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Tumblr could easily have been Instagram, Yahoo just had no idea what to do with it and completely missed the boat on mobile.

A lot of people thought Zuck was insane when he paid $1B for Instagram, and I think we'd all agree that bet paid off pretty handsomely.

Tumblr was dead the second they turned porn off. Simple as that sadly.

How did they monetize it? I've worked in digital advertising and I can't imagine the adult content would get the same CPMs as general interest.

Did Instagram avoid that fate by never allowing porn in the first place?

Instagram has porn.

It just blocks some body parts.