Jamie McKane
MyBroadband Journalist
- Joined
- Mar 2, 2016
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The medicine Facebook needs
Social media has a competition problem, and its name is Facebook. Today, Facebook and its subsidiaries are over ten times more valuable than the next two largest social media companies outside China—Twitter and Snapchat—combined.
It has cemented its dominance by buying out potential competitors before they’ve had a chance to grow (like Instagram) and waging wars of attrition against others (like Snapchat) when it can’t.
Social media has a competition problem, and its name is Facebook. Today, Facebook and its subsidiaries are over ten times more valuable than the next two largest social media companies outside China—Twitter and Snapchat—combined.
It has cemented its dominance by buying out potential competitors before they’ve had a chance to grow (like Instagram) and waging wars of attrition against others (like Snapchat) when it can’t.