How can Zuckerberg correct his mistakes?

BANGALORE, INDIA: It has been learnt that Bloomberg has dropped Facebook founder Mark Zuckerberg from the Top 40 richest list. Bloomberg Billionaires Index is a daily ranking of the world's wealthiest.

It's yet another blow to Zuckerberg, whose company went public two weeks ago. While Zuckerberg's fortune was $18.95bn before the Facebook IPO when shares were priced $38. The company's shares hit new lows to $28 this week and valuing Zuckerberg at $14.75bn, according to Guardian.

It can't yet be called the great fall for a giant like Facebook, whose active users are still increasing, but it seems to be imperative to know where Zuckerberg went wrong.

Vivek Wadhwa, a fellow at Stanford’s Rock Center for Corporate Governance, asks in a piece in the Washington Post: "Would the Facebook IPO have bombed if Mark Zuckerberg had an MBA?”

 “Zuckerberg would have better understood the rules of corporate finance and capital markets and the importance of ethics and corporate governance. He might have learned the need to build long-term value and share his company’s financial upside with the public,” he writes.

You can say it is inconsequential as educational qualification has no role in business success. Yes, agreed. So what else could have gone wrong with Facebook?

Technical glitch at Nasdaq on the first day of trading left investors worried as they were clueless on whether they had received the shares. The Securities and Exchange Commission is looking into the glitches at Nasdaq Stock Market on the day of Facebook debut. Here, it has got nothing to do with Zuckerberg, yet investors have no choice but to blame him. 

Investors aren't totally ignorant about such technical problems, which don't occur regularly. Investors are considered to be aware of consequences in the market and not quit in a huff for one such problem.

The first signs of disapproval of Facebook were seen when General Motors decided to pull its ads off Facebook. It wasn't happy with the click-through performance compared to other ads platforms like Google.

General Motors spent about $40 million on its Facebook presence, according to the Wall Street Journal, which first reported GM's plans to drop Facebook ads. There, Facebook might be losing some advertisements to Google.

Later, at the IPO roadshow, Facebook issued a stern warning about its advertising performance among mobile users. "We believe this increased usage of Facebook on mobile devices has contributed to the recent trend of our daily active users (DAUs) increasing more rapidly than the increase in the number of ads delivered," it said.

This way, Facebook exposed its inability to monetize its mobile users. Perhaps that was an early sign of trouble, which went unnoticed.

After all this, it seems Mark Zuckerberg needs some lessons on taking the Facebook profits up as connecting people with their friends isn't a revenue model to improve Facebook revenue.

Should Zuckerberg restructure his planning board? Which are the other options before him? What do you think he should do to improve Facebook prospects? Tell us your views in the comments section below.