Facebook Social Services (FbSS), a missed opportunity
Facebook should split its underlying Facebook Social Services (FbSS) APIs into a more independently consumable product. Not only could Facebook use its scale to sell services cheaper than almost anyone else, but they would be a hosting platform for other future social networks, competitors, and would have the opportunity to buy good technology built on their platform.
Facebook is leaving money on the table not selling it's primitive services to competitors, akin to AWS selling bandwidth and storage to Netflix, or to Whole Foods being just another consumer of Amazon's grocery supply chain primitives. Facebook Social Services would be instantly well positioned to quickly compete with both AWS and Azure, while at the same time offering a very unique set of services derived from their expertise in building social infrastrucutre.
If a company is building an app and wants to add login services (its own private tenant/database of user accounts, not FB login), Facebook should sell the backend hosting and security as a service. With increased government regulations raising the barrier of entry for new players, Compliance could be offloaded and subcontracted. The same goes for localization, anti-evil, marketing (Adobe Marketing Cloud, Salesforce, Oracle territory) and even engineering consulting.
The isolation of FbSS and The Blue App Family would also act as a preemptive action, preparing facebook for any sort of DoJ inquiry into its breakup. Facebook would have the upper hand by having an answer, one that benefits them, to the question "What would it look like to split up Facebook?"