IS this the end of innovation in social media??

LINK: http://www.businessinsider.com/fred-wilson-on-what-happened-in-2014-2014-12

Wilson a venture capitalist  was one among the few to spot  the emergence of social media. He invested  in Tumblr,Twitter,Zynga,Foursquare,Zynga,and a few others. Personally he believes that social media has reached the threshold point and can’t move forward. He feels that entrepreneurs will continue to develop new apps, but the growth of that app will be minimal. Only the big players will stay here as their places are secured. There is no room for innovation here.

Every year there are a couple of new apps launched,stealing away customers from the old apps. For eg: whatsapp has stolen families and group users from facebook.Snap chat has stolen the younger generation from Instagram. This trend will be the trend for the next  20 years.

1)Do you guys agree with Wilson? If not which app will take over the market share from mature players like Facebook and whatsapp?

2)Is this trend of stealing away customers a healthy one or not?

3)Will mature apps keep re-inventing themselves  leaving no room for new players?

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One thought on “IS this the end of innovation in social media??

  1. In 1989, when Francis Fukuyama predicted in his essay that the end of cold war the end point of mankind’s ideological evolution and the universalization of Western liberal democracy as the final form of human government. After 26 years, it seems that his prediction still hasn’t come true. There were always someone claiming that it’s the end of something, but most of them turned out to be wrong. I also believe that 2014 would not be the end of innovation in social media. Maybe in US, most people are on social media, and the market is mature. However, there are still millions of people who even do not have Internet access now. When they have access to Internet, would Facebook be their major social media platform? The answer is not clear.
    As people’s time and attention is limited, the trend of stealing customers is unavoidable. When people use Whatapp more ,they would definitely use Facebook less.
    From the other articles we can see that nearly all the big players are trying hard to re-inventing themselves. There’re still plenty of space for new entrants if they succeed in meeting the needs of niche customers.

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