They want to be Google, or at least what Google used to be. But the reality is that they have only ever built and launched one successful product on their own:

They want to be Google, or at least what Google used to be. But the reality is that they have only ever built and launched one successful product on their own: Facebook. Everything else is either acquired or has been a huge failure. They probably have some talented people stashed away somewhere, but it's pretty obvious that they are completely unable to leverage that talent to produce anything worthwhile at this point. Their strategic direction has also been a mess for years, but that is easy to ignore as long as your cash cows are still printing money.