Facebook is the great big copy-machine; it creates its own versions of what’s working out there on the smaller networks (e.g. Poke is Facebook’s Snapchat) and tries to mainstream use through 1 billion people.
Journalists have long joked about how The New York Times responds to a scoop it didn’t get: either by following it and pretending it’s the publication’s own, or by publishing a story designed to take the wind out of the original story’s sails. In media terms, Facebook is the website of record. Nobody else gets scoops.
But you can’t win at everything. Poke bombed, so did the Facebook Camera. Facebook is now stuck with buying young talent. Luckily, Instagram is a hit. It also just so happens that in typical Facebook nature, Instagram mocked Vine in introducing video.
“They did this to spite Vine (and Twitter, which owns Vine), not because it makes Instagram better, because it doesn’t make Instagram better, it makes it worse.” – John Gruber