SYDNEY: Apple co-founder Steve Wozniak has warned Mark Zuckerberg about the dangers of going public as Facebook counts down to its eagerly awaited share offering.
The world’s leading social network is expected to start trading on the tech-heavy Nasdaq on Friday, although the timetable has not been confirmed.
Apple went public in 1980 and Wozniak, who is visiting Australia, said being exposed to the demands of shareholders was a tough lesson.
“All of a sudden you have shareholders that are directing the company and demanding answers and getting upset if things aren’t going as well as they hoped,” he told the Australian Financial Review on Tuesday.
“Once you go post-IPO, all of a sudden Mark Zuckerberg can be more at the mercy of the owners.