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Cliff Notes: THE FUTURE OF FACEBOOK & THE METAVERSE · Earn Your Leisure

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  Speaker 2: So let's get in to this conversation. As far as
• 1:01
  Speaker 2: uh Facebook. Yeah, so Facebook. It's a couple of different
• 1:04
  Speaker 2: question things that's interesting about Facebook on Mark Zuckerberger. The
• 1:08
  Speaker 2: first The first thing is I put a post on
• 1:10
  Speaker 2: i G last week about Facebook changing its name. We're
• 1:13
  Speaker 2: going to get into that, because there's a lot into that.
• 1:15
  Speaker 2: But then also news came out today that it was
• 1:20
  Speaker 2: an alarming trend that they found out. I don't know
• 1:24
  Speaker 2: that why they didn't notice before. But teenagers and young
• 1:27
  Speaker 2: people are not using Facebook. It's declining out at a
• 1:31
  Speaker 2: rapid pace. Like I said, I'm not that's easy to
• 1:34
  Speaker 2: figure out. So but Mark Zuckerberg came back and he
• 1:38
  Speaker 2: painted a positive pictures for the company. So Facebook stock
• 1:44
  Speaker 2: is something that is a cornerstone of the of the market.
• 1:48
  Speaker 2: It's in a variety of ETFs. Is you know, one
• 1:51
  Speaker 2: of the one of the big players is up there?
• 1:53
  Speaker 2: So A how do we feel about the company? And
• 1:58
  Speaker 2: b is it a good time to invest in Facebook
• 2:01
  Speaker 2: stock long term?
• 2:02
  Speaker 3: Or stay away from Facebook stock.
• 2:04
  Speaker 4: I've been telling everyone if you are in Facebook, hold it,
• 2:06
  Speaker 4: but if you are looking to.
• 2:07
  Speaker 3: Add a new position, I wouldn't do it right now.
• 2:09
  Speaker 4: Like it is a coordinated attack on Facebook right now now.
• 2:13
  Speaker 3: He isn't like my Wall Street.
• 2:15
  Speaker 4: There's a bunch of venture firms that don't like him,
• 2:18
  Speaker 4: and they are starting to put their pieces together. But
• 2:20
  Speaker 4: I told you, guys, what was that four weeks ago?
• 2:22
  Speaker 4: TikTok is going to take over over ig. Everyone's like,
• 2:25
  Speaker 4: you're crazy, you can't bet against Zuckerberg. I'm like, I know.
• 2:29
  Speaker 4: I was trying to invest in two thousand and four.
• 2:31
  Speaker 4: Shout out to steveg who put me on a Facebook. Like,
• 2:34
  Speaker 4: the amount of money that would have been made in
• 2:35
  Speaker 4: a deal would have been insane. So like, you have
• 2:37
  Speaker 4: to know when the trend is going to start and
• 2:38
  Speaker 4: in people that are younger than thirty years old do
• 2:42
  Speaker 4: not like Facebook, and even those of us that are
• 2:44
  Speaker 4: over thirty, it's not as efficient as it could be.
• 2:47
  Speaker 4: So TikTok, if you're on it, it's a more seamless platform,
• 2:51
  Speaker 4: better experience. YouTube is a better social network then if
• 2:55
  Speaker 4: you Yes, they have what'sapp, But the innovations have not
• 2:58
  Speaker 4: been as strong as they should be over.
• 3:00
  Speaker 3: The last five years of Facebook. So I love the company.
• 3:03
  Speaker 4: The stock as a sea right now, I wouldn't add
• 3:06
  Speaker 4: to my but if you are have already been been
• 3:08
  Speaker 4: in it sub two hundred, you're fine.
• 3:11
  Speaker 5: Check out the statistic right right, teenage users a Facebook,
• 3:14
  Speaker 5: the app right and the US have declined by thirteen
• 3:17
  Speaker 5: percent since twenty nineteen. Right that's two years ago, and
• 3:20
  Speaker 5: are projected to drop by forty five percent of the
• 3:23
  Speaker 5: next two years, driving overall declining daily users in the
• 3:26
  Speaker 5: company's most lucrative market. It's Facebook has become something that
• 3:30
  Speaker 5: people look like, that's what my grandparents use. Yes, And
• 3:33
  Speaker 5: nobody wants to go to the party with their grandparents,
• 3:35
  Speaker 5: you know.
• 3:36
  Speaker 6: And so like.
• 3:37
  Speaker 3: Facebook is like we're a foobo out right.
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  Speaker 5: Now, shout out too, shout ya damon for us by
• 3:43
  Speaker 5: us right, but you not wearing the I mean, nobody
• 3:47
  Speaker 5: who wants to party with their grandma?
• 3:50
  Speaker 2: Will I will say this as a content creator, and
• 3:53
  Speaker 2: I was I was uneducated about this. Facebook is not
• 3:56
  Speaker 2: dead and you have a way better chance you get
• 4:00
  Speaker 2: you can you can go viral. You can go viral
• 4:02
  Speaker 2: easy on Facebook than you can on on Instagram.
• 4:05
  Speaker 6: Like we go.
• 4:06
  Speaker 3: It's easy to go viral on TikTok though, no.
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  Speaker 6: That's a fact.
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  Speaker 2: But Facebook, we got videos, but like nine hundred thousand,
• 4:12
  Speaker 2: but a million five Our number one video on Facebook
• 4:16
  Speaker 2: has five million views. We don't have any We don't
• 4:18
  Speaker 2: have any video on Instagram, even though we have a
• 4:21
  Speaker 2: way bigger presence on Instagram and we're way stronger on Instagram.
• 4:25
  Speaker 2: So I would I would just encourage content creators not
• 4:29
  Speaker 2: to give up on Facebook. Yeah, yeah, it's still a way.
• 4:31
  Speaker 2: It's still still it's still the biggest platform.
• 4:33
  Speaker 6: That's by far. I mean they have two billion users.
• 4:35
  Speaker 5: But here's the thing, right, that core demographic that we're
• 4:38
  Speaker 5: talking about that is watching those five million views is
• 4:40
  Speaker 5: twenty five to forty five. Soon their age out of
• 4:42
  Speaker 5: that group, who's the next group coming in? If that
• 4:44
  Speaker 5: group is inconsistent with staying with you, then you're gonna
• 4:47
  Speaker 5: lose an audience.
• 4:48
  Speaker 3: Right.
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  Speaker 5: If we're talking about fifty percent of clines and teenagers,
• 4:50
  Speaker 5: those teenagers will become adults. And so if you don't
• 4:52
  Speaker 5: have those people coming to your site, then how do
• 4:55
  Speaker 5: you app you sell the ad dollars?
• 4:57
  Speaker 3: Right?
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  Speaker 6: Because most of their money's man is not as clain
• 4:59
  Speaker 6: and good as you. You see what I'm saying.
• 5:01
  Speaker 5: So like when you have when you have like TikTok,
• 5:03
  Speaker 5: which is obviously taken over for the young adults, it
• 5:06
  Speaker 5: becomes tougher for you to sell ad dollars when you
• 5:08
  Speaker 5: know the audience's declined.
• 5:09
  Speaker 6: How do you now pitch it to a company and then.
• 5:11
  Speaker 3: An interesting space because they're in the middle.
• 5:13
  Speaker 4: Like, so the Trump's thing that he wants to create
• 5:16
  Speaker 4: one polar opposite. TikTok is at another and Facebook is
• 5:20
  Speaker 4: in the middle. So you can't really have an edge
• 5:23
  Speaker 4: if you're not really catering to anyone. The thing like
• 5:25
  Speaker 4: when me and Todd first got on there, what was
• 5:27
  Speaker 4: that IU was like for college people only it was
• 5:29
  Speaker 4: almost like an honor to be on there. Yeah, now
• 5:32
  Speaker 4: anyone can be on content is and as good.
• 5:35
  Speaker 3: The Russia thing, that was a smoke of mirrors campaign
• 5:39
  Speaker 3: more than anything.
• 5:39
  Speaker 4: But when you factor that end the whistleblower, like, they're
• 5:42
  Speaker 4: putting so many things in play right now to take
• 5:45
  Speaker 4: them down. It's a coordinated attacking is working, but they
• 5:47
  Speaker 4: have to clean up the platform and they haven't taken
• 5:49
  Speaker 4: a strong stance.
• 5:50
  Speaker 5: On who this is for over the last four or
• 5:53
  Speaker 5: five And even I know some people are like, well,
• 5:54
  Speaker 5: it doesn't Facebook on Instagram.
• 5:55
  Speaker 6: Yeah, they on Instagram.
• 5:57
  Speaker 5: But even in their reports, like even to that he's
• 5:59
  Speaker 5: there seeing declines in the usage of Instagram, which is
• 6:02
  Speaker 5: why they try to create Instagram Team.
• 6:05
  Speaker 6: But then they had the.
• 6:07
  Speaker 4: Easy questions go ahead, raise or put yes and chat
• 6:10
  Speaker 4: if you've enjoyed using Instagram over the last year.
• 6:14
  Speaker 3: Now, if you've been on TikTok.
• 6:15
  Speaker 4: Or YouTube, which is easier to use YouTube versus IG
• 6:20
  Speaker 4: or TikTok versus ig. We're seeing a change in of
• 6:24
  Speaker 4: the guard and they need to acquire something else, not
• 6:25
  Speaker 4: a metaverse.
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  Speaker 3: Thing could be very fascinating.
• 9:19
  Speaker 6: Yeah, so speak speak about that.
• 9:21
  Speaker 3: Let's get into this conversation.
• 9:22
  Speaker 2: So one of the reasons why Facebook is considering changing
• 9:25
  Speaker 2: his name is because kind of like Google with alphabet,
• 9:29
  Speaker 2: they want to have all of the things. It's already
• 9:32
  Speaker 2: under one umbrella, but you know it's so Facebook owns Facebook, Instagram,
• 9:37
  Speaker 2: and WhatsApp. So a name change would you know, have
• 9:40
  Speaker 2: all of that, you know, vertical entities under one umbrella.
• 9:45
  Speaker 2: But then also moving towards the metaverse. Shout out to
• 9:49
  Speaker 2: nineteen key, I know he spoke about that at Vesfest.
• 9:52
  Speaker 2: The metaverse something that we spoke about a few different times.
• 9:57
  Speaker 2: When you talk about the world of augment every reality,
• 10:01
  Speaker 2: when you talk about, you know, the oculus that they
• 10:05
  Speaker 2: have with the glasses, artificial intelligence, this is something that
• 10:11
  Speaker 2: you know, Mark Zuckerberg is fully, fully focused on. This
• 10:14
  Speaker 2: is my own personal opinion. I think that all right,
• 10:18
  Speaker 2: we see Elon Musk is kind of like carving out
• 10:21
  Speaker 2: his niche in space and electric cars, like everybody's kind
• 10:24
  Speaker 2: of carving out their niche. So I think he sees
• 10:27
  Speaker 2: this as an opportunity to brand Facebook as the face
• 10:32
  Speaker 2: of the metaverse, augmented reality type of vibe. What do
• 10:37
  Speaker 2: you feel about that?
• 10:38
  Speaker 5: I'm just so everything you just named it makes it
• 10:40
  Speaker 5: even clearer. Right, who's already in that space? Who's a
• 10:44
  Speaker 5: playing in that area?
• 10:46
  Speaker 6: Teams? Right, young adults? How do I appeel to them?
• 10:50
  Speaker 5: I got to go to what they're doing, right, So
• 10:52
  Speaker 5: they're already playing in the roadblocks and they already they've
• 10:55
  Speaker 5: been accustomed to this. Well, how do I attract a
• 10:57
  Speaker 5: younger audience to now use them as my customers going forward?
• 11:01
  Speaker 6: I have to be in it like he sees it.
• 11:03
  Speaker 5: You can see it clearly right, my demographic of core
• 11:06
  Speaker 5: audience is getting older. They're thinking that with the grandparents
• 11:09
  Speaker 5: of this thing, how do we get younger? Maybe rebranded,
• 11:13
  Speaker 5: maybe target the people who we know are in the space,
• 11:16
  Speaker 5: obviously young teams and adults.
• 11:18
  Speaker 3: It is a it can be.
• 11:20
  Speaker 4: This reminds me of when Steve Jobs came back and
• 11:25
  Speaker 4: they went on the run with iPods. Because now if
• 11:28
  Speaker 4: you rebrand the company, because you already have the hardware
• 11:30
  Speaker 4: in place, you have the uses. And for all my
• 11:33
  Speaker 4: business owners, this is why it's so important. You need
• 11:35
  Speaker 4: to have a strong customer base. The two billion people
• 11:38
  Speaker 4: on the platform probably three hundred billion, I means three
• 11:41
  Speaker 4: hundred million could be in a metaverse and once they're there,
• 11:44
  Speaker 4: like I always thought they should have been acquired Fortnite,
• 11:48
  Speaker 4: Like you need a game and entity to drag them in.
• 11:50
  Speaker 4: Because every brand needs the youth. This is why hip
• 11:53
  Speaker 4: hop is so important. Like once you use lose the
• 11:55
  Speaker 4: youth culture, you don't have that much of an edge.
• 11:58
  Speaker 3: So that if they can mass to getting.
• 12:00
  Speaker 4: The metaverse down the way Pe dropped his school, Facebook
• 12:07
  Speaker 4: will go on a historical Apple rebrand, like in every brand,
• 12:10
  Speaker 4: you have to This is why From a business perspective,
• 12:14
  Speaker 4: I'll tell you I focus on mastering price because without that,
• 12:18
  Speaker 4: I don't have the sharpest sword. So Facebook went through
• 12:21
  Speaker 4: five or six years when they didn't have a competitive advantage.
• 12:23
  Speaker 4: If they get this metaverse down with that user base,
• 12:27
  Speaker 4: with already having at hardware, and.
• 12:28
  Speaker 3: If you use Oculus, Oculus is beautiful.
• 12:31
  Speaker 4: People average game and time and they'll probably be anywhere
• 12:34
  Speaker 4: from two to three hours today.
• 12:36
  Speaker 2: They'll make a help of you don't want to live
• 12:38
  Speaker 2: in although although keys just say the HoloLens of Microsoft
• 12:42
  Speaker 2: makes Oculus look crazy people to the movie theater.
• 12:45
  Speaker 3: Yeah, people just don't know about it that scale yet.
• 12:48
  Speaker 4: Yeah, I mean obviously and Microsoft never done social well, right, but.
• 12:52
  Speaker 6: They they're like kind of the first in that space.
• 12:53
  Speaker 5: Right, is kind of a big device to put on
• 12:56
  Speaker 5: your face, and so like, yeah, that was the first person.
• 13:00
  Speaker 6: How can we make it better, Let's make it small less.
• 13:01
  Speaker 2: But well they team that were ray Band, that's true,
• 13:04
  Speaker 2: and now they're gonna it was like ninety nine dollars.
• 13:07
  Speaker 2: So yeah, Facebook, if you didn't know, Facebook team that
• 13:09
  Speaker 2: were ray Band, and they're gonna release kind of sunglasses
• 13:12
  Speaker 2: or the Oculus.
• 13:12
  Speaker 3: Oculus is like a huge thing.
• 13:14
  Speaker 2: But these these ray band glasses posted on Instagram a
• 13:17
  Speaker 2: few weeks ago the ra class they look like regular
• 13:19
  Speaker 2: ray bands. So this is something that you know, it
• 13:23
  Speaker 2: could it could give Facebook, you know, a second win,
• 13:26
  Speaker 2: because you're right, they are in trouble with How I
• 13:28
  Speaker 2: how I know that they're in trouble is my son.
• 13:31
  Speaker 2: We was driving this weekend and we was in the
• 13:34
  Speaker 2: city and he was asking me to go to this
• 13:36
  Speaker 2: this restaurant and I'm like, why do you want to
• 13:38
  Speaker 2: go to that restaurant? And I realized the reason why
• 13:40
  Speaker 2: he asked to go to it is because he saw
• 13:42
  Speaker 2: it on TikTok. And if you ever, if you're on TikTok,
• 13:45
  Speaker 2: all of these videos of like rooftop New York City,
• 13:49
  Speaker 2: like you know what I'm saying with that voiceover thing,
• 13:51
  Speaker 2: but this is how what I realize is that I
• 13:53
  Speaker 2: don't know, but that's your voices. What I realized is
• 13:56
  Speaker 2: that this is how people are actually this is like
• 13:59
  Speaker 2: the new Yellow Pages, like this is how people are
• 14:01
  Speaker 2: finding businesses, restaurants, all of that. So TikTok that is
• 14:06
  Speaker 2: actually brilliant because that's like the new Yelp, like people
• 14:08
  Speaker 2: is actually going on there and whatever is trending that
• 14:11
  Speaker 2: becomes a destination of like, yo, I gotta go there,
• 14:13
  Speaker 2: I gotta go to Hoboken, New Jersey to look at
• 14:16
  Speaker 2: this rooftop that's overlooking the city. Because even I look
• 14:19
  Speaker 2: at the videos like damn, I'm I'm gonna go to
• 14:21
  Speaker 2: this restaurant.
• 14:22
  Speaker 6: Is no, it's very key.
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  Speaker 2: My graduates from my school being forced back drop bag drop, Mike, drop.
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  Speaker 3: Back drop drop.
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