Facebook CEO Mark Zuckerberg revealed the company’s thinking process around its three, five and ten year strategy in a conference call with analysts to explain the social network’s $2 billion acquisition of Oculus VR.
“[Before] I close, I just want to make one more point. For almost the last year, I’ve framed our strategy as three high-level goals over the next 10 years, connecting everyone, one; two, understanding the world; and three, building the knowledge economy. With this acquisition, now each of those initiatives has an ambitious long-term bet associated with it in addition to our important near-term work as well,” Zuckerberg said on Tuesday.
- The Facebook CEO said the company’s top long-term priority is connecting everyone, and also to make free basic internet available to everyone in the world through its Internet.org initiative. In terms of connecting users, the company’s nearer-term efforts are focused on messaging and growth, Zuckerberg said.
- A second long-term goal, Zuckerberg said, involves “understanding the world” through analytic efforts such as the company’s AI Research Group, which the CEO said “is trying to build a unified model of how every person and thing in the world is connected to each other.” In the nearer term, he said Facebook’s efforts will be focused on Facebook’s search capabilities and the development of its so-called ‘News Feed.’
- Facebook’s third long-term goal centers upon building the knowledge economy by way of future technology platforms. The Oculus VR acquisition falls within that goal, joining Facebook with what Zuckerberg said could be “one of the next important computing platforms.” Of course, as Zuckerberg said, the company will also continue to strengthen its advertising platform, which contributes the bulk of the company’s current revenue and profitability.
“So, with this in place, you should now have a clearer view of what our full strategy looks like over the next 3, 5 and 10 years. I look forward to updating you on our progress in each of these areas during our regular quarterly updates,” Zuckerberg said of the company’s long-term thinking.