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Facebook has not produced internal innovations after Facebook. After that everything has been either incremental improvements or acquisitions.
This goes for almost all tech companies.
Sad but true -- I'm still convinced most tech companies could fire 90% of their staff, solely focus on whatever their original core product was, and their revenue would be negligibly affected.
The thing with internal innovations are… well they’re internal. A good portion of their R&D goes into things that aren’t public facing. Facebook is in the metadata business after all, so they have incredible pipelines for that. But culture-wise, they do have a habit of killing projects that are far along for no reason
The Oculus Quest is quite remarkable, and the remarkable features have been developed internally well after Oculus was acquired.
Any chance this scuttles long term plans that Meta has with Oculus and they sell it? I'd love to get one, but not willing to have a Facebook account.