This morning Bloomberg published an article featuring a harsh criticism of Facebook CEO Mark Zuckerberg's less-than-traditional business apparel. Apparently his signature hoodie is an insult to some crusty investors over on Wall Street who like all their monkey men to be dressed in the same uniform.
Zuckerberg, as would be expected, appeared on their IPO roadshow wearing the same hoodie we always see him in. Now we all now he's not hurting for money, so we can only conclude that he's making a statement by sticking to his normal attire. Perhaps he wants investors as well as Facebook fans to get the message that he's not just in it for the money, but truly committed to social networking and the company's mission to connect the world in unique ways.
Check out Bloomberg's video on the "hoodie" debate:
If you remember, yesterday we reported on some fashion accessories Mr. Zuckerberg might want to consider in order to help blend his legendary hoodie persona with that of a more stale, but presentable Wall-Street-type.
The real news here is that investors are more concerned about Facebook's ability to generate revenue than about Zuckerberg's hoodie. More specifically the social networking platform fails to produce advertising growth at the same pace it adds new users. Many experts are already of the opinion that Facebook is grossly overvalued, and in fact, Facebook currently has a value higher than 90% of the Standard & Poor's 500 Index.
The good news is that Facebook still has some valuable opportunities in mobile advertising, and even has about a week to change investors mind about the potential for future growth before the May 18th IPO launch. Either way, they need to do something to convince investors that Facebook is worth the gamble.
Here's some Twitter Reaction to Zuckerberg's Hoodie persona:
Why go with the status quo?who cares? Apparently those at Wall Street!
Why Is Everyone Focused on Zuckerberg's Hoodie? http://t.co/NapWEv2V
So JP Morgan loses $2 billion...but investors complain about Mark Zuckerberg's hoodie. Right....
Zuckerberg arrived at an IPO roadshow in New York today wearing a black hoodie per TV images. Rest of his party in business attire.