It's been talked about for months now. Meta's challenge to Twitter is here. Facebook's parent company launched Threads on Wednesday, Bridget Carey cnet's consumer tech and trends expert says the objective of real time conversations is the same, but it's too soon to tell whether threads will topple Twitter. It's still the early days. It's not exactly the same as Twitter. There are *** lot of things we're going to have to get used to and there are different communities on each. It appears the Threads app available in 100 countries is off to *** fast start meta Ceo Mark Zuckerberg posting on his verified account that thread saw 30 million sign ups by Thursday morning. Meta's numbers may be its biggest advantage at launch users sign up using their Instagram account and there are more than 2 billion active Instagram users around the globe. Twitter's active user base is currently around 250 million and has taken *** hit amid the turmoil since Elon Musk's takeover last October to be *** really successful social media company right now. It needs to be *** place that's safe, *** place that is trusted that you are trusting what you're seeing online and it needs to be *** place that is just easy to use and useful. Just within the last week, Twitter has imposed temporary limits on how many tweets its users are able to read in the app and announce users will soon need to pay if they want to use tweet deck, *** popular monitoring tool.
Musk says Twitter is losing cash because advertising is down and the company is carrying heavy debt
Updated: 8:50 PM EDT Jul 15, 2023
Elon Musk says Twitter is still losing cash because advertising has dropped by half.In a reply to a tweet offering business advice, Musk tweeted Saturday, "We're still negative cash flow, due to (about a) 50% drop in advertising revenue plus heavy debt load.""Need to reach positive cash flow before we have the luxury of anything else," he concluded.Video above: Meta's 'Threads' takes on TwitterEver since he took over Twitter in a $44 billion deal last fall, Musk has tried to reassure advertisers who were concerned about the ouster of top executives, widespread layoffs and a different approach to content moderation. Some high-profile users who had been banned were allowed back on the site.In April, Musk said most of the advertisers who left had returned and that the company might become cash-flow positive in the second quarter.In May, he hired a new CEO, Linda Yaccarino, an NBCUniversal executive with deep ties to the advertising industry.But since then, Twitter has upset some users by imposing new limits on how many tweets they can view in a day, and some users complained that they were locked out of the site. Musk said the restrictions were needed to prevent unauthorized scraping of potentially valuable data.Twitter got a new competitor this month when Facebook owner Meta launched a text-focused app, Threads, and gained tens of millions of sign-ups in a few days. Twitter responded by threatening legal action.Video below: Doctor discusses impact of social media on adults' mental health
Elon Musk says Twitter is still losing cash because advertising has dropped by half.
In a reply to a tweet offering business advice, Musk tweeted Saturday, "We're still negative cash flow, due to (about a) 50% drop in advertising revenue plus heavy debt load."
"Need to reach positive cash flow before we have the luxury of anything else," he concluded.
Video above: Meta's 'Threads' takes on Twitter
Ever since he took over Twitter in a $44 billion deal last fall, Musk has tried to reassure advertisers who were concerned about the ouster of top executives, widespread layoffs and a different approach to content moderation. Some high-profile users who had been banned were allowed back on the site.
In April, Musk said most of the advertisers who left had returned and that the company might become cash-flow positive in the second quarter.
In May, he hired a new CEO, Linda Yaccarino, an NBCUniversal executive with deep ties to the advertising industry.
But since then, Twitter has upset some users by imposing new limits on how many tweets they can view in a day, and some users complained that they were locked out of the site. Musk said the restrictions were needed to prevent unauthorized scraping of potentially valuable data.
Twitter got a new competitor this month when Facebook owner Meta launched a text-focused app, Threads, and gained tens of millions of sign-ups in a few days. Twitter responded by threatening legal action.
Video below: Doctor discusses impact of social media on adults' mental health
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