VOL 72: Is Mark Zuckerberg too Powerful?
Mark Zuckerberg's immense authority over Facebook, Instagram, and WhatsApp means he has unilateral control over a staggering three billion people.
His company does not rank among the top 50 revenue-generating companies in the world; when it comes to conventional power, he's not a significant player. In terms of military influence, he holds no sway, and he lacks strong political backing. Despite his fame, he doesn't enjoy widespread popularity. Financially, he's comfortable as one of the top 10 wealthiest individuals globally, but there are numerous other billionaires with similar fortunes.
However, what truly distinguishes Mark Zuckerberg is the immense scale of his influence, with more than 3.8 billion people using his platforms. This number accounts for nearly half of the world's population, with the exception of China, where access to Facebook has been restricted since 2009.
The case for Mark becomes more complex because of the unparalleled nature of Zuckerberg's power over Meta. Few individuals wield authority over a company to the extent that he does over Meta. Holding 13 percent of Meta's stock, he commands 61.1 percent of the voting power due to the company's unique voting structure.
That's a level of control that's pretty unique!
Also, Zuckerberg has amassed an extensive trove of data concerning a significant portion of those 3.8 billion users. The concept that knowledge equates to power holds true, and he finds himself possessing both the information and the platforms to leverage it effectively.
Rise of Facebook/Meta
Emerging from the aftermath of the dot-com bubble, Facebook (Meta) blossomed into prominence. This era in Silicon Valley's history granted founders unprecedented influence over their ventures. Through a strategy involving the division of shares and voting power, Mark Zuckerberg adeptly preserved his operational authority while offloading portions of company ownership. This has effectively positioned Meta's board as an advisory body rather than wielders of operational control.
This strategic control is significant as Mark Zuckerberg wields authority over not just Facebook but also Instagram and WhatsApp—three out of the world's five most utilized communication platforms, the others being Alphabet's YouTube and Tencent's WeChat.
In some countries, Zuckerberg's apps are the internet itself. They function as conduits for disseminating information, like a newspaper or television channel, as well as for peer-to-peer communications.
Picture a scenario where a single individual owns and runs all three major TV networks from the past century. They control a single corporation that holds all these networks and wields complete authority over them. This corporation also serves as the primary platform for political discussions and news coverage.
Love for Caesar Augustus
It's quite fascinating how Mark Zuckerberg's interest in Roman Emperors aligns with his pursuit of power. He's actually a fan of the Roman emperor Augustus (founder of the Roman Empire), which adds an intriguing twist considering his own ambitious drive for control. Interestingly, while Augustus held a significant realm during his reign, Mark's modern-day empire reaches even farther, touching the lives of countless individuals.
Mark Zuckerberg's admiration for Augustus Caesar places him in a unique lineage of individuals who have found inspiration in history. However, what sets him apart is the urgency with which he applies the lessons from Augustus's rule. Just like Augustus, both managed to create vast empires before reaching the age of 33. It's a captivating connection that sheds light on the enduring appeal of power and influence throughout history.
In March, he announced the news of his third child's arrival. He and his wife, Priscilla Chan, proudly named their newborn Aurelia.
Interestingly, the name Aurelia carries a meaningful connection to the Roman emperor Marcus Aurelius. This naming choice is part of a unique pattern for Zuckerberg, as it's the third time he's drawn inspiration from one of the most powerful empires in history.
The 39-year-old has displayed a trend of honouring historical figures through his daughters' names. His eldest daughter, Maxima, takes a twist on the Latin name Maximus. while his second daughter, August, pays tribute to the renowned Roman emperor Augustus Caesar.
The CEO’s obsession with Rome started well before he became a dad for the first time. In a 2018 interview with the New Yorker, Zuckerberg said that he became interested in Ancient Rome while studying Latin in high school.
In 2012, when Zuckerberg and Chan married, rather than opting for the traditional beach or cityscape honeymoon, the couple embarked on a Roman adventure. Humorously, Zuckerberg joked that they practically had the former emperor as their travel companion throughout the trip. He said:
“My wife was making fun of me, saying she thought there were three people on the honeymoon: me, her, and Augustus,” he said. “All the photos were different sculptures of Augustus.”
Conclusion
Honestly, the true nature of Facebook remains elusive, which also leaves us uncertain about the extent of Zuckerberg's potential influence. While Zuckerberg has shown a determined desire to outshine his business competitors, he hasn't demonstrated any significant application of his considerable power for purposes beyond competition—at least as far as our current knowledge goes.