I view it as an AND&#x2F;OR<p>1)  It dominates advertising for the long future<p>AND<p>(<p>2a) It&#x27;s discount rate (US govt borrowing rate plus a risk premium) is very low<p>OR<p>2b) It finds another way to make money
)<p>Facebook&#x27;s main advantage is a treasure trove of real data about real people, who use their real names.