Instagram's Adam Mosseri explains how normal people simply aren't sharing as much in public as they used to.

They don't have the same private ... preference shift long ago. Instagram said young users continue to use fake Instagram accounts, also known as a "finsta," or "dump account," to share posts ...

so not everyone can see your private content. “The behavior described here is the same as taking a screenshot of a friend’s photo on Facebook and Instagram and sharing it with other people ...

He said that what people share on Instagram is already shifting to videos over time, and Instagram will "have to lean into that shift while continuing to support photos." Instagram is ...

And why is Instagram focused on getting people to share photos ... How does that shift affect the business of Meta? It moves more and more of that friend content into private experiences.