Elon Musk Fires Back: Twitter Vs. Meta Battle Heats Up — Competition Or Cheating?
Portfolio Pulse from Ananya Gairola
Elon Musk has responded to reports of Twitter's intention to sue Meta Platforms Inc. for allegedly poaching its employees to create the Threads app, which closely resembles Twitter. Musk stated that while competition is acceptable, 'cheating' is not. This comes after Meta's Twitter clone went live and attracted almost 7.5 million users within five hours. However, concerns have been raised about the data collection policy on Threads, given Meta’s Facebook's controversial history.
July 07, 2023 | 2:00 am
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Meta Platforms Inc. is facing potential legal action from Twitter, which could lead to reputational damage and financial implications. However, the launch of its Threads app has seen significant initial user uptake.
The potential lawsuit from Twitter could negatively impact Meta's reputation and finances. However, the strong initial uptake of the Threads app indicates a positive user response, which could offset potential negative impacts. The data collection concerns could also negatively impact user trust and adoption.
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IMPORTANCE 75
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