Facebook is the 800-Pound Gorilla in the Social Media World and Needs More Competition 2/5/18 - A Whittle Bit of Commentary

A Whittle Bit of Commentary with Chad Whittle

Below is a rush transcript (may contain errors):

I recently discussed the social media industry overall and why it’s time to bust the social media trust, and today I want to concentrate on the 800-pound gorilla in the social media world, Facebook.  

Facebook has more influence than you probably realize because they own more than you probably even know.

In addition to Facebook, the company owns the apps WhatsApp, Facebook Messenger, and Instagram, that makes the Zuckerburg company access to over 4 billion monthly active users, and granted there are millions that use more than one of these apps, but the point is that is a lot of influence on people for one company to have.

Facebook could sway an election, or other political issues if it wanted to with that kind of access.

In the recent quarter, Facebook did see a small decline in the hours per day people access the site, but it’s not enough to matter.

Facebook should be broken up. On WhatsApp alone, it has 1.5 billion monthly active users, second to the Facebook app itself that has 2.1 billion users per month.

I’m all for success and capitalism, but Facebook doesn’t leave much room for others to compete. Competition is good, and more voices and owners of social media would be a good thing and would advance innovation in this field.

I’m Chad Whittle on A Whittle Bit of Commentary.

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Posted on February 2, 2018 .