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And instead of playing to their strengths, IG tries to jump and chase a competitor. Doesn't look like a very smart move

IG jumped and chased Snapchat with stories and that was an incredibly smart / successful move.

The same strategy isn't panning out with reels, for whatever reason.

I think it's because they complement better. To be fair, "stories"/snaps are not a product, they are a feature.

Reels/Tktks involve a different type of content producer than regular stories. On that side, it is "closer" to YT than regular IG

And that I think is the impedance mismatch between IG and the Reels side

Youtube seems to have done really well with that strategy, Shorts seems like a pretty well used feature.

I really hate it, but maybe I'm old now.