Matt BrittonFounder & CEO powering AI-driven consumer insights

Facebook Is the Dial Tone of the Internet

Name: Facebook Is the Dial Tone of the Internet
Uploaded: 2018-10-17T21:53:21Z
Channel: Matt Britton
Description: Matt Britton argues that Facebook remains the dominant social platform and functions as the web’s "universal identity layer": people use it (and…

17 Oct 2018

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Matt Britton argues that Facebook remains the dominant social platform and functions as the web’s "universal identity layer": people use it (and Instagram, owned by Facebook) for life events and memorializing. He dismisses the idea that millennials have left Facebook, calls Facebook the de facto social-media sector (saying other entrants like Snapchat do not form a separate sector), and stresses that advertisers must learn to leverage Facebook’s reach.

A lot has been made of millennials aren't on Facebook anymore. And I can tell you all firsthand, that's just simply not the case. Facebook owns Instagram, so they're all on Instagram. So that just eliminates that argument. But what Facebook has become is really the universal identity layer for the web. If there's a marriage, if a baby is born, if somebody graduates, if, God forbid, somebody dies, they're gonna go to Facebook to look, and they're gonna come commemorate people and they're gonna look for pictures. And that's kind of where you go. It's the dial tone of the Internet, and nobody is leaving it anytime soon. I go on CNBC all the time. And when Snapchat went public, there's a lot of other talking heads saying Snapchat's the latest entrant in the social media sector. There is no social media sector. There's just Facebook. They are the sector. There's no other social media companies. They've won. It's the largest, most powerful communication tool that's ever existed in the history of humanity. And if you're an advertiser advertising anything, you need to figure out how to actually leverage.