say over the company he created and continues to nurture? The company did not do an IPO to cede control to you or board members such as Netflix(NFLX) CEO Reed Hastings.
If your lemonade stand went public when you were a kid, you probably would have wanted to call the shots, not your best friend's hot sister you gave a token board seat to.
But, that perfectly sane and logical reality aside, the media -- and investors who lap up everything the media says (not you!) -- completely misunderstand the power structure at Facebook. In the process, they cheapen Mark Zuckerberg's accomplishments. They discount not only the solid decisions he has made as the business grew rapidly, but his ability to make them in the first place. It stuns me that you can create something out of your dorm that practically "everybody" in the world uses, yet you can't get any respect.