And to hear the 33-year-old entrepreneur tell it, he had to learn everything.
Now a titan of the tech industry and sitting at the helm of a company with a market capitalization of almost $550 billion, Zuckerberg says that when he launched Facebook, he had no idea what he was doing.
âI was 19 when I started Facebook, and I didnât know anything about building a company or global internet service,â Zuckerberg says in a Facebook post published on Sunday.
âOver the years Iâve made almost every mistake you can imagine. Iâve made dozens of technical errors and bad deals. Iâve trusted the wrong people and Iâve put talented people in the wrong roles. Iâve missed important trends and Iâve been slow to others. Iâve launched product after product that failed,â writes Zuckerberg of his missteps.
âItâs a moment to reflect on how far weâve come from that dorm room at Harvard and how far we still have to go to bring the world closer together. And itâs a moment to think about what we need to do better,â Zuckerberg says.
âWe are still early in this journey and we will keep working to improve. That focus has always been our strength, and thatâs what this year is all about.â
Since the early days, Facebook has grown massively. Today, the social media behemoth seesÂ 1.4 billion daily active users and 2.1 billion monthly active users. Notably, however, in the most recent quarter, Facebook saidÂ users spent 50 million fewer hours per dayÂ on the platform. According to Facebook, thatâs due to algorithm changes made to reduce the number of viral videos displayed.
âThe reason our community exists today is not that we avoided mistakes. Itâs because we believe what weâre doing matters enough to keep trying to solve our greatest challenges â knowing full well that weâll fail again and again, but that itâs the only way to make progress,â he says.
Indeed,Â Facebook has had a challenging year. The social media conglomerate has come under intense scrutiny after Russian hackers disseminated âfake newsâ on the platform in a way that allegedly influenced the Presidential election. Further, the company itself has admitted thatÂ social media can be bad for usersÂ if they scroll passively through content as opposed to engaging actively with individuals who mean something to the user.
In response to these and other challenges, Facebook has pledgedÂ to add 10,000 people to its ranks too â as of December 31, 2017, the social media giant hadÂ 25,105 employeesÂ â to address safety and security. Also, Facebook says it will change its algorithm toÂ promote more local newsÂ and will prioritize news from âhigh-quality news sourcesâ and usersâ friends.
âBringing us closer together with our family and friends matters, and 14 years in Iâm proud of what we do and grateful to be a part of something so meaningful,â Zuckerberg says.
âItâs an honor to be on this journey with you.â