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- Mark Zuckerberg views Threads as an "awesome and unexpected" opportunity.
- The app gained over 100 million users in a short time, but retention is proving to be more difficult.
- Zuckerberg will do everything he can, when the time comes, to ensure that it is successful on a long-term basis.
In recent weeks, Threads has lost ground after its record-breaking launch. Elon Musk isn't ready to celebrate yet.
Mark Zuckerberg, Musk's cage-fight nemesis, gave his most comprehensive assessment of Threads to date, and Meta's long-term plan for destroying Twitter.
Zuckerberg said during Meta's earnings call for the second quarter that "we have a lot to do." He explained that this includes experimenting and building features that people enjoy, but also noting that certain offerings will not always be "retentive".
Zuckerberg stated that threads are a great way to get to that point. There's still some basic functionality that needs to be built. Once we feel that we are in a good place, I am confident that we will be able pour enough fuel on this to make it grow.
Meta's CEO said: "If we reach the point of reaching hundreds of millions of users, we will then worry about monetization."
Musk purchased Twitter last year for $44 billion. He has changed so many aspects of the platform, that some users are now looking for other sources for real-time online discussion. Meta took advantage of this opportunity to attempt another of its famous cloning efforts. Threads was created in under six months with just 15 engineers. In less than a month, Threads had more than 100 millions users. This is a record number for a social media app.
Recent signs suggest that Threads' engagement and user base are waning. Meta released the product with limited features. In the coming months and year, it will be releasing many new updates. It launched, this week, a feed of content from its followers.
Zuckerberg said on Wednesday that Meta had not been successful in building standalone apps, (beyond Facebook's original service and acquisitions like Instagram and WhatsApp). He suggested that this could be a similar situation to venture capital, where many funds invest and only a few are successful. He suggested that Musk's Twitter interference was the catalyst for the rare opportunity.
Zuckerberg stated that "we're focused to take this opportunity which is an awesome opportunity we didn't anticipate" and that it has not yet been possible to create an app that allows social discourse for 1 billion users. It's great that we have the opportunity to work on it. I am optimistic about the situation, but there is a long way to go.
Do you have insight that you would like to share as a Twitter employee or Meta employee? Contact Kali Hays via khays@insider.com or Signal, the secure messaging app, at 949-280-0167. You can also contact her through Twitter Direct Messages @hayskali. Contact Kali Hays using a device that is not your work computer.
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By: insider@insider.com (Alistair Barr,Kali Hays)
Title: Mark Zuckerberg says Meta will ‘pour enough gasoline’ on Threads to make it grow when it’s ready for prime time
Sourced From: www.businessinsider.com/mark-zuckerberg-meta-pour-gasoline-threads-twitter-elon-musk-2023-7
Published Date: Wed, 26 Jul 2023 23:50:38 +0000
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