Meta is still a 600B company and large credit goes to Zukerberg. His insight into jumping to mobile at the very beginning, making critical acquisitions, relentlessly going to new geographies, investment in AI all played off. Every major company made mistake including Google ( Google Plus ), Microsoft ( Windows phone ) and apple ( entire 90s ). A company making mistake just means they are still taking risks and not sa…
Their focus on making Facebook for mobile platforms was smart, their efforts to make a mobile phone were late and substandard. By critical acquisitions I assume you mean Instagram and WhatsApp. Both were anti-competitive attempts to stave off becoming the next MySpace (but also successful). Everything else on the list of acquisitions looks like gambles that did not pay off. https://en.wikipedia.org/wiki/List_of_merge…
Meta was in its infancy when the mobile hardware revolution was happening. Do you really think they stood a chance of creating their own hardware platform while simultaneously adapting their existing software platform to the new paradigm? According to a google search they had 850 employees in 2008. Apple had 32000.
> It's not that they are speculating on a moonshot, it's that they are wasting so much of their money on a single moonshot
And yet Google is constantly trounced on this very site for never committing and constantly shutting down promising products. Armchair critics will never be satisfied and Zuck is wise to ignore them.