A Million Dollars isn’t cool. You know what’s cool? A Billion Dollars.
– The Social Network
I distinctly remember watching “The Social Network” – a movie about how Mark Zuckerberg made a ‘cool’ social networking site to compensate for his social anxiety and awkwardness as a way to ‘Fit-In’ in Harvard’s social scene.
Now, about 14 years since its inception, it seems that Facebook has started mirroring its Try-Hard roots. As users spend more and more time away from the now boring website, Facebook is gasping for the segment responsible for its rise in the first place – Teens.
Facebook knows that it needs to do something to keep the Teens entertained – owning Instagram and WhatsApp just isn’t enough. According to a survey conducted by Piper Jaffray, only 5% of Teens considered Facebook to be their favourite social network – down from 65% in 2013. This is the reason why we have seen so many attempts from the Big Blue to capture this demographic – be it launching standalone apps like Bolt, Flash, Poke or acquiring popular social network like tbh – alas all of them have failed.
Now, Facebook is launching ‘Lasso’ – a video music app just like TikTok in a desperate attempt to once again try to sway away the teens. TechCrunch states that “Users can record and share videos of themselves lip syncing or dancing to popular songs, according to information from current and former Facebook employees.”
These futile attempts are not only costing Facebook millions of dollars, but also showcasing how deep in trouble they really are – investors are scared, stock price is at a 52 week low, and the public is switching to competitors.
Facebook’s constant data mining doesn’t help its case either, as more and more users become aware of the company’s hideous tactics to sell their data to advertisers and manipulators, the social network continues to dwindle down in popularity.
In conclusion, Facebook’s constant try-hard approach combined with its hideous tactics are leading upto a destructive downfall as Mark Zuckerberg continues to coast away listening to “Baby You’re A Rich Man”…..
What do you think about the article and the future of Facebook? Comment down below.