Originally posted on Gigaom:

It’s probably an understatement to say a lot of digital ink has been spilled about Facebook’s $1-billion acquisition of Instagram, a deal that sent shock waves through the startup community, the venture-capital industry and the technology sector like a boulder dropped into a swimming pool. Many people are questioning the value of Instagram — something that appears to be just a childishly simple simple photo-sharing app — and have ascribed all kinds of motives to Facebook’s interest in it. But as Om has noted in his own posts on the acquisition, there is a lot more to Instagram than meets the eye, and the biggest lesson that I think needs to be learned is: Nothing is more important than the network.

A lot of the coverage of Instagram, especially from people who don’t seem to have ever used the app, has focused on the filters that are provided…

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