How does Facebook stand to monetize from AI? AWS and Google monetize through their cloud offerings, but Facebook went the library/framework route with PyTorch. That seems like a big question mark if they can capitalize on AI in some form outside of their own internal systems (like ad optimization and general monetization/product improvements, which everyone is doing at the same time).
They have a ton of cash, but can they effectively use it? They are burning a lot of it on VR which isn't catching on the way they envisioned. Facebook is at a point where they are already huge so to maintain 'growth stock' valuations they have to keep delivering quarter over quarter results that move the needle in the billions and billions of dollars. I don't see a compelling case for them to do that based on these pillars.