Zuckerberg-Musk fight is on: Meta launches 'Twitter Killer' Threads app

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Zuckerberg-Musk fight is on: Meta launches 'Twitter Killer' Threads app
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NEW YORK — Meta's Mark Zuckerberg is set to deliver a blow to Twitter boss Elon Musk on Wednesday (July 5) night, as the tech billionaires' rivalry goes live with the launch of Instagram's much-anticipated Threads platform, a clone of Twitter.

Analysts said investors were salivating over the possibility that Threads' ties to Instagram might give it a built-in user base and advertising apparatus, which could siphon ad dollars from Twitter as its new CEO tries to revive the microblogging company's struggling business.

Meta stocks closed up 3 per cent on Wednesday ahead of the launch, outpacing gains by competitor tech companies as the broader market edged down. Mr Musk bought Twitter for US$44b last October, but its value has since plummeted as it faced an exodus of advertisers amid deep staffing cuts and content moderation controversies.

Bluesky, a new service backed by Twitter cofounder Jack Dorsey, launched its invite-only beta in February and instantly created a buzz on Twitter, with users clamouring to get access codes. Its website says it has 50,000 users. Mr Dorsey has also backed another platform called Nostr.

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