The great hope of the Valley, the startup everyone thought was the next Google, the company whose IPO might restart the stock-market gold rush for everyone, is not well. Why? Look to its founder. Mark Zuckerberg is mismanaging his creation's transition to greatness. In Facebook's own parlance, the company's plight is…

When he announced his cofounder and college roommate Dustin Moskovitz's departure from Facebook, CEO Mark Zuckerberg didn't say what he would be up to. But in a separate email leaked to Valleywag, Moskovitz hints at his plan: With fellow engineer Justin Rosenstein, who's also leaving the company, he hopes to create…

CEO Mark Zuckerberg has just informed Facebook's staff that his long-restive cofounder, Dustin Moskovitz, is leaving the company. Adding to the blow: Moskovitz, left, is taking with him Justin Rosenstein, right, a top engineer who was one of the first employees Facebook poached from Google as it began its tumultuous…