Meta has no browser. No mobile phone OS. No big email userbase (where the valuable business stuff is sent, not the "zomg lulz cats pictures"). I think Apple, Microsoft and Google are all way better positioned than Meta.
> Near-total dominance of social networking, chat, mobile ads, and now AI.
Social networking, OK. Although LinkedIn is MS and, once again, that's where the real juicy stuff is. Mobile ads: dunno, maybe. But around me everybody has Telegram (EU here and it's not the first country in the EU where I notice that). Telegram is growing quickly: 800 MAU. AI: I know Meta just ordered a shitload of big stuff from NVidia, for billions and billions... But it seems to me OpenAI is still ahead. Is Meta even ahead of Mistral/Mixtral? (a tiny company with a mere 300 million EUR in funding).
That said I did buy Meta at around $100 when the tech crash happened. I hate Meta, but now the Zuck is working for me ; )