Starting a company is never a safe bet. Every step along the way as you build a successful company, you have opportunities to sell. By your logic, you would sell at the first opportunity in the low millions.
Clearly, that wouldn't have been the right move, but it would have been the safe move.
The right way to think about selling a company depends on what your goals are. People are motivated by different things. Some entrepreneurs are motivated mostly by money, some mostly by recognition, and others by being influential/changing the world.
If you go with the money because you're a first time entrepreneur, there's a great chance that Facebook would be your one significant company in life, and you would have bailed out without seeing it to its conclusion. At the end of the day, depending on your personal goals, that might be a failure for you, personally.
Clearly, that wouldn't have been the right move, but it would have been the safe move.
The right way to think about selling a company depends on what your goals are. People are motivated by different things. Some entrepreneurs are motivated mostly by money, some mostly by recognition, and others by being influential/changing the world.
If you go with the money because you're a first time entrepreneur, there's a great chance that Facebook would be your one significant company in life, and you would have bailed out without seeing it to its conclusion. At the end of the day, depending on your personal goals, that might be a failure for you, personally.