Invest Like the Best with Patrick O'Shaughnessy Turner Novak – The Past, Present, and Future of Consumer Social Companies - [Invest Like the Best, EP.182]
Jul 14, 2020
Turner Novak, a partner at Gelt VC, specializes in consumer social companies and their growth dynamics. He discusses the evolution of platforms like TikTok and Facebook, highlighting how user identities and content shape success. Turner analyzes TikTok's unique algorithm and mobile-first design, which boost engagement, and compares it with innovative models like Pinduoduo's direct-to-manufacturer approach. He also reflects on Snapchat's strategy to attract younger audiences and contrasts consumer social firms with traditional retail giants in today's rapidly changing landscape.
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Quality Growth
- Facebook's impressive growth wasn't always obvious.
- Quality growth, tied to competitive advantage, matters more than sheer speed.
Identity and Friendships
- Real identities and friendships are key for social network success.
- Facebook leveraged user profiles for early ad targeting, demonstrating the power of user-generated data.
TikTok's Mobile-First Design
- TikTok differentiated itself by being fully mobile-first, unlike incumbents like Facebook and Instagram.
- This focus makes TikTok's full-screen video ads highly effective, capturing user attention.