Long thread/21
At first, these companies claimed that they were on the verge of eating one another's lunches (Google would destroy Facebook with G+; Facebook would do the same to Youtube with the "pivot to video").
This has a real advantage in that one need not speculate about the potential value of Facebook's market - you only have to look at Facebook's quarterly reports.
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Long thread/22
But the downside is that Facebook has its own ideas about whether Google is going to absorb its market, and they are prone to forcefully make the case that this won't happen.
After a few tumultuous years, tech giants switched to promoting growth via speculative new markets - metaverse, web3, crypto, blockchain, etc. Speculative new markets are *speculative*, and the weakness of that is that no one can say how big those markets might be.
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