How Facebook Turned Down $1 Billion

LESSON 1:Know whether this is your next thing or your last thing.

Background: Building requires extraordinary willpower to keep executing. Deciding whether to go it on your own or become part of a bigger engine requires knowing the time horizon over which you’re likely to have that willpower.

Facebook’s Move: Zuckerberg had confidence that he and Facebook could grow all the way to being an independent and thriving public company, so he passed up opportunities to be acquired. Instead, he charted and then pursued—at first in his own mind, then within the company and eventually in front of the world—a 10-year-and-beyond course to make the world more open and connected.

Thought Starter: Are you building a feature, ...

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