For Facebook, It's Users First and Profits Later - NYTimes.com

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"“This exposes the strategic fallacy behind Facebook, which was the idea that there was going to be a monopoly on the social graph, and that Facebook was going to own it,” said Keith Rabois, a partner at venture capital firm Khosla Ventures. “That’s not true, and I don’t believe Facebook will constantly be able to buy its way out of this structural challenge.”
For now at least, Facebook can do just that. After a weak first few quarters as a public company, Facebook is solidly profitable. Last month, it reported $523 million in net income on $2.6 billion in revenue for the fourth quarter, and the company can afford to make some expensive mistakes."

For Facebook, It's Users First and Profits Later - NYTimes.com