We have seen that there are all types of leaks when it comes to smartphones. They are usually weeks or even months ahead of the launch of any smartphone. However, we have a very different type of leak which does not relate to a smartphone or any type of gadget in general. Instead, we have a leaked transcript of the internal meeting at Facebook which happened few months back and is now posted by The Verge’s Casey Newton.
Now, there are two major and important things that we will be talking about in the leaked transcript of an all-hands meeting. Basically, you should note that this type of meeting is where the team shares their idea about the product and discusses various aspects as well as their competitors’ strategy. However, it is surprising to see that Facebook’s CEO does not understand TikTok as a product. While he says that TikTok is hugely popular in key markets such as India, China and is also growing in the US, he describes it totally wrong. According to him, TikTok is “like the Explore Tab that we have on Instagram”.
He also adds that “it’s married short-form, immersive video with browse. So it’s almost like the Explore Tab that we have on Instagram, which is today primarily about feed posts and highlighting different feed posts. I kind of think about TikTok as if it were Explore for stories, and that were the whole app.”
Talking about his own product, Mark says that “We’re taking a number of approaches with Instagram, including making it so that Explore is more focused on stories” and acknowledges that “It is growing, but they’re spending a huge amount of money promoting it. What we’ve found is that their retention is actually not that strong after they stop advertising. So the space is still fairly nascent, and there’s time for us to kind of figure out what we want to do here. But I think this is a real thing. It’s good.”