Mignano: Facebook's pivot to recommendation media creates room for new social giants
Mike Mignano · Michael Mignano: How I Founded Anchor; Why TikTok could be a $2 TRILLION Company | 20VC #923 · 20VC with Harry Stebbings · Sep 7, 2022 · at 19:49
Michael Mignano, Partner at Lightspeed Venture Partners and former Spotify Head of Talk, discusses the shift away from social graphs in consumer tech.
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“And I think as a result, there's going to be sort of this vacuum of social experiences, true social experiences. And so I think if ever there was a time for a new startup to emerge, to create a great new groundbreaking social network or social experience, now is the time. I mean, literally the most iconic social media company of the past 15 years, Facebook, literally just walked away from their social graph, right? They're pivoting to recommendation media. They've been Very, very public about this, and so if there was ever a time to place a contrarian bet and lean into being the next big social platform, this is probably that time.”
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