In the middle of last year my friend Mark Pincus stopped by my office to tell me what he’d been up to. Facebook apps it turned out, of course. He said, “Fred, by this time next year, everything you invest in will be built on top of Facebook”. I cringed. My beloved world wide web eclipsed by Facebook? How could that be?
Six months later, our firm became an investor in Mark’s company, called Zynga Game Network. Currently all of Zynga’s games run inside social networks, largely Facebook,…