Obama, Zuckerberg promote entrepreneurship at Stanford - CNET

Earlier in the week, the administration unveiled a pledge by high-profile tech companies, including Airbnb and Lyft, to improve the diversity of their staff. The administration also expanded a program for sharing govement research data with entrepreneurs and streamlining rules for starting new companies.

Obama referenced the diversity initiative, called the Tech Inclusion Pledge, in opening remarks, saying it would help the industry, which is predominately white and male, look more like the country.

"We're very happy for the commitments [the companies] made," he said. "So give them a round of applause."

Zuckerberg shared his own experiences in creating Facebook, which now has 1.65 billion monthly active users around the world, with the younger entrepreneurs.

"To me entrepreneurship is about creating change, not creating companies," he said. He added that he "cared deeply about giving everyone a voice."

On the panel was Egyptian entrepreneur Mai Medhat, CEO and co-founder of Eventtus, an app for event organizers. When the issue of coectivity was raised, she talked about Facebook's role as a communications tool during the Egyptian revolution.

"We created a revolution out of Facebook."

Earlier in the conference, the cast of HBO's Silicon Valley entertained the audience, focusing on a young boy who had written four apps, including three designed to help people avoid littering.

T.J. Miller, one of the stars, admitted he had been "intimidated by an 11-year-old."

Obama said that he had been in touch with UK Prime Minister David Cameron and German Chancellor Angela Merkel to discuss the British vote yesterday to leave the European Union. He said he was confident the British exit, known as Brexit, would be handled in an orderly maer.

Obama and Zuck first coected in 2008, when during the presidential campaign. At the time, Obama was breaking ground in leveraging the social network to attract potential voters and donations. Facebook cofounder Chris Hughes, then 24 years old, joined Obama's election efforts and was credited with mobilizing thousands of supporters.