It is known that Facebook has had big problems lately, which we can see from the drop in the number of users, but also from the state of the stock market, where they lost hundreds of billions of dollars this year. In a recent interview, Mark Zuckerberg explained what could be the cause of these problems and admitted his mistake regarding the company’s strategy.
A few years ago, Zuckerberg was convinced that users wanted Facebook to become as personal a platform as possible, that is, content published by their friends and relatives would appear on their profiles. Today it is obvious, as he himself admitted, that he was wrong.
It turns out that users want the best and highest quality content and it doesn’t matter who publishes that content. They recognized this in time in TikTok, which is why the popularity of this network is constantly increasing, while users are slowly leaving Facebook. Although they tried to change Instagram’s algorithm to be more like TikTok, users were not happy because they don’t want the network to become just a copy of TikTok.
Zuckerberg says that at first, TikTok didn’t fit his “social business template” and felt more like a shorter version of YouTube. Today, he says it’s important to create an algorithm that will recommend a variety of entertaining content to users, but unlike TikTok, he wants to focus not only on videos, but also on photos and text.
“Sometimes I just want to watch videos, but often I just want the best stuff,” he explained in an interview with Stratechery.