Newly minted TikTok CEO Kevin Mayer made his first public statement hours ahead of Big Tech’s antitrust hearing on Wednesday. What a coincidence.
- Mayer argued that banning TikTok in the U.S. (an idea that some government leaders have floated) would foster the same anticompetitive environment lawmakers are chastising Facebook and Co. for perpetuating.
- One of the main points discussed in the hearings was Facebook’s purchase of Instagram. Some viewed it as FB’s attempt to “neutralize a competitor.”
Zoom out: I pointed out before Facebook’s antitrust hearing that, in the U.S, Facebook receives more than $8 of every $10 spent on social advertising. TikTok is threatening to chip away at some of that dominance.
Bottom line: Just because TikTok is good for competition doesn’t mean it’s good for national security interests. Mayer’s statement was likely more of a promotional play for TikTok than a serious jab at Facebook.