Business Wars TikTok vs Instagram | Hitmaker | 4
4 snips
Dec 9, 2020 In late 2018, a fierce rivalry erupts as Mark Zuckerberg's TikTok competitor, Lasso, flops spectacularly. Instagram faces a major security breach, igniting user outrage and raising privacy concerns. TikTok skyrockets to fame in the music industry but struggles with regulatory scrutiny and perceptions of Chinese government influence. The battle for free speech intensifies as TikTok confronts accusations of censorship, making its future in the social media arena increasingly precarious. Who will emerge victorious in this digital showdown?
AI Snips
Chapters
Transcript
Episode notes
Lasso's Failure
- Mark Zuckerberg launched Lasso, a TikTok copycat, in November 2018.
- It failed to gain traction, with only 70,000 US downloads compared to TikTok's 40 million in the same period.
Old Town Road and TikTok Fame
- Lil Nas X's "Old Town Road" gained immense popularity through the Yee Yee Juice Challenge on TikTok.
- The song topped Billboard charts for 19 weeks, demonstrating TikTok's influence on the music industry.
FTC Fine
- TikTok paid a $5.7 million fine to the FTC for illegally collecting data from minors on Musical.ly.
- This fine was a minor setback for the company, especially given its Gen Z audience's relative lack of concern for privacy.