Can There Be A “Facebook Killer” With The Big 3 Networks Taking All The Air Out Of The Room? [PODCAST]

CHRISVOSS
Chris Voss CEO, The Chris Voss Show

Posted on August 14th 2012

Back when Google+ launched I could see that it was most likely going to be successful and I began talking about how with 3 power players, G+, Facebook and Twitter, it took a lot of “air out of the room” for other new social media platforms to rise up. I discussed that it might be impending doom for startups calling themselves the next “Facebook Killer.” Right now App.net is claiming it will be the next innovation and future power player. I really wonder.

Looking at history people seemed to have formed this idea that social media networks have a set shelf life and we just need to watch for the next innovative upstart. I dont think this is true anymore in this enviroment. In looking at AOL and MySpace both companies started to fail when they were bought out and lost in huge corporations that bogged them down and had little understanding of their operations. They were ahead of their time and I think Social Media has grown up more in its integration in to our society. Mobile has helped make it a “norm.” When you look in the past each company that dominated the had little or no strong competition. But once they quit innovating or fumbled, new companies easily rose up and out advanced them.

Today, we have something different with 3 major platforms: Facebook, Google+ and Twitter all heavyweights fighting for users. They have cash, users, innovation and are multinational like never before. When I said that I think Google+ will take more air out of the room, making it harder for new companies to come up, players like Status.net, Diaspora, Anybeat, Heello, Chime.in, Unthink, were all being seen as the next “Facebook killer.” After a year or so they have failed and even new powerhouses with cash like Microsofts So.cl cant even find air to breathe.

The other factor is a mobile and an apps economy that has integrated services into every facet of our lives they are positioned to survive and dominate for a very long time. Even Apple has integrated Twitter and Facebook into its OS as has Google+ in Android.

You have to also look at how the “Big 3″ operate. While past companies have gotten lost in middle management bog downs, the Big 3 seem to have avoided those pitfalls. Mark Zuckerberg still owns control of his corporation. Google has let its G+ team operate and innovate. The 3 companies in competition are constantly pushing each other to new levels of innovation like never before. All they have to do is copy one another and try to get ahead. Its great for the consumer, but how does a new startup catch up and compete? Given this environment its gotta be pretty hard and getting harder.

One other element is social media user burnout. Users don't want to have to work multiple networks and Facebook has gotten really good at being the place for your family and close friends. They’ve positioned to be the “journal of your life.” Yes people complained about Facebook's mistakes with privacy, selling information and ads, but failed competitors have shown people love the free sell-your-soul model over having to pay outright dollars for a network. People have a history of complaining, whether they actually do anything about it is another matter. In the end people go with whats comfortable and popular.

You have to remember that social media and mobile are only adopted by about 20-25% of the population. Its projected to goto 35%+ in 2 years. Theres still plenty more users to join the social media revolution. The more the Big 3 get, the harder it will be to usurp them. Social media isnt the wild west anymore. Its very well-organized and I dont see a “Facebook Killer” coming anytime soon. Most of these companies take years to develop and come into popularity, but most came up with little real competition compared to now. If you really look at all the failures of new companies over the last year, the term “Facebook Killer” just means your next up on the junk pile. Maybe its time we quit using that term?

What do you think?

Source: The Chris Voss Show

CHRISVOSS

Chris Voss

CEO, The Chris Voss Show

Chris Voss has been a CEO and Serial Entrepreneur for over 25 years, building and managing a multitude of corporations in differing fields of the social industry. Forbes rated him #18 in their list of Social Media Power Influencers. He has also received major accolades from current and past clients. 

 
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Comments

Great post/podcast Chris--provocative and well-reasoned. But I still see opportunities for the next big players. I've posted my devil's advocate reply here.

I agree that the Big 3 as you call them seem to have a lock on things for now, and probably for the foreseeable future. Nothing lasts forever, though. Reading your article, I couldn't help but think of another Big 3 - NBC, ABC and CBS - that seemed to have cornered the market and stolen all the air from the room until first the upstart Fox network and then later dozens of 'specialty' channels started to appear. Today, the Big 3, or really Big 4, are still there but are forced to stand against some pretty tough competition.

What a terrific analog, Sharon! Really helps put things in perspective.