Facebook's S-1 IPO filing includes a detailed assessment of business risks. These include: its lack of mobile monetization and the fact that it doesn't own a mobile platform, government restriction of access, inability to maintain its growth rate, and competition from Google+ as well as Twitter and Microsoft. Below you can see the full text of the risk assessment:
Source: http://feedproxy.google.com/~r/Techcrunch/~3/6Vw8Q9ywDyU/
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