Open Letter to Meta: Facebook’s Missed Opportunities

  1. Facebook is playing small
  2. VR is a long shot; crypto is impossible to own
  3. Why Facebook should act NOW
  4. Unsolicited Strategy Offering

Facebook is playing small

Facebook is a tech behemoth. Until recently, it was a trillion-dollar company along with Apple, Microsoft, Google, and Amazon. But compared to these other guys, Facebook’s revenue streams are not nearly as diversified. To illustrate;

VR is a long shot; crypto is impossible to own

Facebook had two significant bets so far as a tech behemoth:

  1. VR (via Oculus acquisition)
  2. crypto (led by David Marcus, under multiple names Libra, Diem, etc.)

Why Facebook should act NOW

Facebook should act soon. Not only because:

  • Facebook and Instagram are threatened by younger competitors like Snap and Tiktok, which Facebook can’t snap up as easily as it used to due to monopolistic concerns. This reminds us of the headaches Microsoft experienced in the early 2000s,
  • Whatsapp still can’t manage to turn into a money-making machine, and it is threatened in the most valuable markets of the world directly by Apple’s own iMessage
  • Social networking is a mess to manage,
  • Apple’s latest privacy policies target Facebook directly and threaten ad revenues across the board to decline further,
  1. Apple’s FaceID and TouchID make authentication more frictionless and secure than ever, to a point where Facebook Connect has become obsolete. With the obsolete Facebook Connect, the social graph has also become a thing of the past, and the most valuable social graph in the world is now the one sitting in our phones’ iCloud-synced contact lists.
  2. While they’re still in their infancy, decentralized IDs (aka DIDs) and crypto wallets indicate the potential to dislocate Facebook’s core assets.

Unsolicited Strategy Offering

I will finish this article with an unsolicited strategy offering. This is not the first time I’m doing this. Every time I sat down with Facebook corp dev (did that at least four times so far) as the CEO of Grou.ps, I spiced up my presentation with an unsolicited strategy offering, which ended up being stolen; no, not ignored, so I’m flattered. This is the first time I’m trying in an open letter format, hoping my voice will be heard.

Conclusion

Make no mistake; Facebook has some of the brightest engineers in its ranks, especially in AI. Their deep learning work is impressive, and as a matter of fact, AI is indeed the most promising revolutionary power of this century. So maybe Meta is already working on something that I’m naively unaware of as an outsider. But until then, I short Meta in these troubling times of the markets, particularly for social networking.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Emre Barack Sokullu

Emre Barack Sokullu

🌎 Globetrotter 👨🏻‍💻 Volupta LLC 👨🏻‍💻 RISG Corp 📈 0 to 1 Ventures (Wordpress, H2O.ai, BTC) ⚽️ Galatasaray SK Congressmember