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Also it seems a bit odd to suggest Google wouldn't understand mobile advertising value vs desktop.

Google controls the #1 smartphone OS by marketshare and serves mobile ads over Google search products (& GMail now) to a large number of users.

Unless there is an inherently different value for mobile-social ads than just normal mobile/mobile-productivity ads I'm not sure how this would make sense.

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I think the point was native mobile advertising (inside the "feed") vs. just mobile advertising (e.g. banners). Facebook doesn't really have a "banners" equivalent, hence, if Facebook is framing mobile as native advertising, and Google is framing mobile as banner advertising, and the growth rates/click through/ROI on each are different, then he's right that they might value mobile materially differently.

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