alt Hacker NewsI do think you have to admire how almost comically insane Zuckerberg is to do stuff like this. If Facebook was being run by someone normal what would happen is it would spend the next 20 years pissing away everything slowly as social media advertising became less and less relevant. But not with Zuckerberg at the helm. He will burn that place to the ground trying to find some way to remain important. Its surprising that people working there apparently thought they weren't going to get burned.
Their advertising revenue grew 33% YoY last earnings call. They're literally making so much money they don't know what to do with it so they plow it into each new fad as to not miss out if this one happens to be a new billion user business. This is in addition to returning capital to shareholders via buybacks and dividends.