A new survey by PiperJaffray shows that Facebook is no longer the dominant social media platform among teens. Says one girl, “It’s like the mom and dad version of Instagram and Twitter.” Now, Instagram and Twitter are the primary forms of social media among this important demographic. From a financial perspective, you would think that this would spell doom for Facebook except for one thing: Facebook owns Instagram.

If you want to read more about the habits of teens in America these days, read this.