In the first iteration of Facebook, you could only upload one picture. Users kept changing the photo.
Photo-tagging emerged as one of the first most important features — built quickly as part of Facebook's "hacker" spirit.
Facebook's mission is to make the world more connected, Zuckerberg says. Connected to big things and little things happening around you.
The social graph has always existed, but there was never a map. That was the concept for the Facebook Open Graph, connecting all Facebook users, Zuckerberg says.
Facebook helps you share what's happening around you. Timeline and News Feed are the most important components of that.
"Your life is an amazing story, and people would be interested if you told it."
Billions of people are projecting their stories into the world thanks to the News Feed, and it's growing at an exponentially increasing rate.
The news feed is a personalized newspaper that's constantly updating, Chris Cox says.
There are 125 billion friendships on Facebook...
...2 billion likes per day...
...1 billion comments per day...
...900 million members visiting every month...
...525 million users visiting every day...
...and 488 million mobile users.
"We always assumed the platform would be greater than anything we could ever build," Zuckerberg says.
The platform lets other sites — like the New York Times — tie into Facebook. This example gives the New York Times website a Recommend button.
You can use the platform to log into other services and connect to friends on other services, too.
Games were the first product that really used the platform best, Zuckerberg says.
The Open Graph is the next evolution of Platform — it shares interactions with other services on Facebook.
The Guardian saw a 400 percent increase in traffic overnight after connecting to Facebook's Open Graph.
Facebook wasn't a business back then, but it needed to be one soon enough. That's where advertising comes in.
Here's Sheryl Sandberg, talking about how Facebook can connect users with brands as a way to promote business.
Facebook gives brands a way to communicate directly with consumers and fans. Having others talk about Ben and Jerry's is core to the company's strategy, says its CEO.
For every dollar spend marketing on Facebook, Ben & Jerry's picked up $3 in revenue.
The global marketing spend is enormous, but web-based marketing is still small. Facebook will change that, Sandberg says.
Here are the four things that will help Facebook change that.
Facebook's audience is MASSIVE...
...its ads are incredibly accurate...
...Facebook is a more engaging platform...
...and it's word-of-mouth scale on the web for the first time.
Social context boosts advertising recall by a lot...
.and sponsored stories are a core part of the product Facebook offers.
All of the top advertisers in the world are on Facebook. 3.2 million small businesses have an actively managed Facebook page, too.
The potential for small businesses is enormous.
Facebook's advertising revenue has grown significantly since 2008.
Facebook's number of users have skyrocketed, too.
The penetration for some countries across the world is huge...
...and still a huge chunk in most first-world countries.
Some countries still need a little bit of work, though.
Here's the breakdown for Facebook's revenue. It's split between advertising and payments.
Here's how Facebook makes money off its advertising.
Users in the U.S. and Canada account for most of Facebook's advertising revenue.
Payments is the other part of Facebook's revenue. It's growing even faster than advertising.
Facebook has increased its head count by a lot, but it's going to be careful in the future about hiring, Ebersman says.
Facebook still considers itself in a high-growth phase, so it's going to be making a lot of investments in growth.
Facebook actually makes a good amount of money.
In 5 years, almost every app you use will be integrated with Facebook in some way. It's a symbiotic relationship, Zuckerberg says.
