Facebook's Specific Success Masks General Failure

Facebook is the iconic Silicon Valley company of the, of the last decade. It's probably worth about as much as all the other businesses started in Silicon Valley combined since 2000. And so Facebook will not solve all the world's problems, but it may still be a great business. We shouldn't turn Facebook into a scapegoat for the lack of innovation elsewhere. But the challenge is that there are so few other companies like this being built in general.