Why Facebook's CEO ought to tell Wall Street to Zuck off

Mark Zuckerberg in 2010.

(Credit: James Martin/CNET)

I'm sure Mark Zuckerberg won't lose any sleep about Wall Street's ongoing hissy fit about Facebook -- nor should he. More about that in a moment.

Following the disappointment over the company's second-quarter earnings, Facebook shares fell another 11.7 percent Friday, despite the market-lifting euphoria over the European Central Bank chief's plans to bolster the Euro.

An extreme sell-off, for sure, but not surprising for a stock that's tumbled almost 38 percent since its star-crossed debut on the NASDAQ in May.

Given how this outsize company has infiltrated popular culture, Facebook's fall from grace has also inspired panic. Some see it as a metaphor for the popping of the social-media investment bubble. Then there's the smug second guessing: Weren't we all dummies to ever believe in a company that does so many things so wrong? The chorus of "Zuck must go" has begun.

Zuckerberg never wanted to take the company public in the first place. Circumstances -- mainly in the form ... [Read more]