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What lesson would that be? Facebook is hugely successful.
Facebook is always there for people but it is not the talk of the town any more. A decade ago you could have everyone on it for their entire lunchbreaks, deep-stalking their mates. But nowadays people are not engaged with it compulsively. Younger people don't use it because their parents are on it. Content isn't made by people for Facebook because it won't show in their friends feeds. Advertisers that are small to me…
The only thing I disagree with is that Facebook does make big profits from its ads, in fact it does a tough competition to google and amazon... the rest of your arguments seem correct to me... facebook doesn't feel like the home that it was before... it feels more like a newspaper, full of ads, debates, news and toxic people