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What facebook has that none of the others do not is a value almost like infrastructure. They ARE your online identity in a way that pinterest/snap/twitter are not. Wechat is comparable (probably even more than FB) but only in China.

What FB has been able to do is smooth out those up and down waves by acquiring challengers (Insta/Whatsapp). They tried to buy snap too but when that didn't work they just copied features and now also copying TikTok.

So I don't think they're subject to those equalising forces as has been the case previously (and which do still affect everyone else - RIP Vine).




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