> Facebook has demonstrated they have vision and the ability to execute and adapt. I'm a former attorney who worked in the investment industry and one of the s

> Facebook has demonstrated they have vision and the ability to execute and adapt. I'm a former attorney who worked in the investment industry and one of the shitty things I had to do when I first got out of law school was review footnotes on marketing material. In that industry there is one footnote that is basically the gospel: "Past performance not indicative of future results." Has Facebook demonstrated their vision and ability to adapt? Absolutely. So did Kodak, Sears, and Apple. Though Apple managed a turn-around they certainly had a point where they very likely would have gone the way of Sears until they brought Jobs back. Prior ability to innovate and execute means nothing. The important thing is continuing innovation. What the company is doing _right now_ is orders of magnitude more important than the longest track record of success. If anything, I think innovation becomes more difficult the bigger a company gets and the higher customer and investor expectations get.