The value of competition in social media and business

What if Youtube had a serious competitor? I truly believe that if YouTube had a serious competitor it would have lost a lot of viewership, creators and therefore business by now. And then when we have big scandals like the recent Logan Paul one, it would force YouTube to do much better as they should be, or they would fail as a new and hopefully better video sharing site for viewers and creators would rise up and blow YouTube out of the water.

Just look at what is being reported by Project Veritas about Twitter recently. Even before the Project Veritas’ videos, it was clear something was happening and quickly. Not too long ago Twitter purged verified ticks (rightly or wrongly) as to what they felt was users who were promoting hateful ideas or speech. While small at the moment is starting to gain traction due to its deeper commitment to free speech and quite frankly, using Twitter’s current scandals against them and promoting people to their social media platform. That’s how I signed up and am now supporting their endeavour. They are still small and mostly you will find a conservative echo chamber on there which is a problem but that is to be expected when conservatives feel they are being suppressed on Twitter. Make no mistake, Twitter is still the biggest social media platform but and Project Veritas present enough of a threat to Twitter that they will have to really think about how they move forward.

This is the beauty of competition in business and well, anything. Competition forces companies to be better and provide the best thing for customers so they buy the product or sign up for their social media in this case. In terms of business’ selling physical or digital products, unless a company or entity, in particular, is massively popular and people will buy their products anyway, competition forces these companies or entities to sell at the lowest price possible while still having a decent product to keep a positive reputation and returning customers.

If you have lots of money to invest right now, you would be mad not to invest in companies to compete with social and video sharing sites right now. I honestly believe a solid monetized competitor to YouTube would see creators flock to your site. Twitter has some small competition as discussed earlier but I still reckon a new competitor to the site would do well but I am not going to deny it would be much harder against Twitter even at the moment.


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