Their focus on making Facebook for mobile platforms was smart, their efforts to make a mobile phone were late and substandard. By critical acquisitions I assume you mean Instagram and WhatsApp. Both were anti-competitive attempts to stave off becoming the next MySpace (but also successful). Everything else on the list of acquisitions looks like gambles that did not pay off.
Google, Microsoft, and Apple have never bet such a huge chunk of their spending on a single tech that has been so resoundingly mocked. The amount Meta is spending on VR makes the Windows phone look like a drop in the bucket. It's not that they are speculating on a moonshot, it's that they are wasting so much of their money on a single moonshot.
https://en.wikipedia.org/wiki/List_of_mergers_and_acquisitio...
Google, Microsoft, and Apple have never bet such a huge chunk of their spending on a single tech that has been so resoundingly mocked. The amount Meta is spending on VR makes the Windows phone look like a drop in the bucket. It's not that they are speculating on a moonshot, it's that they are wasting so much of their money on a single moonshot.