Social media is dying.
TikTok has spun the tech world into chaos over the past four years, and social media as a concept will likely be the biggest casualty.
For decades, Meta has enjoyed a conspicuous lack of competition.
TikTok came out of nowhere and challenged the social media giants with its stunning virality, just like Facebook unseated Myspace in the mid-2000s.
Facebook launched in 2004. Its only real competition was the vulnerable Myspace. Ironically, Facebook dethroned Myspace by offering social media without ads. It took Facebook eight years to reach 1 billion users in 2012.
Having one billion users is a colossal feat.