Recently, the Indian government has banned very famous video sharing social media networking services “TikTok” along with other 58 apps whose origin was China after the rising tensions between India and China.
The IT Ministry said it has invoked its power under section 69A of the IT Act and rules and has decided to block 59 apps given the information available that they are “engaged in activities which are prejudicial to sovereignty and integrity of India, defense of India, the security of the state and public order”. This, of course, has shattered it’s a million users and no doubt considering the customer base it had created in India(around 120 million in 2019). They have also reported a loss of USD 6Billion.
So, let’s get into what we can learn from this!
1) As they say “Don’t put all your eggs in one basket” the same goes not only for creators but also for investors out there, by making all investments in one place you might be putting yourselves at a very high-risk zone! Even if you still plan to do this make sure that is less than 50% of your full investment
2) For creators, when you are looking for other alternatives make sure your platform matches your deliverables and henceforth your audience. For example- funny videos are best suited for Facebook/Instagram otherwise that might hamper your lot of efforts.
3) Don’t believe too much in anything because the times we are living in are highly sensitive, so, it’s always better to keep looking for other opportunities. Not just creators, but also in our day-to-day life!
4) After the TikTok ban, many creators have incurred huge losses, so always be ready to face the consequences. With a ban on other apps like- Shein and Club factory, thousands of employees have lost their jobs!
5) To avoid any big mishap in the future, you should always calculate your risk beforehand. Not only for creators but also investors, you should be aware of how much risk you are willing to take and up to what extent!
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