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Twins’ Facebook Fight Rages On

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http://www.nytimes.com/2010/12/31/business/31twins.html?_r=1&ref=business

Some people go to court hoping to win millions of dollars. Tyler and Cameron Winklevoss have already won tens of millions. But six years into a legal feud with Facebook, they want to give it back — for a chance to get more.

The Winklevosses — identical twins and Harvard graduates — say that they, along with another Harvard student, Divya Narendra, had the original idea for Facebook, and that Mark Zuckerberg stole it. They sued Facebook and Mr. Zuckerberg in 2004, and settled four years later for $20 million in cash and $45 million in Facebook shares.

They have been trying to undo that settlement since, saying they were misled on the value of the deal. But it has not been an easy decision.

As recently as Thursday, the brothers considered dropping their effort to unwind the agreement, and went as far as drafting a statement to that effect, according to people close to the case. They decided, though, to keep fighting.

Their argument is that Facebook deceived them about the value of the shares, leaving them with far less than they had agreed. Whatever their value at the time of the deal, Facebook’s shares have soared since, putting the current worth of the settlement, by some estimates, at more than $140 million.

Next month, the twins and Mr. Narendra plan to ask a federal appeals court in San Francisco to undo the deal so they can pursue their original case against Facebook and Mr. Zuckerberg, and win a richer payday. They could, though, lose it all.

Still, they say it’s not about the money, it’s about the principle — and vindication.

“The principle is that they didn’t fight fair,” said Tyler Winklevoss during an interview at a pub here recently. “The principle is that Mark stole the idea.”

His brother, Cameron, chimed in, “What we agreed to is not what we got.”

Facebook denies it did anything improper and says the Winklevosses simply suffer from a case of “settlers remorse.”

To make matters more complicated, the twins are also at war with the lawyers who helped them win the settlement. The brothers fired them, accused them of malpractice and refused to pay them. A judge recently found for the lawyers, and ordered the twins to pay the 20 percent contingency fee, or $13 million. For now, the money and shares remain in an escrow account.

I'm sure it's not about the money... Considering the Uni they went too I would assume these are very bright people so they must have had some idea about the value could be and realise that in the future the value could be a lot more.

Vindictiveness can destroy you and I can imagine these people just blowing all the money on legal fees and losing the lot.

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identical twins and Harvard graduates — say that they, along with another Harvard student, Divya Narendra, had the original idea for Facebook

Lies. I had the original idea for Facebook. And there lies the problem. Facebook was not an idea, rather it was a development. There were lots of such things going way back. The whole point of the net was to allow communication. They may well, in their ignorance, have thought it themselves. However that does not mean thousands of others thought of it too.

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Lies. I had the original idea for Facebook. And there lies the problem. Facebook was not an idea, rather it was a development. There were lots of such things going way back. The whole point of the net was to allow communication. They may well, in their ignorance, have thought it themselves. However that does not mean thousands of others thought of it too.

According to the wikipedia account they were well into the development of the system. Their programmer took another job so they took Zuckerberg on and he agreed to work on their code. A month or two after getting access he launched facebook.

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According to the wikipedia account they were well into the development of the system. Their programmer took another job so they took Zuckerberg on and he agreed to work on their code. A month or two after getting access he launched facebook.

Fair enough , they have more right to sue than most people nowdays.

But 165 million should be enough for anyone.

I'd like to see these two give it back and then lose the retrial and have to pay the facebook guy costs.

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According to the wikipedia account they were well into the development of the system. Their programmer took another job so they took Zuckerberg on and he agreed to work on their code. A month or two after getting access he launched facebook.

I would not trust Zuckerman with anything.

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I would not trust Zuckerman with anything.

Mmm. If he maliciously stole some of their code, and the idea, as it appears from the released IM between him and a friend, I hope Zuck gets f***** by these two.

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Mmm. If he maliciously stole some of their code, and the idea, as it appears from the released IM between him and a friend, I hope Zuck gets f***** by these two.

Just like in Jarndyce and Jarndyce the lawyers will be laughing at the end of it.

"

We asked a gentleman by us if he knew what cause was on. He told us Jarndyce and Jarndyce. We asked him if he knew what was doing in it. He said really, no he did not, nobody ever did, but as well as he could make out, it was over. Over for the day? we asked him. No, he said, over for good. Over for good! When we heard this unaccountable answer, we looked at one another quite lost in amazement. Could it be possible that the will had set things right at last and that Richard and Ada were going to be rich? It seemed too good to be true. Alas it was! Our suspense was short, for a break-up soon took place in the crowd, and the people came streaming out looking flushed and hot and bringing a quantity of bad air with them. Still they were all exceedingly amused and were more like people coming out from a farce or a juggler than from a court of justice. We stood aside, watching for any countenance we knew, and presently great bundles of paper began to be carried out--bundles in bags, bundles too large to be got into any bags, immense masses of papers of all shapes and no shapes, which the bearers staggered under, and threw down for the time being, anyhow, on the Hall pavement, while they went back to bring out more. Even these clerks were laughing. We glanced at the papers, and seeing Jarndyce and Jarndyce everywhere, asked an official-looking person who was standing in the midst of them whether the cause was over. Yes, he said, it was all up with it at last, and burst out laughing too.
"Mr. Kenge," said Allan, appearing enlightened all in a moment. "Excuse me, our time presses. Do I understand that the whole estate is found to have been absorbed in costs?" "Hem! I believe so," returned Mr. Kenge. "Mr. Vholes, what do YOU say?" "I believe so," said Mr. Vholes. "And that thus the suit lapses and melts away?" "Probably," returned Mr. Kenge. "Mr. Vholes?" "Probably," said Mr. Vholes."

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Lies. I had the original idea for Facebook. And there lies the problem. Facebook was not an idea, rather it was a development. There were lots of such things going way back. The whole point of the net was to allow communication. They may well, in their ignorance, have thought it themselves. However that does not mean thousands of others thought of it too.

How true!

Back in 1995 I remember along with Ste thinking up USB pen drives. Namely because we would travel to college (on the bus at the time) and would be bringing in gym bags packed to the brim with floppy discs. Mac had a ZIP drive though and how we hated him for it. We had some funny turns whereby we would download something which required 500 or so floppies and split them with FDsplit. Almost invariably several of the discs would be corrupted on the way home. So we used to copy them TWICE. And we would always wish there was some kind of device you could plug into a PC for such an effect.

Since USB didn't exist yet our idea was based on a tethered floppy disc IDE interface with a hard drive, like how some people use cassessette adaptors and their Ipods.

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How true!

Back in 1995 I remember along with Ste thinking up USB pen drives. Namely because we would travel to college (on the bus at the time) and would be bringing in gym bags packed to the brim with floppy discs. Mac had a ZIP drive though and how we hated him for it. We had some funny turns whereby we would download something which required 500 or so floppies and split them with FDsplit. Almost invariably several of the discs would be corrupted on the way home. So we used to copy them TWICE. And we would always wish there was some kind of device you could plug into a PC for such an effect.

Since USB didn't exist yet our idea was based on a tethered floppy disc IDE interface with a hard drive, like how some people use cassessette adaptors and their Ipods.

USB was already heavily in development by 1995, though, and the mass storage class device specification (basically external hard drives and flash drives) came along with the USB 1.0 standard when it was published in 1996. It was another few years before those devices were on the market and we were all using them, but the concept was there.

That's always the problem, isn't it - whatever idea you come up with, it's more likely than not that someone came up with the same idea 20 years ago, and has been actively working on it ever since. That's my excuse, anyway.

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I don't know all the ins and out of the Facebook story but these guys seem like a joke. As I understand it they wanted Zuckerberg to make a simple directory-style social network for Harvard. But he didn't, he did his own thing and made Facebook. Neither Zuckerberg or these clowns invented 'social networking' and several sites already had traction including MySpace and Friendster. It seems other than their idea of a Harvard-wide student directory (is that even copyrightable? Copyright requires creative input, which is why phone listings aren't copyrighted), they had no idea at all.

It's just a weakness of the US legal system that people can be a enough of a gadfly with their team of lawyers that they can get millions in pay-offs. There are thousands of patent trolls with dumb claims on popular products that have no intention of using any of their so-called 'intellectual property'.

As Steve Jobs once said: 'Real artists ship.'

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According to the wikipedia account they were well into the development of the system. Their programmer took another job so they took Zuckerberg on and he agreed to work on their code. A month or two after getting access he launched facebook.

Sounds a bit like Bill Gates and DOS - another case that settled and led to settler's remorse.

http://en.wikipedia.org/wiki/Gary_Kildall

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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