Rise and fall of social media
Rise and fall of social media
Reddit hasn't peaked yet. Twitter is growing again.
Snapchat is stable.
Tiktok is growing fast.
Instagram is still growing.
Myspace.com is still a website. Didn't realize that.
Most important is eventually the popular site of the time will become forgotten. Don't build your entire business on someone else's platform.
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I would argue with the representation of this chart since, for instance, in 2020, Facebook was the most used social media platform. I mean, it has over 2.5 billion monthly users, and I guess the numbers speak for themselves. There’s no doubt that Facebook will always be the market leader, and I would primarily argue this because Facebook is one of the best platforms for businesses. One can instantly boost their revenue if there is a lot of engagement on their page, meaning lots of likes, comments, and so on. When I started selling some handmade products on Facebook, I used this platform https://buzzvoice.com/ to help me promote my posts.
I kind of felt like I knew that Facebook was dying... but that chart is very impressive
The real underdog is twetch.app
I bet Reddit will still be around when every others will be down.
What about HN? I would be curious to see that.
I went to the Chartr website and saw this one. 😬
Love it. I have a note to write an article about this. The note says:
"Eventually Instagram will be like Tumblr. Build your own website, and your own email list and your own mobile number list."
Growth of reddit is interesting,
Social media platforms were never built for constructive debates, Social currencies incentivizes majoritarian opinions. If you hold a minority view and want it to be acknowledged then moving on to a platform where your view is the majoritarian opinion is the only option.
Reddit facilitates it with its Subreddits.
Love Elon Musk? go to r/elonmusk
Hate Elon Musk? go to r/EnoughMuskSpam
Other social media have groups, forums and what not; Yet each subreddit is a platform by itself, tightly knit community, privileges & tools for moderation.
The new mobile app has enabled those who are from other social media platforms, those who would have never used old.reddit.com[minimalist, 90s feel website] to try it out, accelerated by recent string of high profile news involving reddit.
So as far as startup valuations go, I think reddit is worth $6 Billion. It would be interesting to watch how reddit balances its philosophy with advertiser's interests because unlike other social media platforms its long time users hate advertisements, don't click on everything they see.
I would not describe subreddits as tightly knit communities. There is no interpersonal relationship, no real connections made. Just a bunch of randoms with usernames and no real identity behind them.