This is an extremely well written article and is very thought provoking, but Hughes doesn’t really address the biggest problem FB has. All of its problems lie squarely at the feet of one guy. Moreover, there is a school of thought that the long term future of FB is bleak, mainly because the younger generations are going elsewhere.
Back to the one guy, and everyone but Z knows who the one guy is. Z is a brilliant guy, but there are plenty of brilliant folks who simply are not good CEO’s. Z has become a megalomaniac and is not capable of being a high level CEO. So far, FB has become successful in spite of itself.
You can bet that Congress has its eyes on Z and others, like Musk. I am typically not in favor of government intervention in companies, but there are times when the actions or inactions of leaders of companies provoke Congress into action. Z and Musk are going down that road, for sure.