I think Facebook (the company) have known that Facebook (the social network) was never going to live forever.
The first pivot was into Photos. A mini pivot, but an important one as being a glorified contact list and blog was on the way out.
Then they saw another competitor rising, so they bought it to ride its lifecycle. Instagram.
Then into Messaging, with messenger and WhatsApp. Most people I know use one or both of these and not Facebook.
There have been other smaller pivots to stay relevant overall, even if any one piece of the business is dying, and I think that’s good business practice.
Whether the meta verse turns out to be the next wave or not is essentially their current bet.
The first pivot was into Photos. A mini pivot, but an important one as being a glorified contact list and blog was on the way out.
Then they saw another competitor rising, so they bought it to ride its lifecycle. Instagram.
Then into Messaging, with messenger and WhatsApp. Most people I know use one or both of these and not Facebook.
There have been other smaller pivots to stay relevant overall, even if any one piece of the business is dying, and I think that’s good business practice.
Whether the meta verse turns out to be the next wave or not is essentially their current bet.