Definitely in that bubble.

Main product has tanked. So few people use it extensively now.

Instagram has been absolutely destroyed by tik tok. As that audience grows up, the impact of that colossal defeat will hurt more and more.

Buying another success will be near impossible, and they’ve not created anything significant since the original app. No reason to expect them to successfully build something as difficult as a VR platform.

They’ve had years to fix the above. They haven’t. Whilst that doesn’t matter for their current earnings, the future looks very bleak, especially when the next recession hits and advertising spend plummets.

I do wonder at what point Zuck will step away. I guess sidewards to avoid spooking investors but he’s smart, he knows it’s over.