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Isn't that exactly OP's point? FB might have counterfactually opted to bury Instagram rather than drop tres comas buying it. Conceivably this could have cost x
by hyperbovine 8y ago
Isn't that exactly OP's point? FB might have counterfactually opted to bury Instagram rather than drop tres comas buying it. Conceivably this could have cost x < $1b. In that world, Zuck is a fool for wasting $1b - x dollars, rather than the one we live in where he's hailed as a visionary for making $99b off the deal.
- mac01021 8y agoCould FB sell now for ~100B and then still proceed to bury it for $x?
- hyperbovine 8y agoIf you believe that markets are efficient (+ the $100b figure, no idea who made that up), no.