Facebook, Inc. (NASDAQ:FB) CEO`s Comments Casts A Dark Shadow On Its Apps: Zuckerberg Underestimates Tik Tok

Brendan Byrne - October 3, 2019

In leaked audio from an internal meeting held with employees in July 2019, Mark Zuckerberg, Chief Executive Officer of Facebook, Inc. (NASDAQ:FB), said it is just like an explore Tab on Instagram when describing the Tik Tok. He possibly misunderstood the impact of Tik Tok, and his talk casts a dark shadow on the future of Facebook Apps.

A selfie and something pretty on Instagram

Instagram allows posting a selfie and show around something cute. On the other hand, the story of Tik Tok is entirely different. It is a storyboarded and premeditated and separate from the haphazard stories posted on Instagram. Tik Tok is an innovative form of social entertainment.

Installation of Lasso – 425,000 times

On the sad note, the installation of Lasso is just 425,000 times since its launch on November 2018. Tik Tok has seen 640 million installations since November 2019, outside of China. To date, the installations of Tik Tok are estimated at 1.4 billion, excluding installations in China.

The gross misunderstanding of Tik Tok by the CEO of Facebook is alarming. He feels that it is another Snapchat story to get destroyed easily. If he fails to recognize the rise of Tik Tok, he will miss out on a core social feed that is important for his business.

What does Zuckerberg think about Tik Tok?

During a private Q&A session about the Tik Tok, Zuckerberg said Tik Tok is performing well. When talking about Tik Tok, he said, a bunch of American companies dominate the internet landscape. Several Chinese companies are limited to offering services in the domestic market. See, companies like Alibaba and Tencent are trying to populate their services in Southeast Asia. The Chinese company’s operations are limited when it comes to global expansion. It is the same story for ByteDance built – Tik Tok.  The popularity of Tik Tok is growing mainly among younger people. It also received wide acceptance in the US. Tik Tok is growing faster in terms of scale in India and surpassed Instagram.

The valuation of video-sharing app Tik Tok’s parent ByteDance is $75 billion. Zuckerberg knows the rise of Tik Tok in critical global markets. He plans to address this issue with Lasso, a standalone clone, by first trying in Mexico.

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Brendan Byrne

While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. You may contact Brendan via his email ([email protected]) or his Google+ page (https://plus.google.com/u/0/116608759701551457422).

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