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The Fediverse is getting its own TikTok competitor called Loops
(techcrunch.com)
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Self hosting isn't really compatible with viral content, you do something that blows up and either get the hug of death or go bankrupt from the bandwidth costs.
Maybe the problem in that equation is the expectation of virality and not self hosting?
We are talking about a TikTok alternative. If getting as many people as possible to see your stuff isn't your goal, then why would you post it in the first place?
Making your content go viral is pretty much literally the only point.
Virality is nowhere near the only reason for posting videos. People post them to make jokes, teach something, reply to someone else, etc, or all the same reasons someone might make a blogpost or a post on a link aggregator.