The Billionaire Battle Continues
Earlier this month, billionaire counterparts Elon Musk and Mark Zuckerberg incited some friendly social media banter, proposing a mixed martial arts fight between themselves. With the likes of UFC chairman Dana White expressing the realistic possibility of such a fight, several shareholders and fans have become excited about the idea of a Silicon Valley brawl. Outside of the octagon, controversial changes from Musk-owned Twitter have stirred headlines, such as their recently imposed post-viewing limit. Amidst these negatively perceived adjustments, Zuckerberg-led Meta announced their new direct competitor to the longstanding leader. Nicknamed “Threads”, the new Meta-owned microblogging app is set to release this Thursday, hoping to catch several ex-Twitter users who don’t approve of the leadership changes.
Since the company’s ownership was transferred to Musk last year, Twitter has faced a multitude of internal and external issues that have threatened its top-line figures. Younger competitors in the broader social-media space such as Instagram and Tik-Tok have effortlessly overpassed Twitter in users. Now, in the blogging space, Threads plan to tackle Twitter and other big names to capture market share. Built from Instagram’s user base, Threads will certainly be able to capture a portion of Instagram’s 2.35 billion monthly users, hoping to attract customers with the familiar microblogging concepts of reply threads and user-to-user communication. Already dubbed the “Twitter killer”, Threads will most likely offer fairly undifferentiated features but with its main value proposition tied to its compatibility with Instagram, with customers keeping their usernames and followers. As Meta’s new app is unveiled, the tech-fueled cold war will escalate alongside Musk and Zuckerberg doing all they can to win over shareholders.
Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.