Yeah....why didn't he compare google to facebook? Google is clearly acting like microsoft(another unprofitable company).
I mean, seriously, Facebook and Google are analogous. They both create a web page. It isn't as if one of the webpages(Google) is defined by patented technology while the other webpage(Facebook) is mostly just defined by copyright.
Also, they both have made software(wait, Facebook doesn't), so Google should be compared to these too. Don't you remember all of the facebook software?
All sarcasm aside:
At the end of the day, they are both advertising companies...but all webpages are advertising companies. There are 3 main types of web companies, those that create, those that innovate, and those that don't do either. Sites that produce content(every news site) are only as good as their content, and if that goes down the drain they fail. Companies that innovate(like Amazon and Google and Netflix) may not be producing content, but they are typically innovating new software and new ideas. This might be a new algorithm, a new bit of server tech, or a new content delivery method. These companies are as good as their innovation. The final category is those that neither are content producers or innovators, and these are your Facebooks and your Myspaces. They aren't actually doing anything but aggregating and serving regurgitated information. They might be really successful(like Slashdot), but at the end of the day someone can come along and surpass them just because they are more "popular"....and there is nothing that can be done about this because they aren't actually doing anything.
If you think I am wrong...name one "feature" that Facebook introduced that didn't exist in some way on some other site(perhaps identically).
Mark Zuckerberg doesn't scour the planet for the best minds to innovate or develop. It didn't take a genius to decide to add "photos" and "photo-tagging" to facebook. It just takes him looking at another site and saying "We should have flash games on facebook!!".
When you buy stock in Facebook, you are essentially betting that Facebook will remain popular for awhile longer. If people start leaving Facebook for something else, then Facebook cannot stop them(same thing happened to MySpace). Sure, you can add some features....but that doesn't bring back page views. If people stop using google search for something else, Google can improve their search results. If the search gets better, people use your product. Sure, popularity matters...but at least you have some competitive tool(Just look at what Microsoft is doing with Bing)