povioFace it: Facebook isn’t cool anymore. Like anyone and anything that’s grown up – and in Internet years Facebook is a veritable grandpa – it has responsibilities. It can’t just grow its user base anymore; it has to get out of the house, chart its own path, and earn a living. By doing so it’s lost touch with its childhood friends, the younger generation that put the social network on the map. If you’re young and your mom, dad and your skeevy uncle Mort are on Facebook and trying to friend you, you’re probably looking for a new hangout.

You wouldn’t be the only one. A recent study by Piper Jaffray found that Facebook use among teens is declining while the king of pith, Twitter, is quickly gaining. Thirty-three percent of the 5,200 teens surveyed named Facebook as their No. 1 go-to social network, while Twitter wasn’t far behind with 30 percent. Twenty-two percent reported that Youtube is their favorite social network, and 17 percent prefer Instagram. Suddenly social networks have gone from winner-take-all to a wide open competition, and that means opportunity for new upstarts – like the newly launched Povio (it stands for “point of view”), a mobile communications app that has users play “photo Ping-Pong.” Twitter used to ask “What are you doing” then switched to “What’s happening,” and now dropped both in favor of he rather drab “compose tweet.” Povio on the other hand wants you to shoot a photo from your point of view and share it.

Doesn’t make sense? That’s okay, it will. Just watch the video below of my interview with the company’s CEO, Jugoslav Petkovic, which I recorded at Jason Calacanis’ Launch Festival. He’ll explain everything.