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October 14, 2022   Enterprise, FinTech and Alternative Finance, Fintech International, Innovation and Resources, Leadership, Competition, Human Capital, Health, Voices   No comments

Mark Zuckerberg: TikTok ‘Very Effective Competitor’. ‘Sort of Missed’ a Giant Shift in Social Networking

CNBC | Jonathan Vanian | Oct 13, 2022

Meta vs tiktok - Mark Zuckerberg: TikTok 'Very Effective Competitor'. 'Sort of Missed' a Giant Shift in Social NetworkingIn an interview published Wednesday in analyst Ben Thompson’s Statechery newsletter, the Facebook founder said he “sort of missed” a newer way that people “interact with discovered content” via social networking services.

  • Social feeds: People are increasingly using their social networking “feeds” to discover compelling content as opposed to viewing the media shared by the friends that they follow, he explained.
  • Competition: Zuckerberg referred to TikTok as a “very effective competitor” during the interview and acknowledged that the company was ″somewhat slow to this because it didn’t fit my pattern of a social thing, it felt more like a shorter version of YouTube to me,” he said.

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  • AI recommends all content: Zuckerberg also believes it’s important for Meta to develop AI that can recommend a range of content including photos and text to users besides just short videos.

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NCFA Jan 2018 resize - Mark Zuckerberg: TikTok 'Very Effective Competitor'. 'Sort of Missed' a Giant Shift in Social NetworkingThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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