Zuck Is Stretching His Political Wings

Facebook CEO reportedly starting political advocacy group

   

Facebook (NASDAQ:FB) already has turned into a powerful force in politics, so it should be no surprise that CEO Mark Zuckerberg wants to take things even further.

To this end, Zuckerberg reportedly is putting together an advocacy group that will focus on issues that are vitally important to the tech community, such as immigration and education reform. He hopes to raise $50 million for the effort, which should actually be fairly easy — Zuck can just pass the hat around to his wealthy Silicon Valley friends. LinkedIn’s (NYSE:LNKD) billionaire co-founder, Reid Hoffman, has already pledged millions.

Sure, Zuck’s political foray could ruffle some feathers, but ruffling feathers hasn’t exactly stopped him in the past. However, to help boost the odds of success, it looks like Zuckerberg will take a bipartisan approach. In the past year, he has hosted events with President Obama and Gov. Chris Christie.

No doubt, immigration reform is something that could provide some immediate benefits for tech companies. As most startup founders know, it is extremely tough to find top talent. Besides, immigration has been a key to American’s success in innovation for decades. Just look at the space program, which got many of its top minds from Germany.

Again, Zuck will inevitably stir up some controversy. But with his Facebook platform and wealthy friends, he’s in an ideal position to make immigration a bit easier.

If so, the effort could prove extremely helpful in maintaining the U.S.’s tech dominance.

Tom Taulli runs the InvestorPlace blog IPO Playbook. He is also the author of “How to Create the Next Facebook” and “High-Profit IPO Strategies: Finding Breakout IPOs for Investors and Traders.”Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, http://investorplace.com/ipo-playbook/zuck-is-stretching-his-political-wings/.

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