How can Facebook and other social media giants break the competition dilemma created by TikTok?

Photo source: Blake Chandlee, President of TikTok Global Business Solutions, worked under Mark Zuckerberg for more than 12 years before joining the company.
Last month, when asked whether he was worried about the competition from existing social media platforms such as Facebook, he said: "Facebook users will take great pains to establish social networks with friends, family members and other acquaintances.
Facebook has also built platform algorithms based on this.
TikTok is just an entertainment platform, which is significantly different from Facebook." He seems to be responding to Facebook's recent actions.
Last year, Facebook launched Reels, a short video feature designed to benchmark TikTok style short video content.
In an internal memo this spring, Tom Alison, a senior manager of Facebook, announced a plan to update the information flow recommendation method of the platform, so that users can pay more attention to the short video content of the platform, and display the most attractive content by adjusting the algorithm, even though the recommended content is likely to be "irrelevant" to the account that users have added friends or followed.
From this point of view, Facebook, which has long focused on image and text dynamics, seems to be making innovations in response to difficulties.
Given the amazing popularity of competing products, the transformation made by Facebook is reasonable, but it may also be short-sighted: if such traditional social media platforms cannot maintain their own social attributes, the transformation may eventually fail.
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The past and present lives of the game breakers should understand the current predicament of Facebook, and perhaps trace back to the origin of its initial success.
After all, history is always strikingly similar.
Time came to 2004, when Facebook was called The Facebook Com, people learned about this website through social relations, and registered their own accounts one after another;
At the end of 2006, the year Facebook opened to the public, the platform had gathered 12 million active users.
At that time, the network effect advantage made it difficult for competitors to show up;
Two years later, when Facebook reached 100 million active users, it became even more difficult to compete with it - users' social relations had been established on Facebook, and people would not choose to register other new platforms specifically to contact with acquaintances.
Seeing the rise of tall buildings, the latecomers also wanted to share.
The next major change in using social networks to create user engagement is triggered by Twitter.
For Twitter, the key event in 2009 is not related publicity activities, but the launch of "retweeting" function.
This adjustment was originally intended to simplify the process, so that users could avoid the daily practice of manually cutting and pasting interesting tweets, which ultimately changed Twitter's competitive position.
By eliminating the path obstacles in the process of forwarding content, the forwarding function enables the platform tweets to reach a large number of audiences in a short time.
Facts prove that one click forwarding