You aren't giving elevator pitches for these products; you're giving the one sentence description the NYTimes would use to describe these products to my grandmother. Your sentences accurately describe what these products -are-, but they wouldn't inspire an investor to believe that they were multi-billion dollar opportunities.
Facebook - When Thiel invested in Facebook, the prototypical social network was Friendster, a massive failure. Facebook wasn't the first or the only social network for college students. What made it different from the competition? That's a more interesting question, and one that isn't easily answered in an elevator pitch, not today and not in 2004 when it was first funded.
iPhone - Let's go back to the iPod then. In the words of Slashdot's CmdrTaco when the iPod first launched: "No wireless. Less space than a nomad. Lame." Barring a prototype, how do you describe to an investor what makes the iPod different? My best attempts would fall flat: "You see, it has this little wheel..." Now we understand what the Nomad --> iPod jump is (innovative technology giving much better usability). Now we can spread hype in anticipation of the Palm/WindowsMobile/Blackberry --> iPhone jump. Now we trust that Apple is able to deliver on this hype. But who would have thought all this was possible in the years before the iPod?
Facebook - When Thiel invested in Facebook, the prototypical social network was Friendster, a massive failure. Facebook wasn't the first or the only social network for college students. What made it different from the competition? That's a more interesting question, and one that isn't easily answered in an elevator pitch, not today and not in 2004 when it was first funded.
iPhone - Let's go back to the iPod then. In the words of Slashdot's CmdrTaco when the iPod first launched: "No wireless. Less space than a nomad. Lame." Barring a prototype, how do you describe to an investor what makes the iPod different? My best attempts would fall flat: "You see, it has this little wheel..." Now we understand what the Nomad --> iPod jump is (innovative technology giving much better usability). Now we can spread hype in anticipation of the Palm/WindowsMobile/Blackberry --> iPhone jump. Now we trust that Apple is able to deliver on this hype. But who would have thought all this was possible in the years before the iPod?