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What Zuckerberg told employees about TikTok, Libra, and calls to break up Facebook

On October 1, The Verge published the full transcript of Mark Zuckerberg's two internal meetings which were held in July, wherein he answered employees' questions on Facebook's plan to counter the growth of TikTok, on Libra, on why Zuckerberg can't attend every hearing in the world. On TikTok popularity and Facebook's plan of attack: Zuckerberg said that TikTok has essentially married short-form, immersive video with browse, and equates it with Instagram's Explore Tab, which is about feed posts and highlighting different feed posts. Facebook also plans to launch Lasso, its standalone video app, in markets where TikTok isn't aready big. So Lasso isn't coming to India anytime soon! "I think that it’s not only one of the more interesting new phenomena and products that are growing. But in terms of the geopolitical implications of what they’re doing, I think it is quite interesting. I think we have time to learn and understand and get ahead of the trend. 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." - Mark Zuckerberg Zuckerberg acknowledged that TikTok is the only non-American company to dominate the global internet landscape, which has been a bunch of American tech companies. "It’s starting to do well in the US, especially with young folks. It’s…

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