Facebook twins lose court case

Mark Zuckerberg (Facebook) Pictures, Images and Photos
The Winklevoss twins who gained recognition in the Facebook movie The Social Network for suing founder Mark Zuckerberg lost their lawsuit yesterday. Anyone that is familiar with the story or watched The Social Network will recall that the twins were already awarded $65 million in a settlement. However, given the significantly higher valuations by investment company Goldman Sachs, they figured they deserve more than the measly $65 million they were awarded. The court apparently did not agree.

The twins said that they had new information that proved that Facebook and Zuckerberg knew the company was worth more than they said at the time and that their newly found evidence was very incriminating. Again however, the court saw it differently. I always believed that the twins did not deserve to win this case. The fact is that without Mark Zuckerberg they would never be able to make Facebook and certainly not make it as successful as it is. On the other hand, Mark Zuckerberg proved that he did not need the Winklevoss twins to make Facebook what it is today. Besides that, Facebook is not even the same idea as the Winklevoss twins had with their ConnectU social networking site.

This case brings up an important issue in business. Most people that come up with some new business idea are very reluctant to share it with others. They fear that the idea will be stolen from them. I have even heard people reference this Facebook court case as proof that it’s not good to share new business ideas. This thinking is not only wrong, it is counter productive. There are courses in business schools that have the sole purpose of teaching students to share business ideas. Sharing business ideas helps to sharpen the idea and allows people with other points of view to improve it or prevent you from making a bad investment. The chance that someone will actually take your idea and run with it is so small that you shouldn’t even consider it. Obviously know who you’re talking to about it but, don’t be afraid to talk about it. This is solid business advice that most people do not utilize.