[input_sh]

> ...about what exactly their core product is.

It's ads. They have an infinite money glitch called ads, allowing them to waste billions chasing other pipe dreams. The fact that so many of those pipe dreams turned into nothing doesn't hurt them one bit.

[tsukikage]

It's how venture capital works: the theory is that you invest in a dozen pie-in-the-sky pipedreams, almost all of them fail, and the one that doesn't pays for the rest. If you're not failing most of the time, you're not taking on enough risk.

[AdamN]

Yeah they're a media conglomerate and their customers are advertisers. They have unstoppable traction with Instagram and Whatsapp and a legacy model with Facebook. There really isn't much more to it except that they need to keep trying new things in case those properties get taken down by a competitor.