Facebook Chairman and CEO Mark Zuckerberg testifies before the House Financial Services Committee on “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors” at the Rayburn Office Building House in Washington, DC on October 23, 2019.
Mandel Ngan | AFP | Getty Images
Meta CEO Mark Zuckerberg didn’t anticipate a new trend in social media that helped rival TikTok’s success.
In an interview published Wednesday in analyst Ben Thompson’s Statechery newsletter, the Facebook founder said he “kinda missed” a new way people “engage with content discovered” through networking services. social. People are increasingly using their social media “feeds” to discover engaging content instead of watching media shared by friends they follow, he explained.
Although people are still interacting with the content that their friends share in their feeds, the general social media trend is “overall, you use your feed to discover content, you find interesting things, you send them to your friends in messages and you interact there,” Zuckerberg said.
“So in this world it’s actually a little less important who is producing the content you find, you just want the best content,” the Facebook founder said. (Facebook changed its corporate name to Meta last year.)
Analysts attributed TikTok’s rapid rise in popularity to its algorithm, which can recommend compelling short videos to users based on their viewing habits and history. The rise of TikTok has posed a significant challenge for the company, which is seeing declining numbers of North American Facebook users and a stock price that has fallen more than 56% this year so far. .
Zuckerberg called TikTok a “very effective competitor” during the interview and acknowledged that the company was “kinda slow at it because it didn’t fit my social pattern, it felt more like a shorter version of YouTube to me,” he said.
Zuckerberg also thinks it’s important for Meta to develop an AI that can recommend a range of content, including photos and text, to users, in addition to short videos.
“Sometimes I want to watch videos specifically, but most of the time I just want the best,” he said.
Earlier this week, Meta launched the Quest Pro VR headset aimed at VR enthusiasts, as opposed to newcomers that will cost $1,500.
look: Meta will attract more buyers because it is attractively priced.