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Week in Review - TikTok, Facebook and what comes next

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Saturday, February 29, 2020 By Lucas Matney

Welcome back

Hey everyone, welcome back to Week in Review where I dive deep into a bit of news from the week or just share some thoughts and go over some of the more interesting stories of the week.

If you're reading this on the TechCrunch site, you can get this in your inbox here, and follow my tweets here.

The big story

This week, I spent a few hours at a conference called “Social 2030.” The conference, which was put on by a couple of venture capital firms, aimed to identify trends that would impact the social media world in the next decade.

The controversial bit of the conference came during an interview with Reddit CEO Steve Huffman, where the executive blasted the hot social media platform of 2020: TikTok. In a discussion surrounding the hot new platform on the block, Huffman got a little passionate.

"Maybe I'm going to regret this, but I can't even get to that level of thinking with them," Huffman said. "Because I look at that app as so fundamentally parasitic, that it's always listening, the fingerprinting technology they use is truly terrifying, and I could not bring myself to install an app like that on my phone."

He also called the app “spyware,” something the folks at TikTok didn’t like too much. They sent TechCrunch a statement responding to Huffman, saying, "These are baseless accusations made without a shred of evidence."

That exchange was the most newsworthy bit at the conference, but the broader trends addressed by panelists were more interesting. TikTok’s advent has proven that Facebook is vulnerable, something that didn’t always seem apparent during social media’s popularization.

While its popularity has merely shown the ability of a non-Facebook app to out-Facebook Facebook, there isn’t so much out there right now that points to a dramatic shift in social media power-dynamics. Even with newcomers like TikTok, the world of social media feels a bit stale entering the new decade, the problems are getting broader but the user interactions seem to have only evolved web forums.

This was where conversations got interesting at the conference, theorizing what could lead to dramatic shifts. Many panelists talked about the influence of smaller verticalized communities inside apps that were custom built for the needs of that particular interest, be it sports, gaming or parenting. The idea that a monolithic network is always needed kind of overestimates how widely people in these communities want to be sharing, they said, something that messaging apps have really doubled down on.

The bottom line was that social media doesn’t have to look the way it does right now. Many executives at the conference spoke in terms of the transformative effects of the blockchain or VR or AR — it was clear that they didn’t quite know what exactly was coming, but they also felt that there was more to being social online than what we’ve already seen from the world’s biggest companies.

The big story image

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Trends of the week

Here are a few big news items from big companies, with green links to all the sweet, sweet added context:

  • Stocks take a beating
    The news of the week was COVID-19 and the public markets. The Dow, the Nasdaq, the S&P 500, it wasn’t pretty for any of them. Read more about it in our coverage.
  • Facebook cancels F8
    Coronavirus fears hit the market and just dominated everyone’s minds this week. The effect on tech conferences has been a low-importance but highly interesting gauge of where the tech industry’s thinking is at. A bunch of the main sponsors of the Game Developers Conference announced they wouldn’t be attending the event and Facebook shelved the in-person component of their hallmark event, F8. Read more here.
  • DoorDash confidentially files for IPO
    The timing didn’t seem ideal, but food delivery startup DoorDash announced this week that it had confidentially filed and was planning an entrance to the public markets. Read more here.

Extra Crunch

This week, I published a brief interview with the CEO of Superhuman. The company is a $30 per month email service, but it’s really pushing a lot of startups to rethink how they structure their subscription businesses.

Superhuman CEO Rahul Vohra on waitlists, freemium pricing and future products

"The "Sent via Superhuman iOS" email signature has become one of the strangest flexes in the tech industry, but its influence is enduring, as the $30 per month invite-only email app continues to shape how a wave of personal productivity startups are building their business and product strategies..…"

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