Poor Winklevoss Twins Get Only $65 Million

If you haven’t been keeping up with the news since Facebook emerged and changed life as we know it and/or did not see The Social Network let me explain who the Winklevoss twins are.  They went to school with Mark Zuckerberg at Harvard and they came up with an idea to launch a dating site for their campus.  Since they didn’t have any knowledge of how to write the technical code necessary to run such a website they hired Mark for the job.  What did Mark do?  The same thing that many successful business people have done.  He saw a somewhat decent idea, tweaked some of the details, and threw his own name on it.  BOOM, Facebook was born.
Ever since Facebook took over the world, we have been hearing about the twins accusing Zuckerberg of stealing their idea and trying to get more money out of it.  They initially came to a settlement of $65 million.  That’s a ridiculous amount of money even when split between the two of them.  Was that enough?  No.  They attempted to rescind the settlement because they said it was “unfair.”  Granted, when you compare that to the worth of Facebook which is estimated at $50 billion, that amounts to pennies.  But being paid $65 million because you had an idea for a website?  Shut up and take the deal. Even they had to think site would have failed since they didn’t care enough to actually launch the thing. 
Finally, judges said enough is enough and litigation must came to an end on this issue.  I wish I could say something witty to shove this in the twin’s faces, but they’re still walking away with more money than I could ever imagine.

Posted on April 11, 2011, in News. Bookmark the permalink. Leave a comment.

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