Facebook Inc (FB) CEO Considers Internet Should be More Affordable


Experts on Bloomberg discussed a recent article by Facebook Inc (NASDAQ:FB) CEO Mark Zuckerberg on Wall Street Journal. They also focused on how Mr. Zuckerberg is grooming the next generation of Facebook employees.

As for tapping of talents, Mr. Zuckerberg is providing internship opportunities in his company at attractive perks in the neighborhood of $6,000 per month.

facebook logo

However, the discussion was dominated by affordable Internet. Facebook Inc (NASDAQ:FB)’s CEO said in his article that Internet access is one of the fundamental challenges of his generation. “Today, only a little more than one-third of the world is connected,” he noted.

He thinks that the tech industry must innovate to make data more affordable. His argument brought to the fore the contradiction in the industry in that the cell towers are there, but they have not been upgraded to handle all the data. Perhaps part of the problem in that case is that data upgrade process is very expensive. Therefore Mr. Zuckerberg urges that tech companies should not take Internet access and lie back assuming that people will soon have access to it.

The Facebook Inc (NASDAQ:FB) head believes that when people have access to affordable Internet they do more than just connecting with friends, families and communities. They also gain the opportunity to contribute to the growth of the global economy.

“Access to online tools lets people use information to do their jobs better and in turn create even more jobs, business and opportunities.”

Facebook Inc (NASDAQ:FB) already has an arrangement with telecom carriers in different parts of the world whereby the company allows free access to its Facebook website. Such arrangements have already helped the company to add more users to its system.

The company generates most of its revenue from online advertising. As such, having a bigger number of subscribers is important in attracting bigger revenue. Therefore, it is easy to understand the concern of Mr. Zuckerberg about global Internet connection.

In the opinion piece, Facebook Inc (NASDAQ:FB) CEO Zuckerberg went on to state that the problem with Internet access not only lies in the fact that the vast majority of people still lack access. However, the rate of Internet adoption is worryingly low at less than 9 percent each year.

Disclosure: none