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Becoming Facebook by Mike HOEFFLINGER

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14

Connecting the Next Billion People

The most questionable business decision for the best reasons

Imagine Making this Pitch to Your Board:

I know we’re still 25% below our IPO stock price and barely have the advertising engine accelerating again in developed markets, but I want to engage in a project that will cost hundreds and hundreds of millions of dollars annually for an unknown length of time in areas we have little proven experience so that we can develop new technologies most of which we will—assuming we overcome the high risk of failure—give away to telecommunications operators known to be some of the most difficult partners in the technology ecosystem in places in the world we understand the least from a cultural and regulatory perspective ...

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