Facebook vs MySpace
In the mid-2000s, MySpace became popular worldwide. But it's too messy, users can change the CSS page themselves, it looks like a garbage dump. Facebook quickly killed MySpace with its real name and simple design.
Facebook vs Other
Later, Google created Google+to challenge Facebook, burning billions, but ultimately shut it down. Tencent Weibo and Sina Weibo fought, and in the end Sina won. Renren copied Facebook and eventually died.
Why are there only a few giants left on social media platforms
Because socializing is also a network effect. You have to go to whichever platform your friends are on. It's difficult to attract people to the new platform. In the end, there were only one or two giants left in each country. WeChat in China, Facebook/Instagram in the United States, TikTok worldwide.
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