That's a big risk for any market with first mover advantage / network effects.
How'd Microsoft's mobile efforts go?
Sometimes the lead quickly becomes insurmountable, so if you're sitting on a cash flow machine it's not a terrible idea to at least keep pace with new markets.
What is the risk for Meta? They will continue to be a social media company that prints money regardless. I'm arguing that they NEVER need to join the AI market, not try and jump in late.
