How much threat does TikTok pose to Facebook?

For a long time, human social media platforms were divided into two types: one was Chinese, and the other was American.
Based on the share of American social media in the world, it can also be said that one is Chinese and the other is global.
Later, for a short period of time, this classification was vaguely inserted into the "third party" - the social media platform controlled by Chinese enterprises that went global in the United States.
It's TikTok.
The reason why TikTok is independent is that its overseas development speed is really beyond many people's expectations, and in terms of the trend, it has the potential to "take the lead".
However, with the news that American enterprises like Microsoft and Oracle are going to buy shares or "acquire" TikTok, after a series of disturbing games, social media platforms have changed back to two types: Chinese and American.
In any case, on the current overseas social networking sites, a four legged situation has gradually formed: Twitter, which is now owned by Musk, the four King Kong (Facebook, Messenger, WhatsApp and Instagram) owned by Facebook, which has been renamed Meta, TikTok, which is theoretically a byte, and Youtube, which was sold to Google in 2006.
Without looking at the data, you can also feel that YouTube has gradually been marginalized by the market and lost its original competitiveness.
However, Twitter's position in micro blog based social networking has always been stable, even unique.
At present, no alternative products have been found that can shake its position.
In contrast, Meta and TikTok have direct competition not only in product categories, but also in market scale.
Therefore, many foreign media recently used the words "challenge" and "threat" when analyzing Meta and TikTok.
In fact, will TikTok now and in the future really pose a threat to Meta? If so, what is the threat? We might as well make a comparison from multiple perspectives.
First, in terms of market capitalization.
As of the closing on May 10, US Eastern Time, the market value of Meta Platforms has reached 534.9 billion US dollars;
While TikTok's parent company, Byte, has not yet been listed, but according to the estimates given by major international investment banks, it is about $1400-353 billion.
That is to say, the market value of Meta is about twice of the byte valuation.
However, if we conduct in-depth analysis, we will find that Facebook has been declining since it broke through the trillion dollar mark at the end of June and the beginning of July 2021, and nearly half of it has evaporated.
The decline of market value is not terrible, but the reason is that Meta's performance has failed to meet expectations for many times.
On the contrary, the valuation of bytes at the end of 2021 will increase by $80 billion compared with the end of 2020, and by 2022, the latest valuation will increase by $30 billion.
Recently, after the news of Tiktok's listing, the external valuation of Tiktok alone has soared to $200 billion.
According to the three pillars (Tiktok, TikT