Earlier quoted context omitted.
I think it's as you said, corporations didn't recognize the economic value of chat platforms back then. I think they were mostly focused on "Web 2.0" stuff so they probably tried putting all of their resources into that. You often see companies axe perfectly good business units just because they have a slightly lower margin or contribution to overall revenue, as they think putting the people from those units into the…
I see Google also axing small winners in order to have people working on big bets . Undermining and then axing Orkut and then trying to create Google+ never made sense to me. A lot of non-brazilians non-indians (that didn’t use or even knew Orkut) defended the decision at the time, but I think history showed it was a bad bet.
I'm pretty sure they're going to have to write off the whatsapp investment. At least Instagram has a viable standalone business model. They'll lose the Whatsapp userbase at the drop of a hat, and it's already hard to monetize to begin with.