Saturday, March 2

Mark Zuckerberg worries about competition with TikTok | Digital Trends Spanish

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Mark Zuckerberg is concerned, and it’s not just the accusations against Meta for not respecting user privacy. The CEO is also unsettled by the unprecedented fall experienced by Facebook.

The fourth quarter results showed that the social network’s users fell for the first time in its history, losing close to one million daily active users compared to the previous quarter.

This negative present also affects the pockets, since the company revealed to have lost $10 billion dollars in its investments in the metaverse in 2021.

Meta’s valuation fell this Thursday, February 3, by almost $240 billion dollars. For its part, the net worth of the company’s CEO plummeted about $30 billion.

Zuckerberg is concerned and his concern has also been transferred to the company’s employees.

In accordance with BloombergDuring a virtual meeting in which the entire firm participated, the businessman assured that the company faces “an unprecedented level of competition” due to the success of TikTok. For the same reason, Zuckerberg asked workers to focus more on video as a format.

“People have many options to spend their time and applications like TikTok are growing very quickly,” the CEO reportedly said, according to a worker who did not want to reveal his identity.

For the same reason, Meta’s plan now is to focus more on Instagram Reels, which appears as a direct competitor to TikTok.

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