But some companies actually come out of that, especially when they've built valuable assets. It took a long time before it seemed like Facebook could be turned

But some companies actually come out of that, especially when they've built valuable assets. It took a long time before it seemed like Facebook could be turned into a profitable business from being a plaything. But the fact that they were sitting on this growing social graph gave people enough faith to believe it might be worthwhile to give them some more rope. At least that's the way I see it -- maybe they started monetizing effectively earlier than I recall.