Amendment No. 4 to Facebook’s S-1:
We believe that mobile usage of Facebook is critical to maintaining user growth and engagement over the long term, and we are actively seeking to grow mobile usage, although such usage does not currently directly generate any meaningful revenue.
That’s amazing to me. When I think about the amount of time people spend of Facebook’s iPhone app and then think that they don’t “directly generate any meaningful revenue” from that time. Wow. This is a major issue for Facebook because I don’t see the trend moving back to desktops from mobile, umm, ever.