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Not true, they bought the growing competition -- in the case of Instagram, digital crack cocaine.

Right because Facebook was such a miserable failure before those acquisitions.

It was a failure at acquiring young users.

Are you familiar with the origins of Facebook?

Yes. And they were petrified of becoming not cool/population aging out/etc from day one.

Which some extent, it has. My 14 year old describes Facebook as "the app for boomers."

If you knew Facebook people, they were super super scared. They literally bought those apps out of pure fear.

Instagram today is effectively a totally different app than what they bought.