Whereas tinder, instagram, and others value add is from their content, the value of Facebook (the platform) has always been the network.
Facebook as a company has always been chasing after content. This is because content has a direct and clear monetization strategy whereas helping people make use of their network is difficult to make money from. Well, it shows - $40bn in revenue, 80% of it in ads.
Helping people to use their network effectively is basically charity work to Facebook. How are you going to at-scale monetize that out? The answer: you don't.
But with some irony, after chasing content for over a decade, I think Facebook is now in a position to do some charity work. Similar to Google, who saturated their ad team's return on value and has it's employees working on moonshots all day, Facebook can now afford to sit on their content engines and attack problem spaces that are harder to monetize and solve but provide more meaningful value.
Long story short, I think it's the right time for Facebook's hayday to sneak up on us because it can quietly focus on adding real value via our networks without chasing after money from them.
I really like the idea of Facebook Dating, because 1) it already has the network and doesn't need to build it, and 2) it doesn't need to make money.
Most dating apps suffer under the pressure to make money and grow. For a dating app to grow it has to focus on building cohesive user bases that find value in each other and eventually creates its own ecosystems that damages the experience for others (i.e. hookup culture). While Facebook Dating might still have some of that, I could see it ending up as a more serious dating platform because it doesn't need to focus on user growth.
How would you monetize Marketplace? Facebook Dating? The answer is: you don't care that much, throw some ads on it and let it cover costs. 7-8 years ago when people were searching for Facebook's killer money printing machine, these projects would have a lot of pressure to make a lot of money. Nowadays, sheltered by the content engine that Facebook has amassed, these projects can focus on providing immediate and strong value through Facebook's core benefit (it's network) and hold off on how to make money for a couple of years.
Sounds familiar? It sounds a lot like Gmail.