TikTok is the social network of the moment, but it’s days may be numbered. President Trump and Mike Pompeo have indicated they are considering banning the app over data security. India already has, over a border stand off with China. Losing India was a significant blow, TikTok had over 200MM users in that country alone.
With Facebook’s TikTok clone Lasso decommissioned, the obvious alternative is byte, a reincarnation of Vine (Dom Hoffman was a co-creator of Vine and is behind byte). News about TikTok’s troubles have already resulted in a massive spike in downloads for byte. July 9th saw 622K downloads, the most since the app’s launch in January, according to Sensor Tower.
Facebook Lasso’s loss is byte’s gain. Still not sure why Facebook shut it down when the opportunity is right in front of them. Byte is now the natural alternative to TikTok. A few tweaks, namely allowing for slightly longer recording times, and it would pretty much be TikTok. Be on the lookout for a SPAC (special purpose acquisition corp) to reverse merge with byte and quickly take the startup public. Then load up on shares.