Buying a competitor (insta) is the greatest acquisition of all time? Literally just building a moat, not something I’d describe as the best in kind.
The space of what to buy, when to buy it, what to build, etc. etc. is all so easy in hindsight. Instagram was making 0 money and cost 1 billion to acquire -- a large amount at the time. It could have blown up in their face, but it didn't. Then he did it again with Whatsapp. Please stop pretending like things are easy from your sofa.