1. Apple chose to shoot Facebook in the head and move Facebook's ad revenue to Google, because Apple shares in Google's profits.
https://twitter.com/lutherlowe/status/1489435109908525056
2. Apple's decision to block tracking on mobile devices significantly harmed Facebook's ad business, which is good. But Apple did not apply the same provisions to Google's mobile services. So ad money moved from FB to Google. Why did Apple do this?
3. It's simple. Google pays Apple something like $15B a year for Google search to be the default on the iPhone's Safari browser. That's at the heart of the DOJ antitrust suit against Google filed in 2020. 
4. Even for Apple, $15B is a lot of money, that's between 15-20% of its earnings. I'm not sympathetic to Facebook's plight, surveillance advertising is genuinely evil. But Apple picked Google, and itself, to win the surveillance ad game.
5. All that being said, these are all enormous companies each of whom is bigger than any firm in human history. Yeah Zuckerberg lost $24B but he *had* $24B to lose. And Facebook can still make $40B a year while spending $10B on whatever Zuckerberg wants, which in this case is VR.
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