5 months ago • 2 mins
What’s going on here?
Meta’s taking the fight to Twitter, with a new, uncannily similar app called Threads.
What does this mean?
Love him or hate him, most people wouldn’t want a job on Elon Musk’s PR team. After all, it’s been one controversy after another since the tycoon took over Twitter. His relaxed approach to content moderation and the new subscription fee for verified accounts first raised eyebrows. And limiting the number of posts users can view – supposedly to ease server strain – has only pushed those furrowed caterpillars further up folks’ foreheads this past weekend. Now Meta, ever the opportunist, has smelled blood in the water: the tech giant is set to launch Threads this week, a platform linked to Instagram where users can publish, share, and reply to text-based posts. Somehow, it all sounds a little familiar…
Why should I care?
The bigger picture: Something borrowed.
Twitter’s dominance in the social media space has been challenged before, with attempts like Jack Dorsey’s Bluesky and Donald Trump’s Truth Social failing to take off. But Meta has a history of making copycat products succeed. After all, it essentially copied the “stories” feature from Snap back in 2016 – and now more people use that format on Meta’s apps than use Snapchat. And that’s not to mention its “reels”, eerily similar to TikTok videos, which have been driving growth lately too. If Threads is an equally successful knockoff, it might just be a game-changer.
Zooming out: The star factor.
Let's be real: there's only one thing keeping folk on Twitter, and that’s the people they follow. Yes, Meta’s got a few strengths, like its uber-powerful infrastructure and its existing suite of apps, but to truly mount a challenge, it needs star power – and Instagram’s horde of celebrities and influencers could be the key. With that in mind, Musk might need to use all his clout to prevent his $44 billion purchase from turning to dust.
Disclaimer: These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment advisor.
/3 • Your free quarterly content is about to expire. Uncover the biggest trends and opportunities. Subscribe now for 50%. Cancel anytime.