In the past four years, L2 has gathered 850 data points across 5,000 brands’ digital footprint. Based on that, L2 is making a series of predictions about how digital will shape the economy. In this first video, Scott Galloway says Instagram will become the world’s most powerful social platform because of its visual and mobile roots. Humans have been listening to each other for thousands of years and reading words for hundreds of years. On the other hand, we have been reading visuals for thousands of years, and absorb visuals 50x faster than words.
The resonance of visuals manifests itself in Instagram’s growth. The fastest growing platform has 200 million users and an engagement of 1.5%, which is 15x Facebook's 0.01 engagement rate. Galloway says an algorithm based on community size and engagement would show Instagram to be the most powerful social platform.