Some embarrassingly very ignorant statements here by Greenspan. > a company that was out of users in 2012 managed to find a wellspring of nearly infinite and s

Some embarrassingly very ignorant statements here by Greenspan. > a company that was out of users in 2012 managed to find a wellspring of nearly infinite and sustained growth that has lasted it, so far, half of the way through 2019. So what is that magical ingredient, that secret sauce, that “genius” trade secret, that turned an over-funded money-losing startup into one of America’s greatest business success stories? Facebook has been wildly profitable since approximately the end of 2008. Five years after its founding, in 2009 - long before Greenspan's setup premise - they turned a $229m profit on $777m in sales. For fiscal 2011 that was a billion in profit. Any start-up in world history would be envious of that extreme profitability so early into existence. In terms of millions of daily active users or users in general, Facebook wasn't suffering in terms of growth in 2012 or 2013. Greenspan is flat-out lying here. They went from 483 million daily active users at the end of 2011, to 665 million at the end of 1Q13. They added 135m daily actives in 2012, 28% DAU growth after eight or nine years. A strong number given their immense size at that point.