Facebook now needs to focus on future growth, Diller said, adding that Mark Zuckerberg is only running the company for the long-term.
He also believes that the company’s strategy is the right one. “What they are doing is insatiably working to make their site better and get more people to use it and get them to use it more,” Diller said. “Secondarily, they are looking to get revenue from it, which is a natural outgrowth of taking care of your customers.”
Diller also addressed the questions about making money of mobile. He told CNBCthe only issue for mobile is the “fairly small” form factor, “so your ability to put a lot of stuff on the page, advertising opportunities, is more limited, but that forces you to therefore create new ways of getting revenue.”
While Diller had a largely positive view on Facebook, he did suggest that other social media companies like Zynga and Groupon are overvalued.