Zuckerberg and Musk’s feud has spilled outside of the realm of social media. Earlier in July, an attorney for Twitter threatened to sue Meta, accusing the company of stealing Twitter’s "trade secrets and other intellectual property" by hiring former Twitter employees to create Threads-accusations Meta has denied. Twitter has also suffered major outages and mass layoffs in recent months. The company has made a number of controversial decisions since Musk took over, including implementing a temporary limit to the number of tweets a user can see in one day and turning the platform’s user verification system into a for-purchase membership. Under Musk’s controversial leadership, the company has fallen to a value of $15 billion-about a third of the $44 billion he paid for it-as of May, according to Fidelity. Meta launched the app during a moment of turmoil for Twitter, which billionaire Elon Musk purchased in October. “Twitter has had the opportunity to do this but hasn't nailed it. “I think there should be a public conversations app with 1 billion+ people on it,” Zuckerberg wrote in a post to his new app. Meta CEO Mark Zuckerberg has made clear Threads is his company’s attempt to poach the market long enjoyed by Twitter. However, Sensor Tower said it hasn’t seen a material change in Twitter’s traffic since Threads’ launch. During the first two days after Threads’ launch, Twitter’s web traffic was down 5% compared to the previous week, the Journal reported. With over 2 billion monthly users, Instagram’s popularity likely helped create the surge in early sign-ups for the platform. Threads launched July 5, allowing users to sign up using their accounts from Meta’s other social media platform, Instagram.
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