After two days on the road, Facebook leader Mark Zuckerberg has not impressed investors with his business savvy, when that's just what he should be doing.
After a hectic Monday in New York, when Zuckerberg kept his audience waiting because he got caught in the bathroom, the Facebook crew decided to switch things up a bit, hoping to smooth out the process. Instead of showing this "creepy, mesmerizing" video, which investors complained they'd already seen, Facebook Chief Financial Officer David Ebersman and Chief Operating Officer Sheryl Sandberg took the helm, answering questions about the social network's future business plan, according to a report by The Wall Street Journal's Jon Kamp, Kirsten Grind and Jennifer Levitz. While that move aimed to appease investors who wanted more Q&A time, Zuckerberg did not show at all, further angering some potential investors. He left about 200 people waiting and gave no reason for his absence. "I think if you're going to take public money, you should be at public meetings," Lawrence Haverty, Jr., an associate portfolio manager of Gabelli Global Multimedia Trust, told Kamp, Grind and Levtiz.
Thus far, Zuckerberg the CEO hasn't won over fans. Rather than the mature Zuck we learned about in this week's New York Magazine cover story, we're seeing hints of the stereotypical awkward Zuckerberg, who can't get it together for the New York suits. He shows up late for meetings or not at all. And when he does make it, his laid-back outfits haven't helped, coming off as shlubby. "Mark and his signature hoodie: He’s actually showing investors he doesn’t care that much; he’s going to be him," Michael Pachter, an analyst for Wedbush Securities said in an interview on Bloomberg TV. "I think that’s a mark of immaturity. I think that he has to realize he’s bringing investors in as a new constituency right now, and I think he’s got to show them the respect that they deserve because he’s asking them for their money," he continued. (Hoodies seem to have a lot of "meaning" these days.) Even the photos of him on the way to the road show kick off, he looks uncomfortable. (There you can see the infamous unprofessional hoodie, too.)