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posted by takyon on Wednesday September 26 2018, @05:57PM   Printer-friendly
from the 100-to-1 dept.

Instagram Co-Founders to Step Down From Facebook

The two co-founders of Facebook Inc.'s popular Instagram app are stepping down, a move marking continued tumult at the social-networking giant.

The co-founders—Kevin Systrom, Instagram's chief executive, and Mike Krieger, chief technology officer—clashed with Facebook executives over the extent of Instagram's autonomy in recent months, according to people familiar with the matter. Earlier this year, Chief Executive Mark Zuckerberg shifted a senior Facebook executive, Adam Mosseri, over to Instagram in anticipation that the founders might leave, one of the people said.

Among other things, Facebook officials, including Mr. Zuckerberg, clashed with the co-founders over growth tactics and how to more rapidly expand the photo-sharing app's user base, another person said. Senior Facebook officials had known the two men were frustrated working within a large company and had begun making preparations for them to leave, another person familiar with the matter said.

Also at NYT, The Atlantic, and Gizmodo.

See also: Facebook's Terrible Year Hits a New Low: The departure of Instagram's founders is a particularly painful sting during a truly rotten year.

Related: Facebook's Instagram Valued at $100 Billion (It Was Purchased for $1 Billion)


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  • (Score: 3, Touché) by Anonymous Coward on Wednesday September 26 2018, @07:28PM (9 children)

    by Anonymous Coward on Wednesday September 26 2018, @07:28PM (#740406)

    Even if the value dropped 99% (99 fucking percent!), he would still receive 8.5 million dollars! And, he'd be getting a pretty good salary no doubt.

    Goddamn. I'm surrounded by idiots.

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  • (Score: 3, Funny) by bob_super on Wednesday September 26 2018, @07:34PM (5 children)

    by bob_super (1357) on Wednesday September 26 2018, @07:34PM (#740411)

    Yes, but who would invest 5 years of their life going to a job they hate, just so they can collect a few millions or hundreds of millions at the end ?
    Don't be silly.

    • (Score: 3, Insightful) by Anonymous Coward on Wednesday September 26 2018, @07:35PM (4 children)

      by Anonymous Coward on Wednesday September 26 2018, @07:35PM (#740412)

      Most of the entire world's population. They do it everyday for less.

      • (Score: 2) by c0lo on Wednesday September 26 2018, @11:37PM

        by c0lo (156) Subscriber Badge on Wednesday September 26 2018, @11:37PM (#740523) Journal

        This is why they don't do anything that may land them in the position of throwing away zillions, because they'll never do anything worth these money.

        --
        https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
      • (Score: 0, Flamebait) by khallow on Thursday September 27 2018, @01:02AM (2 children)

        by khallow (3766) Subscriber Badge on Thursday September 27 2018, @01:02AM (#740561) Journal

        Most of the entire world's population. They do it everyday for less.

        I disagree. Most of the world's population isn't even trying. There's a lot of people who'd love to spend that wealth, but there's far less people interested in sacrificing to build it up in the first place.

        • (Score: 2, Insightful) by Anonymous Coward on Thursday September 27 2018, @08:45AM (1 child)

          by Anonymous Coward on Thursday September 27 2018, @08:45AM (#740708)

          70-80% of the world lives on less than USD10 a day. The majority live on less than USD3 a day. Most of them are trying. Because they have very little choice - if they didn't try they or their family members could be dead before the end of that five years.

          They're like someone thrown into the middle of the ocean (the many unluckier ones with weights attached), for them it's try or die. Whereas I'm in a comfy little boat... And some of you are in cruise ships working and trying hard to not get obese).

          These poor bunch can try as much as they want but only an extreme tiny percentage will succeed to be "instagram CEO wealthy". Most of those success stories you see are survivor bias. There are far fewer bestseller books by those who "tried and kept failing and never succeeded and are now old and penniless".

          I've seen people start businesses and fail, and it's not like they're doing stuff that's worse than those who succeed. In many cases their stuff is better, their prices are better. But they're "just unlucky". They've burnt their savings so they have to save up again, since they aren't rich, they don't get as many tries to succeed. There's no social security or pension schemes in many of these countries.

          There are also some success stories where the person finally get success after > 60 years old. Well many poor people don't even live that long, or by the time they're 60 their health isn't good so they're unlikely to start and create a multibillion dollar empire by the time they're 80.

          I'm a slacker and I can see that some worker in Bangladesh could work and try 10x harder than me but he has about as much chance of earning more than me as someone winning one of the easier to win lotteries. I'm just lucky to be born where I am, to a relatively rich family, with OK genes, a not too bad education, etc.

          Look at Trump too. He's the President of the USA. There are plenty of poor people who work and try harder than him.

          • (Score: 1) by khallow on Friday September 28 2018, @04:43AM

            by khallow (3766) Subscriber Badge on Friday September 28 2018, @04:43AM (#741206) Journal

            70-80% of the world lives on less than USD10 a day.

            So what? They have lower costs of living and they could have even more money, if they skipped raising a family. One can tell just how important people think money is by the choices they make both when earning and spending it.

  • (Score: 1) by khallow on Thursday September 27 2018, @01:01AM (2 children)

    by khallow (3766) Subscriber Badge on Thursday September 27 2018, @01:01AM (#740560) Journal

    Even if the value dropped 99% (99 fucking percent!), he would still receive 8.5 million dollars!

    Maybe he thinks he can do a hell of a lot better than that by leaving Facebook.

    • (Score: 0) by Anonymous Coward on Thursday September 27 2018, @02:15AM (1 child)

      by Anonymous Coward on Thursday September 27 2018, @02:15AM (#740587)

      There. Now you know the truth.