TikTok Ban Winners and Social Media Changes: Kiplinger Economic Forecasts
Our analysis of the massive social media cross-platform shake-ups.
![Social media tsocial media team holding thumb up love speech bubble and smile signs](https://cdn.mos.cms.futurecdn.net/qCsxqzX5G9aiNrEMBMDLFg-415-80.jpg)
Social media platforms Facebook, Instagram, TikTok, Twitter and LinkedIn are huge parts of our lives, but they are huge businesses in their own right that play a big part in the economy. Our highly knowledgeable Kiplinger Letter team will update you on all the important developments in this market (Get a free issue of The Kiplinger Letter or subscribe). Here’s the latest forecast…
One way to identify the biggest winners from a potential TikTok ban is to look at other platforms popular with TikTok users.
Instagram is the most popular, with 73% of TikTok’s U.S. users also using Meta’s (META) widely popular photo-sharing app, according to December 2022 data from eMarketer.
![https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-200-80.png](https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-320-80.png)
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Meta-owned Facebook comes in second, with 64%, followed by Pinterest (55%), Snapchat (53%) and LinkedIn (42%). Facebook, Instagram and Snapchat come closest to replicating TikTok’s short, viral video posts. Alphabet’s (GOOGL) YouTube also has very similar short videos. In fact, many TikTok videos are shared on other social media sites, showing the power of the China-owned app.
Though TikTok users would be irked by a U.S. ban or other crackdown, there are plenty of alternatives that would snap up consumers’ time. Ad dollars would likely follow, as would many popular creators who post videos.
LinkedIn changes: good news for employers
Hiring managers will benefit from LinkedIn’s new free verification process. It should make it easier to vet candidates because both a user’s identity and current place of employment will be authenticated via a government-issued ID and a work email address.
The experiment is powered by tech from Microsoft (MSFT), LinkedIn’s parent company, to ensure profiles are genuine and to fend off scams and identify fraud. Boosting trust and security on the 900 million-user website will push other social networks to follow suit.
Facebook’s verification tool
Meta-owned Facebook has a similar tool that runs $12 per month for users to verify their identity and get additional features.
Meanwhile, Twitter’s changes to its "blue tick" verification system are drawing criticism, as the company overhauls the old method of authentication and pushes paid versions. It may get harder to distinguish who is genuinely authenticated and trustworthy, a potential problem for local governments and others that use Twitter to communicate.
This forecast first appeared in the The Kiplinger Letter. Since 1925, the Letter has helped millions of business executives and investors profit by providing reliable forecasts on business and the economy, as well as what to expect from Washington. Get a free issue of The Kiplinger Letter or subscribe.
Read more
- Mystery Shopping Scam hits LinkedIn
- Can You Trust TikTok's Advice?
- Meta Warns of ChatGPT Scams on Facebook and Instagram
- Snap IPO: The Next Facebook or Another Twitter?
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
The Kiplinger Letter editors are a team of seasoned reporters and editors who specialize in different subject areas. They uncover emerging trends and foresee future developments that will affect the economy, financial markets, specific industries, and ultimately, your business, investments and financial affairs. For over a century the Kiplinger Letter's team has provided concise weekly forecasts on business and economic trends, as well as what to expect from Washington.
-
Visa Is the Worst Dow Stock Wednesday. Here's Why
Visa stock is down sharply Wednesday after the credit card company came up short of revenue expectations for its fiscal Q3.
By Joey Solitro Published
-
Another Analyst Moves to the Sidelines on Tesla Stock After Earnings
Tesla stock is spiraling Wednesday after the EV maker's big earnings miss and Wall Street has been quick to weigh in. Here's what you need to know.
By Joey Solitro Published
-
Car Prices Are Finally Coming Down
The Kiplinger Letter For the first time in years, it may be possible to snag a good deal on a new car.
By David Payne Published
-
Rising Cyber Threat of AI: The Kiplinger Letter
The Kiplinger Letter Security experts warn that generative AI brings new risks with no clear defenses. With AI's rapid adoption, businesses are vulnerable.
By John Miley Published
-
Kiplinger Special: The Long-Term Future of the U.S. Economy
The Kiplinger Letter Kiplinger's report into what it will take the U.S. to maintain a healthy economic growth rate.
By David Payne Published
-
The Fight Against Cancer Enters a New Phase
The Kiplinger Letter Breakthrough treatments hold promise for patients and investors.
By Matthew Housiaux Published
-
After Decades of Promise, the Virtual Reality Era Has Finally Arrived
The Kiplinger Letter VR is a paradigm shift for consumer technology. The tech has a long road ahead, but amazing hardware already puts the huge potential on full display.
By John Miley Published
-
Fed Rate Cuts Still on Hold
The Kiplinger Letter With inflation stubbornly elevated, the Federal Reserve will keep interest rates high for now.
By David Payne Published
-
AI to Power the Next Generation of Robots
The Kiplinger Letter There's increasing buzz that the tech behind ChatGPT will make future industrial and humanoid robots far more capable.
By John Miley Published
-
A Spotlight on the Pacific States: The Kiplinger Letter
The Kiplinger Letter Most Pacific states are seeing good job growth in multiple sectors including tourism, hospitality, and construction.
By David Payne Published