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Zero Day

Ryan Naraine, Emil Protalinski and Dancho Danchev

Zuckerberg says it's time for Facebook to become a "Social Business"

By | January 26, 2011, 12:37am PST

The 2.8+ million followers of the Mark Zuckerberg page on Facebook saw an unusual update hit their walls yesterday from the firm’s founder and CEO.

Mark Zuckerberg’s fan page on Facebook briefly featured a post, complete with misspellings, indicating he would consider a whole new revenue model for the social media titan: If facebook needs money, instead of going to the banks, why doesn’t Facebook let its users invest in Facebook in a social way? Why not transform Facebook into a ‘social business’ the way Nobel Price winner Muhammad Yunus described it?

Short lived post on the Zuckerberg fan page, 1/25/2010.

Short lived post on the Zuckerberg fan page, 1/25/2010.

The shortened link pointed to the Wikipedia entry for “Social Business”. In a social business, the objective is to address some social cause as the firm’s reason for existence. The concept is credited largely to Bangladeshi economist and Nobel Peace Prize winner Muhammad Yunus. Owners and investors can recoup their initial monetary outlay, but nothing beyond that, as profits are used exclusively to improve the company’s ability to achieve its stated mission.

With Yunus that business is Grameen Bank, a bank that provides small loans to poor people without requiring collateral.

The hash tag reference #hackercup2011 refers to Facebook’s Hacker Cup, an annual programming competition, although the reference makes little sense here.

TechCrunch is declaring the page was hacked, however Facebook has not said one way or the other what happened. If it was Mark, he probably did not discuss this model with his new investors, courtesy of Goldman Sachs, ahead of time. Most of them are probably not up for running Facebook as a business that does not deliver a return to its investors.

If the page was hacked, and it likely was, give the attacker credit for posting a message that actually sounds like it could have come from Zuckerberg, instead of something like “owned by insert name here“.

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Topics

Daniel Kennedy leads initiatives in policy and operational security management, directs strategy on risk assessment and certification, and is head of business continuity planning and disaster recovery at Praetorian Security Group, LLC.

Disclosure

Daniel Kennedy

Daniel Kennedy is a part owner of the information security consulting firm Praetorian Security Group, LLC. He has some stock in Bank of New York, and a standard 401k invested in various mutual funds.

Biography

Daniel Kennedy

Daniel Kennedy leads initiatives in policy and operational security management, directs strategy on risk assessment and certification, and is head of business continuity planning and disaster recovery at Praetorian Security Group, LLC.

Prior to Praetorian Security Group, Daniel was the Global Head of Information Security at D.B. Zwirn & Co. where he managed the firm's information security program. He was specifically responsible for the development, implementation, and maintenance of the firm's information security policies. He also managed security metrics reporting, the security awareness and education program, security incident response, security audit, and developing the firm's security technology strategy. In this role he worked closely with the firm's CIO, COO, head of compliance, head of legal, head of infrastructure, head of client services, and overseas IT managers.

Prior to D.B. Zwirn, Daniel was Vice President and Program Manager for the application security program at Pershing LLC, a division of the Bank of New York. Daniel's responsibilities included management of the firm's application security program, coordination of application vulnerability assessments and penetration testing, application security training, documentation of secure coding guidelines, and development of the firm's application security SDLC. He was the primary liaison for application security concerns between application development and teams such as the Information Security Office, Internal Audit, Information Risk Management (IRM), and the business teams. He served on several firm committees including the Infrastructure Security Workgroup, Security Architecture, and chartered and chaired the firm's Application Security Council, an interdisciplinary group consisting of application developers and information security subject matter experts.

His previous positions at Pershing included development management and systems' engineering positions building the firm's web applications for facilitating online brokerage. He has also been employed at Donaldson, Lufkin, & Jenrette Inc. in a technology analyst role for the Treasury area.

Daniel holds a Masters of Science degree in Information Systems from Stevens Institute of Technology, a Masters of Science in Information Assurance from Norwich University, and a Bachelors of Science in Information Management and Technology from Syracuse University. He is certified as a CEH (Certified Ethical Hacker) from the EC-Council, a CISSP, and has a NASD Series 7 license.

You can also follow him on Twitter as well as the blog Praetorian Prefect.

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@Fletchguy :
jjjjbbbb 27th Jan 2011
@Fletchguy :I am a facebook user and I do not like the profile that you have given me. Did not expect this here with professionals.
0 Votes
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Misleading Headline....
condelirios 26th Jan 2011
Since you can't confirm if it was hacked or not... it probably was...why make a headline that implies it wasn't? Zuckerberg didn't 'say' this quote at any rate... it was written.

Ugh. Terrible.
@condelirios Meh, headlines are headlines.
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It Was Hacked
AstroCreep 26th Jan 2011
@condelirios Yeah, it was hacked. It's been confirmed now by many different tech-news outfits. Here's one: http://www.net-security.org/secworld.php?id=10493

I think that Daniel needs to post an "UPDATE:" at the end of the article now.
@condelirios : Great security at Facebook, eh?
Who cares? Zuckerberg screwed his partner/best friend. What would he do to you if given a chance?
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@willdy

According to the book and movie....he has never publicly stated his side of the story.....
@willdy : You think that doesn't happen in business? Wozniak didn't get much of thre credit for Apple's early days and probably isn't anywhere near Jobs' worth.
Its facebook who cares except stalkers and child molestors thats who uses facebook anyways.
@Fletchguy : Sounds to me like your calling all Facebook users stalkers and child molestors. [Care to show proof or rephrase?]
Only 2.8 million of an estimated 500 million? I guess he ain't that popular. Lady Gaga is catching up to him! happy
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This article got me really thinking...why is the idea of really opening up the Facebook IPO so crazy anyway?

http://www.alchemyofchange.net/the-bank-of-facebook/
It's time for Schmidt and Zukeburg and Ellison to take a refresher class in professional ethics.
0 Votes
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@Fletchguy :
jjjjbbbb 27th Jan 2011
@Fletchguy :I am a facebook user and I do not like the profile that you have given me. Did not expect this here with professionals.

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