Facebook faces intense competition from iMessage and TikTok

Mark Zuckerberg, who has been shaken by revelations by reports that have put Facebook under a microscope, has another problem to solve — keeping the social media platform relevant to young adults. The CEO has said that he has redirected teams within the company to “make serving young adults their north star rather than optimising for the larger number of older people”.

He said in an earnings call: “Like everything, this will involve trade-offs in our products, and it will likely mean that the rest of our community will grow more slowly than it otherwise would have. But it should also mean that our services become stronger for young adults. This shift will take years, not months, to fully execute.”