New Internet Meme - Zuckerbucks
The fictitious unit of money used to describe a startup founders 'net worth' before any shares are sold. In lieu of using US Dollars to state a startup founders net worth before a liquidly event state the amount in Zuckerbucks so as to avoid confusion. http://www.forbes.com/lists/2008/10/billionaires08_Mark-Zuckerberg_I9UB.html
10 comments
"Zuckerbucks" was used in a Joy of Tech comic: http://www.geekculture.com/joyoftech/joyarchives/1015.html
Haha dang it! I thought I was being clever, oh well better luck next time.
Anyone remember sniglets? I used to have a book of them. I'm not sure Zuckbucks qualifies as a 'Meme'
It's also a (not that successful) virtual currency on Facebook.
http://www.facebook.com/apps/application.php?id=2374474963&#...
http://www.facebook.com/apps/application.php?id=2374474963&#...
Thanks for the reference alex_c! If any one needs some virtual Zuckerbucks, let me know and I'll hook you up.
- Adam (owner of Zuckerbucks.com + developer of the facebook app)
- Adam (owner of Zuckerbucks.com + developer of the facebook app)
It isn't very strange actually. Bill Gates's value is based on the last closing price of Microsoft, and Zuckerberg's is based on the last "closing price" (although a few months ago) of his company. Shares of Facebook have been sold but they are not sold on a regular basis (such as every few seconds, as is the case with MSFT). That's the only difference.
Now, you might argue that Facebook is overvalued, but then it would no longer be an objective list.
I agree that there is a parallel but the difference is very real. While both Bill and Mark have their net worth based on their assets only Bill could actually sell those assets today to achieve that net worth. Also, as you mentioned, Microsoft is traded nearly every second so the value of each of Bill's shares are infinitely closer to their actual value.
Zuckerberg's net worth is based off the inflation that Facebook's shares have received after the latest round of investment. He doesn't have the option to sell those assets and as such shouldn't be able to count that as his net worth. I highly doubt that Mark Zuckerberg could sell his shares of Facebook for $1.5 billion right now. I also doubt that had that latest round of financing happened this week that it would have valued the company so high.
To place someone on a list as the 'Youngest Billionaire in the World' when he actually has only the chance at $1.5 billion is a mis-understanding. Therefore the term Zuckerbucks should be used to state what his net worth COULD become if he is able to reach a liquidly event.
Zuckerberg's net worth is based off the inflation that Facebook's shares have received after the latest round of investment. He doesn't have the option to sell those assets and as such shouldn't be able to count that as his net worth. I highly doubt that Mark Zuckerberg could sell his shares of Facebook for $1.5 billion right now. I also doubt that had that latest round of financing happened this week that it would have valued the company so high.
To place someone on a list as the 'Youngest Billionaire in the World' when he actually has only the chance at $1.5 billion is a mis-understanding. Therefore the term Zuckerbucks should be used to state what his net worth COULD become if he is able to reach a liquidly event.
Liquidity is the huge difference.
You are correct. But I wonder what would happen to MS stock if Gates decided to dump all of his shares at once. I wonder over what period of time someone can sell their shares without negatively impacting the stock price (and thus their overall income).
Since the stake in Facebook was sold as part of a conditional advertising agreement, it shouldn't count as a "closing price".