FB and Twitter are starting to be used as login entry points to many 3rd party websites and it looks they’ll penetrate further into that market. There are a lot of micro fees that FB is going to be looking to collect on in the future.
Your exactly correct.
Imagine if FB charged the 3rd party websites .01 cent for each time a user authenticated with the FB service for their website. I would imagine an easy $1B per year right there.
The Stock generated over $100B for Facebook... Now imagine with $100B in the back what kind of company FB could aquire? A Telecom maybe? or a Cable company? They could buy another tech company like Amazon if they desired.
I think FB will morph into something other than a social networking site, just as Google morphed into something more than a Yahoo clone / search engine.
Buying FB stock right now is a bet that what they morph into is going to be successful.