Millions already are seeking a new social media platform particularly one they can trust, that’s secure, doesn’t leave a permanent online presence and isn’t involved in censoring alternative news. The platform will also distinguish between what is a "true friend" versus what is "an associate" nor limit you to 5000. Thus, they have decided to launch a new social media platform using the blockchain technology and creating its own coin that will not only allow boosted posts on crypto and other industries, but also improve on Facebook’s many weaknesses.
They are under no false impression and understand that becoming as large as Facebook is unlikely. However, they also realise a media platform just 1% of the size of Facebook can create a multi-billion dollar company.
A company spokesperson said, “when Facebook started, it had no idea how to make money- nor did they even think they could. Starting now, we already have a proven business model to follow, but we can improve on many of Facebook’s weaknesses. Plus, we intend on sharing the future ad revenues with our content creators, i.e. the users.
Considering that the crypto industry’s combined market cap of $600-$800 billion is actually larger than Facebook’s $560 billion, Facebook could learn the lesson that it’s never a good idea to p*** off your customers.