Every day, billions of people log onto Facebook and Instagram to share the highs and lows of life, can anyone here let me know how can I make a similar social media platform like this?

I think these social media platforms are successful also because of first mover advantage. It's hard for you to beat them faster than they can adapt whatever new feature you can think of into thier existing platform.

Even if you can do it technically, there's no point.

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The network effect is such that nobody will leave the established platforms which everyone else is already using, to use some obscure platform.

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