I don't totally disagree but I think you understate the level of competence needed to integrate and make successful the acquisitions. And they navigated the valley of death from desktop to mobile. And Threads is an interesting example everyone ignores that is 100% in-house and has actually established a strong user base. At very least, Meta has avoided the fate of so many others that came before - Yahoo, MySpace, etc and in part that is because Zuck made big bets at the right time that many people thought were insane (buying WhatsApp, Instagram etc).
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