Just weeks after Facebook announced it was going to buy Instagram for a cool $1 billion, Zuckerberg and company rolled out a new app for the iPhone and iPod Touch called Facebook Camera . Why, might you ask, did Facebook fork out that cool bil and then turn around and launch a similar application? First off, the Facebook Camera app had been on the drawing board well before the company bought Instagram, suggesting they were planning to compete against the young startup. Secondly, as Christina Warren points out at Mashable, the answer can be found in the rational behind another major acquisition -- for example, when Google bought YouTube, despite Google Video being readily available. "After the release of Facebook Camera, I’m even more convinced that Instagram could be Facebook’s YouTube — in other words, an acquisition that becomes monumentally important to its future, and helps it solve a problem it couldn’t solve on its own," Warren wrote. Similar
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