Elon Musk Pushes Twitter Staff To Ship Better Features 'Faster Than Ever' To Counter Zuckerberg's Threads Threat
Portfolio Pulse from Rounak Jain
Elon Musk is pushing Twitter staff to develop better features to compete with Meta Platforms Inc.'s Threads. This comes as Threads reached 100 million users in five days, and Twitter's traffic fell by 5% in the first two days of Threads' launch. Musk's decisions since acquiring Twitter have been criticized, and his employees have reportedly said 'Threads is just better'.
July 13, 2023 | 9:37 am
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POSITIVE IMPACT
Meta's Threads app has quickly gained popularity, reaching 100 million users in five days. This has negatively impacted Twitter's traffic, potentially boosting Meta's position in the market.
The rapid user growth of Meta's Threads app and the corresponding decline in Twitter's traffic suggests a shift in user preference. This could potentially boost Meta's stock in the short term as it indicates strong user engagement and potential for increased ad revenue.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80