It's current enterprise value is only part of the story - and as we all know a valuable company today can entirely disappear in the future if it is sufficiently

It's current enterprise value is only part of the story - and as we all know a valuable company today can entirely disappear in the future if it is sufficiently mismanaged. Vendor lock in was the favorite tool of IBM and Oracle. Things certainly change no matter how dominant a company can appear at a moment in time. Doubly so with social media with fickle users and generational opportunities with younger cohorts replacing and redefining usage patterns. Yes, Facebook has by all accounts a commanding position, except competitors are demolishing it with younger demographics in key bellwether regions, and there are many concerning aspects about it's recent growth prospects. Facebook holds the record for the biggest single day market cap evaporation in stock market history (and also the record for second biggest). They are closer to their pre-WhatsApp market cap today then they are to their previous peak. We'll see.