“for all of the company’s travails and controversies over the past few years, [Facebook’s] moats are deeper than ever, its money-making potential not only huge but growing both internally and secularly; to that end, what is perhaps most distressing of all to would-be competitors are in fact this quarter’s results: at the end of the day Facebook took a massive hit by choice; the company is not maximizing the short-term, it is spending the money and suppressing its revenue potential in favor of becoming more impenetrable than ever.“
stratechery.com/2018/facebook-le
Facebook Lenses
Facebook was down dramatically after its last earnings; to decide if it is justified it is worth looking at the company through many different lenses, both financial and strategic.