Speaking at the Web 2.0 Summit in San Francisco on Wednesday, Facebook chief executive Mark Zuckerberg admitted that he had made many mistakes with the social networking site.
"I have made so many mistakes, any mistake you can think of, I've made it," Zuckerberg said.
Those who are building products that people love, however, can afford to make a lot of mistakes, he added.
Speaking at the summit, Zuckerberg also revealed that over 250 million people use the social networking site each day. Innovation and development, he said, are crucial for the development of the site.
"As technology companies get bigger, they tend to get slower and then get replaced by smaller companies. I think about how Facebook can stay fast every day," he added.
His mission is to enable others build social networking services using Facebook's platform, he said. Small-time developers can freely make use of Facebook's offerings, but larger companies must work directly or be locked out, he stressed.
Addressing issues of user privacy and the amount of control Facebook has over each member's data, he only said: "The correct answer is not completely obvious yet".