Facebook shares slip after Instagram founders quit

submitted by magnora7 from reuters.com

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newinsightfulfun

[–][deleted] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (1 child)

Related: WhatsApp Cofounder Brian Acton Gives The Inside Story On #DeleteFacebook And Why He Left $850 Million Behind. TLDR: Facebook began trying to monetize WhatsApp in ways the founders didn't like, despite contract saying they wouldn't during the first 5 years.

[–]magnora7[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Facebook began trying to monetize WhatsApp in ways the founders didn't like

That's always what it is. Big money comes in and tries to "capitalize" on an existing idea in a way that almost always ruins it. Then the website dies off, and the cycle starts again. It's sad.

[–]magnora7[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Facebook owns instagram, of course. The founders leaving is an interesting signal. The fact it's more than one is very telling, I bet they no longer agree with the direction the product is being taken.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Yeah something must have rubbed them very wrong. It looks like they lasted 6 years which I'm sure is longer than their contractual obligation. They probably had the freedom to work 2 days a week or do whatever the heck they wanted, but still left.