Very interesting post. Alarmist, but interesting. Yes, I was wondering about the subsidies going away. And Apple will be in a lurch. Tech moves fast now. My teenage daughter says that her and other teenagers don't use FB very much anymore. They are switching to other communication tools. FB is kind of a one trick pony.
Facebook made the stupid mistake of doing what Aol did, its not building itself a giant moat, facebook is a google wannabe but it can't be google because google is already google.
With google you are competing with "Free" (not really free, you pay with personal data), facebook is also "free" but google has a higher return on the free stuff. Google free gets you (youtube, gmail, maps, search, android ect..) facebook free gets you well not that much.