facebook credit
“I need to go to the West sometime. get the plane ready Make time with Mark Zuckerberg.”
After Peter Thiel’s death, Eugene informed Monica and a group of close friends on a trip to the American West.
There was no reason for the other party to reject the request of Eugene, a major shareholder who already owns more than 10% of Facebook.
“And contact Paige and Brin. ah! On the way, I also met Jeff.”
The same goes for Google and Amazon.
An appointment was made right away, and Eugene flew to San Francisco.
In Palo Alto, south of San Francisco, world-class IT companies were clustered, including giants such as Google and Facebook.
Eugene first met Mark Zuckerberg, the captain of Facebook.
“We are finally seeing each other.”
Mark Zuckerberg, the world’s youngest richest man, was about the same age as Eugene, and he has shown favor to Eugene, perhaps because he is leading a large group at such a young age.
“Nice to meet you. Thanks to Mark, I have so much fun these days. And thank you.”
“Are you thanking me?”
Zuckerberg looked a little puzzled.
“I have invested in Facebook since last year and have made $40 billion so far, so I have to thank you.”
“Haha, that’s right. If so, I would be happy to accept that thank you.”
“I was thinking of sending you a small present at any time. Well, I’m not sure if you’ll be satisfied with this, but I’d appreciate it if you could accept it.”
Eugene pulled out his wallet and handed Zuckerberg a check for 100 million dollars.
“It’s a donation to the Chan Zuckerberg Initiative. I hope Chan likes it.”
“Of course. Chan will be very happy.”
Zuckerberg smiled broadly and took the check for 100 million dollars.
Of course, $100 million is a huge amount. However, more important than that is not just a gift, but the symbolism that a tycoon named Kang Yu-jin participated in the public interest foundation established by Zuckerberg and his wife Priscilla Chan.
Last year, Zuckerberg announced that he would donate 99% of his fortune to contribute to society while having a daughter with his wife, Chan.
One institution established as part of that initiative is the Chan Zuckerberg Initiative.
However, while the general public interest foundation is a non-profit foundation, the Chan Zuckerberg initiative of the Zuckerbergs was controversial because it was created in the form of a general private company LLC.
In the case of non-profit foundations, according to US law, at least 5% of their donations must be used for charitable purposes each year, but in the form of an LLC, there are no restrictions on how much money can be raised and how it will be used.
In other words, it is a public foundation only in its name, and in reality, it is an ordinary corporation, which can also engage in for-profit activities and operate as the owner wishes.
Because of this, Zuckerberg has always been questioned about the foundation’s purpose, and has also been criticized.
If you donate 99% of your wealth to the Zuckerberg Initiative and pass the foundation on to your children, you can own Facebook from generation to generation without paying inheritance tax.
Of course, Zuckerberg countered that philanthropy requires efficiency and management, so private companies are much better than non-profit organizations, but many people are still suspicious of the Marks’ good intentions.
In such a situation, if it becomes known that Eugene has donated 100 million dollars to Mark’s foundation, it will be of great help to both Mark and Eugene.
Of course, Eugene doesn’t know what Mark’s sincerity is.
Maybe it was because Eugene and Mark were the same age, and even in Eugene’s past life, Mark was passionately active, and we couldn’t see what happened after his death.
“It is too much a gift for the first meeting. But I cannot refuse.”
“I would appreciate it if you could take it as a light gift considering the profits you made thanks to Mark.”
“haha. I’ll have to work harder on this in the future. Wouldn’t it be nice to give Eugene a bonus again?”
“Sure. I am not stingy with bonuses.”
Thanks to the $100 million gift, the two were able to chat happily for a long time.
“Are you sure you’re not here to donate to the Chan Zuckerberg Initiative?”
And Mark asks the main point.
“Actually, I want to buy the stocks that Mark owns because of greed. If you think about the future of Facebook, you want to spend all your money and buy it.”
Eugene continued the joke again. That’s a very bad joke.
Like many successful entrepreneurs, Mark Zuckerberg is incredibly obsessed with the companies he creates.
Especially when it comes to B-class stocks he owns, there’s nothing more to say.
U.S. IT companies grant special rights to founders through differential voting stocks, which have 10 to tens of times more voting rights than ordinary stocks, so that even after dilution of their stake for money transfusion, they can secure control over the companies they have started. are maintaining
Facebook’s Zuckerberg has a 16% stake and controls more than 50% of the voting rights, as does Google.
Although it is impossible to issue such differential voting shares in Korea, it is a common method for US startups.
In Korea, dividends are small compared to the price of stocks, so it is the voting right that actually determines the value of stocks.
Moreover, there are many cases where the profits generated by a company are used only for the controlling shareholders in a variety of ways, such as diverting them through subsidiaries, which can be seen as a loss of trust.
On the other hand, in the case of the United States, it is impossible to create a subsidiary and steal profits, and sufficient dividends are being paid to shareholders.
For that reason, the shareholders guaranteed the founder’s voting rights, and because they believed that they would provide sufficient performance, it was also possible to issue differential voting rights.
Mark’s demand for this special voting share, which is the source of Facebook’s dominance, would be like calling for a war.
“That’s the best joke I’ve heard this year. haha… … .”
Mark’s eyes widened a little.
Judging by the look on his face, it seemed that the public doubts about his donation were not entirely unfounded.
“If you enjoyed Mark, it seems that the purpose of your visit has been fulfilled. haha.”
“Right. This is the third time since I was born that I was as embarrassed as I was today. I was sweating a little.”
In fact, sweat was dripping down Mark’s forehead. Eugene, who has the world’s best cash mobilization ability, would not have sounded like a joke.
“Actually, I wanted to meet Mark because of Facebook credits.”
After a bit of a surprise for the youngest man in the world, we finally get to the point.
“Facebook credits have already been withdrawn for three years.”
Mark said with a breath of relief that Eugene’s purpose was not to take control of Facebook.
“Then it would be about 2 Facebook credit marks.”
Eugene has made it clear that this is a discussion of the future, not the Facebook credits of the past.
“Hmm… … .”
Unlike before, Zuckerberg looked at Eugene with a cautious face.
“I recently heard that Eugene is interested in cryptocurrencies.”
Zuckerberg paused for a moment, then opened his mouth.
“You say you’re investing quite a bit in the cryptocurrency market?”
“yes. I think Mark would agree on the future of cryptocurrency.”
Mark Zuckerberg had already announced Facebook Credits that could be used in the Facebook ecosystem in 2009.
Facebook credits, a virtual currency that Facebook users in various countries can use for various activities within Facebook, are used to use various games and contents provided by Facebook in lieu of currencies of each country, and The developers were trying to make it possible to exchange the Facebook currency received by consumers into the currency of each country.
Zuckerberg did not stop using Facebook Credit as a virtual currency that can only be used inside Facebook, but gradually increased its utilization and made it circulate smoothly in the real economy market.
Facebook, a huge online empire with billions of users, was trying to create a new currency that such users could freely use regardless of country to gain revenue from the circulation of money and its power.
Facebook has a wide range of users not only in the United States, but also in Europe as well as in the third world, and if people from various countries use Facebook Credit, which guarantees payment within the Facebook ecosystem, instead of currency, it will be able to exert economic power more than any other country. because it will
But for a number of reasons, Facebook Credits failed.
Of course, the biggest reason is the checks and checks by governments around virtual currencies.
“Mark 2… … That’s a wonderful word.”
Zuckerberg said with a laugh.
Even years after the Facebook credits expired, Mark Zuckerberg still has a longing for the currency that Facebook dominates.
“The reason for suggesting it to me is probably because of the revitalization of the cryptocurrency market.”
“you’re right. And I think Mark will want it too.”
“But I have no intention of embedding traditional cryptocurrencies into Facebook.”
Mark Zuckerberg, as well as many ambitious people, want their own alternative currency, not simply because of holding or trading the currency.
It is the power itself that arises from minting money.
About half of the power of the United States is the military power that can win even if it fights against the world, but the other half is the right to print dollars at will.
It is for this reason that China and Japan are making continuous efforts to make their currencies have enough power in the world economy in place of the dollar, which is the key currency.
In a market economy, there is no power as strong as the power to issue money. Even military force is nothing more than a means to support such authority to issue money.
And the emperor of Facebook, with its billions of members, wanted that power.
“Bitcoin and Ethereum will probably not be on Facebook for a while.”
So Zuckerberg was able to reject Eugene’s offer without any hesitation.
“I think I said Facebook Credit Mark 2 from the beginning.”
Eugene had already anticipated his reaction.
“It refers to the currency issued and circulated by Facebook. It will have a much more sophisticated and reliable protection of personal information, unlike Mark 1.”
“Hmm… … .”
Mark Zuckerberg’s troubles deepened. In fact, he has always been thinking about the next generation of Facebook credits.
In particular, as the market size of cryptocurrencies grew and various types of cryptocurrencies appeared one after another, he was even thinking impatiently.