Posted on 04/11/2011 12:42:58 PM PDT by Baynative
A panel of federal judges on Monday ruled that Tyler and Cameron Winklevoss can't back out of the settlement deal they made in a lawsuit charging that Mark Zuckerberg stole their idea for Facebook.
Twin brothers Tyler and Cameron Winklevoss claim they enlisted Zuckerberg to finish software code for their ConnectU social-networking website while they were all students at Harvard in 2003.
Zuckerberg, a second year student at the time, took their code and their idea and launched Facebook in February 2004 instead of holding up his end of the deal, according to the brothers. Facebook rejects that account.
Hollywood made the saga famous in the hit film "The Social Network."
The twins inked a settlement two years ago that got them $20 million in cash and $45 million worth of stock valued at $36 per share.
(Excerpt) Read more at breitbart.com ...
I don't want to hear the old expression "It's The Principle" because anyone with Principles and 65 million dollars can .. Get Over It! 8)
The Apocalypse is Upon Us!
At the time of the settlement it was $45 million at $36 per share - 1.25 million shares. Since then the stock has split 4x1 twice and just split again 5x1. Current value is at least an order of magnitude higher than $45 million
Just watched that movie this past weekend. If you believe the movie I guess you could say he stole their idea. He just happened to be alot faster at implementing it than they were. Just like the Napster guy was faster at promoting than Marks friend was and he ended up with the the shares Eduardo should have had. Yeah, they should be happy to get what they did, if it had gone to court they might not have gotten a penny.
dot com
Sorry, the two 4x1 splits were pre settlement. Their stock is only worth a bit over $200 million - poor bastards
The value of that yet-to-be-issued stock has skyrocketed along with Facebook's estimated market value, which was placed at $50 billion early this year, the judges noted in their ruling.
The stock closed at around $33 a share last Friday.
Tyler and Cameron Winklevoss came from piviledge—lived the extended college scene in popularity, and as most know of Zucker if he felt they were in the deserving he would have answered to them further long ago.
Zucker himself lives a modest lifestyle unlike the Winklevoss boys. Zucker was the true creator of FaceBook who from start to finish created “an actual product” with his own genius.
The Winklevoss twins spent their days excelling in atheletics and univerity life:
May 2005, the Winklevoss twins were evicted from an apartment in the Regatta Riverview complex in Cambridge over failure to pay rent, repeated complaints of noisy parties, and over the arrest of Cameron for smashing plates, drawers, and a door with a hammer in a 5AM fit of drunken rage at his brother. The twins retaliated by registering false domain names such as regattaboston.org and regattaboston.net, posting defamatory information, and buying ads from Google to direct traffic to these fabricated sites.The Regatta Riverview filed suit in July 2005, and the twins settled for undisclosed terms within two days.
Pretty much wiki tells it most accurately:
http://en.wikipedia.org/wiki/Cameron_Winklevoss
The twins need to get a life.
If you go back further Tripod with Bo Peabody [Williams College] and friends made the first social network.
http://www.venturevoice.com/2006/01/vv_show_24_bo_peabody_of_villa.html RE:BO
http://www.youtube.com/watch?v=T7NqrekcC4w
Sorry, Facebook And Twitter Will Always Be Lousy Businesses — Bo Peabody
Pigs get fed, hogs get slaughtered.
They settled. That’s the end of it.
Are they going to share with Al Gore? None of this would be possible if he hadn’t invented the internet in the first place.
My take from the movie was that these guys came up with an idea for a dating web site for Harvard students, and Zuckerberg created Facebook instead. He strung these guys along because he wanted to launch first. What it seems like he did was get the germ of an idea for Facebook by thinking about the original idea, and then took it to a more successful level.
The thing I don’t like about Zucker and the guys who created Google are they are all very Leftist yet they make their fortunes as Capitalists.
It just doesn’t compute as Spock would say.
The Apocalypse is Upon Us!
My day just keeps getting worse!
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