We're witnessing the death of social media (as we currently know it)

There is a tidal wave currently making its way through social media. Meta has been bleeding tremendous amounts of money pursuing its ambitious virtual universe that currently resembles a Wii game from over a decade ago. Kanye West just bought Parler. Donald Trump is doing his thing with Truth Social. And last but not least; Elon Musk just purchased Twitter.

Despite the fact tech stocks are in the toilet and economies are on the edge of financial doomsday thanks to white hot inflation and other woes, it seems social media is still considered a high value prize in the investment world.

Never before have we witnessed such a tidal shift in social media since MySpace was killed by Facebook. I'm showing my age now even mentioning MySpace.

It's interesting to see just how much has changed in a few short years. Facebook is regarded as a platform that only old people use. Largely dominated by millennials and even their grandparents. The kids of today might have Facebook, but many don't use it.

You can see why Zuckerberg wanted to buy Instagram. Had they missed out on that purchase, Meta would be in an even worse spot right now.

It's all about TikTok these days, followed by Instagram. Even with Instagram, it has become a place where dolled up influencers try making you buy things with affiliate codes and links, essentially what blogging was at its peak.

I think this presents an opportunity for platforms like Hive to step up. As people consider leaving Twitter because of Musk's purchase, they'll possibly be looking for another island to call home. Facebook is dying. Instagram is the same.

With the latest changes to the Hive software, it presents an opportunity for a social media platform built right on top of Hive. However, issues around resource credits will be a barrier to adoption. If people have to pay to use the platform or face limitations because of RC (the inability to post much), the truth is they'll look elsewhere. Social media has historically always been free. With the ability to delegate resource credits, maybe that's a barrier that has been broken down. But those credits have to come from somewhere and the system needs to make money to be viable as it scales.

Is there a future for social media when the fanfare of video on TikTok dies? And more importantly, can Hive play a role in the future of social media?