Despite Facebook's disappointing Q2 earnings, its moats are deeper than ever and its money-making potential is not only huge but growing (Ben Thompson/Stratechery)

Ben Thompson / Stratechery:
Despite Facebook's disappointing Q2 earnings, its moats are deeper than ever and its money-making potential is not only huge but growing  —  While I was mostly unplugged on my vacation last week, with the news of Facebook's disappointing earnings report and subsequent stock decline …

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