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One could certainly make the argument that Zuckerberg is suffering from a form of business myopia. He's leveraging the main competitive advantage he has, which is the social graph. Perhaps he should think more broadly and take advantage of Facebook's financial resources and intellectual capital. Companies such as Apple and Microsoft thought beyond their narrow set of competencies to become full fledged technology companies. It will be interesting to see if Facebook will move in the same direction.

In all fairness to Zuckerberg, one could also make this argument about Google. While both Google and Facebook dominate their areas because of powerful network effects, nothing lasts forever. Imagine what the Union Pacific Railroad company could have been if they stopped thinking of themselves as a railroad company, and started thinking like a transportation company. It's tempting to stick to riding the one horse you have, but rarely has this worked out long-term in the tech industry.