Tech

Meta to launch microblogging competitor in wake of Twitter backlash

Published

10 months ago

July 5, 2023

ticker NEWS

The recent backlash against Musk’s proposed tweet cap could prove to be the perfect time to launch the competitor

Meta Platforms, the company behind Facebook, plans to launch a microblogging app called Threads on Thursday, to operate as a direct competitor to Twitter.

The launch comes just days after Twitter boss Elon Musk attracted criticism by announcing limits to how many posts users could read on the platform.

Threads will allow users to directly port their followers from Instagram, another app owned by the company, and to keep the same username. This feature will allow users to supercharge the often slow process of building a following on the new site.

While other apps such as Mastodon and Blue Sky have failed to present much of a challenge to Twitter, Threads is launching after a period of intense criticism and scepticism of Twitter, which followed Musk’s US$44 billion purchase of the platform in 2022.

Musk has made significant staffing cuts in areas like content moderation which has caused a rift with advertisers. He has also implemented several elements such as an US$8 per month account verification system which has proved unpopular with users.

Instagram boasts roughly 2.3 billion users compared to Twitter’s almost 400 million, which poses a significant user advantage from which to draw from.

Shows

Is GenerativeAI transforming education?

Published

1 day ago

May 3, 2024

ticker NEWS

Educators today are facing an uphill battle, so what’s the solution?

Today’s educators are passionate, but they’re up against diverse classrooms and outdated teaching methods.

In this episode, Trevor Furness, Chief Revenue Officer of Octopus B-I discuss their efforts to transform education. #funding futures

News

How AI is leveraging Amazon’s fast production

Published

2 days ago

May 2, 2024

Nathan Langridge

Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates.

Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates, driven by strong performance in its cloud computing and AI.

Ticker’s Ahron Young & Veronica Dudo discuss.

Tech

Tesla is slashing prices to stay competitive

Published

2 weeks ago

April 21, 2024

Reuters

Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations.

Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website.

The basic version of the Model S now costs $72,990 and its plaid variant $87,990. The Model X base variant now costs $77,990 and its plaid variant is priced at $92,900.

Tesla North America also said in a post on X said it would end its referral program benefits in all markets after April 30.

Referral program allows buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.

On Monday Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.

Earlier this month Reuters reported the EV maker had canceled a long-promised inexpensive car, expected to cost $25,000, that investors had been counting on to drive mass-market growth.

The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.

Tesla is to report first-quarter earnings on Tuesday.