Protip: don't have kids.

Advice your parents could have used...

why did facebook need all that money from the IPO anyway?

Not clear that they needed the IPO money. I think they had to have an IPO due to SEC regulations.

http://www.pehub.com/146588/the-%E2%80%9Cfacebook-problem%E2...

As a private company there is a 500 shareholder limit. This made it difficult to use stocks to 'incentivize' employees.

The second argument I've heard is that it allowed Zuckerberg and some of his closer companions to cash out a large chunk of cash for the first time.

Facebook itself did not need money to my knowledge

And presumably you have heard of every single person in the entire world?

Judging by your comment history you are also familiar with every single school in the whole world.

... and how long exactly did you work at Yahoo?

He has worked for only a year there.

Yes but this channels a lot of what other people told me and some of them have spent over a decade there.

startup in puerto rico? wow nice