Why I Doubted Facebook Could Build A Billion Dollar Business, And What I Learned From Being Horribly Wrong At Andrewchen
Facebook, early 2006 Sometimes, you need to be horribly, embarrassingly wrong to remind yourself to keep an open mind. This is my story of my failure to understand Facebook’s potential. In 2006, I was working on a new ad network business that experimented a lot with targeting ads with social network data, broadly known as “retargeting” now. The idea was that we’d be able to take your interests and target advertising towards them, which would lead to higher CPMs. As part of this project, we did a meeting with Facebook when they were ~12 people.