If you bought Facebook at IPO and held, you would have made only 171% gains

While 171% is really impressive, it's virtually the same as S&P500's 179% gain over the same period.

The 171% is factoring in the -19% loss after hours today.

It seems insane that Facebook couldn't beat S&P500 over the same period of time. It's one of the biggest success stories in tech ever. I'm actually astonished.

Question for you old folks: Are there examples of big companies in the past that tried to pour so much money into growing a new market as Meta has into VR/AR? Were they successful or did they destroy themselves?