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When we look at the various crises that Facebook has faced in the past couple of years, people talk about them as failures or breakdowns or meltdowns. In fact, it’s just the opposite. None of these are mistakes—they're fulfillments of a vision.

Facebook intended to connect billions of people. …

When we look at the various crises that Facebook has faced in the past couple of years, people talk about them as failures or breakdowns or meltdowns. In fact, it’s just the opposite. None of these are mistakes—they're fulfillments of a vision.

Facebook intended to connect billions of people. …

That’s the funny part of the tech industry’s narrative about itself. For tech, failure is always assumed to be temporary; for everyone else, it’s terminal. Taxicab companies are going out of business because they’re losing money? Creative destruction, my friend – sink or swim. Uber hemorrhages cash…

The reason is what one VC calls “the repeat business effect”. Sure, a 24-year-old can run his company into the ground – but he’s still a 24-year-old, with time and energy for another startup, and then another. And any one of those could pan out and make everybody fantastically rich. It is, as one f…

[...] The term "lifestyle business," he points out - meaning a business that is designed to keep its owners fed and happy rather than making them brain-meltingly wealthy - is "kind of a pejorative in this world." Because to be reminded of why people normally work is an unwelcome dose of real life, …