This feels like something that’s going to fail. He’s making decisions from his ego, not his brain.
Reaction:
"$1 billion for something literally no one uses."
"In 2 years, nobody will remember what instagram was."
Today (April 13th 2022), it is still alive. Somehow under Zuckerberg.
So just like how the decision for Instagram was also a decision that was something that's going to fail. Yeah, I'm going to really write off Meta again due to a couple of HN comments. /s
We'll see in another 10 years then. (April 13th 2032)
In this case Meta has to create a product. They are historically awful at this. FB is just iterating on the initial concept and stealing ideas from other social media platforms. They haven’t done anything novel.
Are we looking for 'real businesses' or true scotsmen in tech giants that have built things from absolute scratch without buying companies now?
Perhaps none of these tech giants have done anything novel since they too have bought too many businesses as well. Even if it includes one by definition. Oh dear.