I agree. What I am curious about is what happens when the competitors are destroyed? Is there a business to keep it sustainable? With Twitter, it's admittedl

I agree. What I am curious about is what happens when the competitors are destroyed? Is there a business to keep it sustainable? With Twitter, it's admittedly a bit easier to fathom than it would be for Instagram (at least for me). But I've never been able to find an answer for this question for this type of argument. What we're talking about is how to value a company's ability to destroy another company's value, not how to value a company's ability to create value. That's like the business of assassination. Assassins can say what their price is to kill someone. If you took that business away, and that was their only way to demonstrate worth, then what do they have left? They'd have to get into a completely different business to continue life. So if Twitter succeeds in assassinating Facebook's value, or even the entire company (unlikely, but let's just follow the line of thought to its logical end), what next? Where's their value going to come from next? If there was valid income generation that can simply take the place of Facebook (or anything else Twitter destroys), why couldn't that value have been measured already? Or if it is measured already, is it just like how the Internet has caused the music industry to earn digital pennies instead of the past's analog dollars? That kind of sucks overall from a valuation perspective. But at least you killed the giant! As General James Mattis once commented on military strategy and foreign policy following lessons from Afghanistan and Iraq: "You invade a country, pull down a statue, then say 'now what do we do?'"