> Interesting that this should come out of China and not the west. Maybe we are seeing the effect of monopolies stifling innovation.
I doubt that is the case here, since one could easily make the case that China has more monopolies and government control than the West. More likely, this has more to do with what makes things go viral. TikTok's rise was very much a viral sensation.
The main reason being ByteDance had deep pockets to acquire users. The amount of ad spend on user acquisition was unreal at $3m a day through 2018 and 2019. Literally billions were spent on promoting the app. Any half decent social media app would have done well.
I doubt that is the case here, since one could easily make the case that China has more monopolies and government control than the West. More likely, this has more to do with what makes things go viral. TikTok's rise was very much a viral sensation.