TikTok hits 1.5B downloads, outperforming Instagram

"It is the third most-downloaded app outside of gaming this year. Numbers one and two are WhatsApp and Messenger, while four and five are the Facebook app and Instagram."

Facebook owns 4/5 of the most downloaded apps - just let that sink in for a minute. This space needs competition pretty badly.

While I do agree that this space needs competition, I can't see a scenario in which this can happen. The combined user base of all the facebook apps is a considerable percentage of the world's population. Take out people with no access to internet or living in dictatorship or dictatorship-like regimes and you get probably north of 90% of all internet users. I know people in their 70's and 80's using facebook at this point. And while some countries are more skeptical about it, my country has fully embraced it. To the point where "having a website" is a synonym of "having a facebook page". In reality almost all businesses use facebook exclusively(which is a huge problem for people like me who have blocked all facebook services from my network but that's my problem). The only way a competitor could come into existence at this point the way I see it is a complete collapse of facebook as a company(as in bankruptcy). No one will ditch something that is essential to their existence for something that will only drag them down. Look at G+: IMO as a product the execution was absolutely flawless. Yet it's no more.