Home / Tech / News / Facebook vs Apple vs TikTok: Chance to make lots of money as Mark Zuckerberg opens purse strings

Facebook vs Apple vs TikTok: Chance to make lots of money as Mark Zuckerberg opens purse strings

Facebook vs Apple vs TikTok: Mark Zuckerberg believes that massive rewards will ensure great content creators are attracted to Facebook and Instagram and that will keep the social network far ahead of his rivals.

Facebook vs Apple vs TikTok: In this war, the company that spends the most on the best talent available, has the greatest chance to stay ahead. Facebook vs Apple vs TikTok: In this war, the company that spends the most on the best talent available, has the greatest chance to stay ahead.
Facebook vs Apple vs TikTok: In this war, the company that spends the most on the best talent available, has the greatest chance to stay ahead. (REUTERS)

As competition with rivals like Apple, TikTok and others gets fiercer to attract the public's eyeballs by creating great products, Facebook CEO Mark Zuckerberg is opening his purse strings and is looking to hire some really standout resources. So, if you fit the bill, here is your chance to make lots of money. The Facebook CEO has vowed to pay as much as $1 billion to creators who manage to deliver projects that are streets ahead of his rivals. That is a huge amount of money and not many can match that kind of spend. While Apple may have a purse as big as Facebook or perhaps bigger, TikTok is a johnny-come-lately and may not be able to outspend both these tech giants.

Facebook is looking for those who can create content for it and its other companies like Instagram. So, what is on offer? USA Today quoted Zuckerberg as saying, "We want to build the best platforms for millions of creators to make a living, so we’re creating new programs to invest over $1 billion to reward creators for great content they create on Facebook and Instagram through 2022."

Also read: Looking for a smartphone? Check Mobile Finder here.

More From This Section

Facebook has seen competition rise phenomenally as other companies have rolled out great features that the public has loved and taken to en masse. To ensure that his companies do not get left behind, Zuckerberg is looking to develop standout new content that can be equally or more alluring to large sections of the global population. The impact of not doing so, will see rivals nibbling away at Facebook's market share in an effort to make it redundant.

How serious is Zuck? To ensure that Facebook stays far ahead of its rivals, Zuckerberg is even willing to forego revenue that can be derived from creators. In June, Zuckerberg announced that Facebook will not take a cut of the revenue that creators on its platform make till 2023. To put things in perspective, Apple takes a 30% cut.

Another approach to lure creators was made by Facebook in April for its other platform, Instagram. It announced the creation of a marketplace where creators will be paired with brands to reach and sell directly to consumers through Instagram profiles.

The demand is definitely very strong for the right people with great ideas and ability to implement what they dream up. For creators, this is definitely a good space to be in going forward.

Follow HT Tech for the latest tech news and reviews, also keep up with us on Twitter, Facebook, and Instagram. For our latest videos, subscribe to our YouTube channel.