tech2 News StaffOct 02, 2019 19:27:18 IST
A transcript of Mark Zuckerberg’s internal address to Facebook’s employees has been doing the rounds on the internet since yesterday.
Facebook CEO Mark Zuckerberg.
Now, Zuckerberg, has himself posted the transcript, released by The Verge on 1 October, on his Facebook page saying “even though it was meant to be internal rather than public, now that it’s out there, you can check it out if you’re interested in seeing an unfiltered version of what I’m thinking and telling employees.” Interestingly, Zuckerberg has also mentioned how TikTok has left Instagram behind in the race for social media domination in India.
Commenting on the massive popularity of TikTok in India, Zuckerberg said “it’s growing really quickly in India. I think it’s past Instagram now in India in terms of scale. So yeah, it’s a very interesting phenomenon.” He also says that ByteDance, which owns TikTok has “married short-form, immersive video with browse. So it’s almost like the ‘Explore Tab’ that we have on Instagram, which is today primarily about feed posts and highlighting different feed posts.”
He also added that while TikTok is growing fast, it is also spending a large portion of its money on promotions. He claimed that ByteDance’s customer retention is not great after it stops advertising.
“I think the geopolitical implications of what TikTok is doing, is quite interesting. I think we have time to learn and understand and get ahead of the trend,” said Zuckerberg.
Facebook is trying to compete with TikTok via a standalone app called Lasso which is currently being tested in Mexico, a country where TikTok has not yet taken over.