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Myspace co-founder Chris DeWolfe on how Facebook can boost its revenue and build a better relationship with its shareholders.
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There's -- -- FaceBook -- they're also getting hit today after the first earnings report as a publicly traded company came out yesterday.
Cover the children's eyes down eleven and a half percent investors were.
-- not happy is that an understatement livid with what FaceBook founder and CEO Mark Zuckerberg had to say on the coffins -- didn't have to say.
So we thought we bring in somebody with a little advice for Zuckerberg and this guy knows a thing or two about social -- joining me now.
MySpace co-founder and former CEO.
Chris to wolf.
Chris we thought we'd bring you want because listen when you go back a couple of years MySpace was more popular than FaceBook.
Yet you never took it public you sold it for 590 million dollars to our parent company news court.
Is that part of the advice he would have given Mark Zuckerberg -- asked.
I'm not sure if you really had the option and first -- -- thanks for having me.
That whenever you become a public company whether its you sell your company to another public -- here you go public yourself.
-- there's a certain degree of transparency.
And expectations on the financial side.
They you have to meet and I think that's what they're running into right now strike net fine balance.
Revenue and profits vs you know what you do on the product side to get more users and how much information you give -- to the public.
Well they've got one billion users worldwide -- billion plus of that look by any stretch of the imagination that's very impressive but.
The whole discussion surrounds the monetization issue how can they make money off those people.
Does it -- -- you what they're doing all they -- is there's something they should be doing that they're missing.
You can always Steve Martin again that's where the balance comes between.
How hard you monetize -- users and how hard you try and make money out Saddam.
Vs the quality of the user experiences has always been the hallmark -- FaceBook and that's why they've been able to grow over seven -- eight year period of time.
And if you look at them is still about fifteen billion dollar.
-- market cap and it's.
Just because someone thought at one time that they should be worth a hundred -- -- doesn't really matter that much time that been around for seven years I think some people are squeamish because.
They're not really giving any guidance financially between now and yeah.
Am what I mean come -- now if you are running a publicly traded company Tellme would have given some guidance no wonder about annoy people.
Yeah I think they deserve some guidance I think there's been some times -- Google didn't give guidance and they said it's somewhat of a precedent that are okay.
Maybe that's -- -- Silicon Valley.
Start out to public company.
I think by it I'm I think -- should be given some guidance on side.
In their defense I think on the mobile side it's just a little bit unclear.
The amount of money that they're gonna make per user you've got.
The entrepreneurial spirit and your bounds obviously you have SGN.
The company that you started social gaming network.
Big all kinds of games panda.
Jewels of the Amazon.
Rainbow -- I've always argued that you people out there who can figure out how to convince others to spend money.
On something it doesn't exist like pixelated jewels.
You are total geniuses how -- you monetize and -- do you think that eventually you might sell your company once again.
I'm sure that Saddam probably inevitable at some point the way we look at -- is a little bit different where we started our company was very different.
We look at it not from the standpoint.
Just monetizing non FaceBook and having not -- on the platform we don't think that's a good way to run our business.
So what we did is we created a multi platform company meaning.
We create -- game once can we make money and four or five different places it's pretty simple we make money on -- -- we make money on apple.
We make money on -- -- we make money on Amazon.
And we believe that's how you do it time we think that Zynga probably spent a little bit too much time on FaceBook board.
Didn't devote enough energy to some of the other platforms early enough.
-- they maybe should spread it all out a little bit all right teach me one -- how to play rainbow Russia can't figure out ahead.
Chris thank you thank you so much any time -- wolf MySpace co-founder and SG and.
