[dannyw]

FB more or less always had access to capital markets, and they could 100% have borrowed money and dumped billions into mobile. Subsidized, $100 phones that are comparable to flagships (but data-sucking for FB) would have beaten the market.

[bredren]

Yes, but they were not willing to. The environment for risky internet companies at that time was tepid still.

They knew money came from ads and tracking and the web and the other thing did not move the needle.

[lotsofpulp]

Same with Microsoft.