Threads: Launch on 6.Jul.23 Instagram's New Weapon in the Social Media War Against Twitter

This News Covers

• What is Twitter's Market Size currently on 5.Jul.23?
• What is Meta's Market Size currently on 5.Jul.23?
• What are key changes at Twitter that have been controversial recently in 2022-2023?
• What are Threads and what it has to do with Instagram?
• What are the key strengths of Instagram?
• Year on year key milestones/changes at Instagram since it was founded?
• Top 6 ways Elon Musk has impacted Twitter since he tookover?
• Advantages and Impacts of Social media?

What is Twitter's Market Size currently on 5.Jul.23?

As of July 5, 2023, the share price of Twitter (TWTR) is $32.

1. Market Capitalization: $24.88 billion
2. Total Assets: $12.70 billion
3. Total Debt: $3.29 billion
4. Shareholders Equity: $8.70 billion
5. Revenues: $1.01 billion
6. Net Income: $118.77 million

Twitter is listed on the New York Stock Exchange (NYSE).

What is Meta's Market Size currently on 5.Jul.23?

As of July 5, 2023, the share price of Meta Platforms Inc. (formerly Facebook, which owns Instagram) is $167.

1. Market Capitalization: $475.46 billion
2. Total Assets: $138.37 billion
3. Total Debt: $10.34 billion
4. Shareholders Equity: $105.30 billion
5. Revenues: $17.74 billion
6. Net Income: $4.90 billion

Meta Platforms Inc. is listed on the NASDAQ stock exchange under the ticker symbol "FB".

What are key changes at Twitter that have been controversial recently in 2022-2023?

1. Launch of Threads by Meta: Facebook owner Meta launched a new app called Threads to rival Twitter. The app is linked to Instagram and is described as a text-based conversation app. This move is seen as the latest in the rivalry between Meta boss Mark Zuckerberg and Twitter owner Elon Musk.
2. TweetDeck Behind a Paywall: Twitter announced that the popular user dashboard TweetDeck will go behind a paywall in 30 days. This move is part of Elon Musk's push to get users to sign up for Twitter's subscription service, Twitter Blue.
3. Restriction on Tweet Viewing: Elon Musk restricted the number of tweets users could see, citing extreme data scraping. This move has been met with mixed reactions, with some praising Musk's commitment to free speech and others feeling alienated.
4. Rise of Twitter Alternatives: Several apps resembling Twitter have emerged, such as Donald Trump's Truth Social and Mastodon. Another similar app, Bluesky, claimed to have seen record traffic after Musk's move to restrict usage.
5. Data Collection by Threads: Meta's Threads app will collect data on your phone, including location data, purchases, and browsing history. This has raised privacy concerns among some users.

What are Threads and what it has to do with Instagram?

Threads is a new app launched by Meta, the parent company of Facebook and Instagram. It is designed to rival Twitter and is described as a text-based conversation app. Here is Threads and its connection to Instagram:

1. Connection to Instagram: Threads is linked to Instagram. Once installed, it automatically links to the Instagram account to which you are logged in. The Threads app uses your Instagram friends list to communicate. If you don't use this list, then the app will suggest the users you are most in contact with on Instagram. The list that you create in the Threads app will also be added to your Instagram list of close friends.
2. Functionality: Threads works as a standalone application that you download to your mobile phone. It allows users to follow and connect directly with their favorite creators and others who love the same things, or build a loyal following of their own to share their ideas, opinions, and creativity with the world. Threads is connected to your phone's camera, so you can send videos and photos through it very quickly. You can also share automatic statuses, stories, and messages with selected friends. Conversations from Threads are always saved in Instagram Direct.
3. Data Handling: According to its App Store profile, the data that may be collected and linked to your identity by Thread includes financial and sensitive information. This is more than what Twitter uses, which could be a concern for users who are sensitive when it comes to companies accessing their data.
4. Availability: Threads will be available on iPhones and iPod touches that run iOS 14 or later. It is currently available for pre-order on the App Store and is set to launch on July 6, 2023.
5. Potential Threat to Twitter: With its integration with Instagram, Threads can offer something other Twitter competitors won't. Its users will already have their Instagram circles to draw from instead of starting over and building a new community. This means that users won't have to start building contacts from scratch, making Threads a potential threat to Twitter.

What are the key strengths of Instagram?

Here are the key strengths of Instagram:

1. Connection to Instagram: Threads is linked to Instagram. Once installed, it automatically links to the Instagram account to which you are logged in. The Threads app uses your Instagram friends list to communicate. If you don't use this list, then the app will suggest the users you are most in contact with on Instagram. The list that you create in the Threads app will also be added to your Instagram list of close friends.
2. Functionality: Threads works as a standalone application that you download to your mobile phone. It allows users to follow and connect directly with their favorite creators and others who love the same things, or build a loyal following of their own to share their ideas, opinions, and creativity with the world. Threads is connected to your phone's camera, so you can send videos and photos through it very quickly. You can also share automatic statuses, stories, and messages with selected friends. Conversations from Threads are always saved in Instagram Direct.
3. Data Handling: According to its App Store profile, the data that may be collected and linked to your identity by Thread includes financial and sensitive information. This is more than what Twitter uses, which could be a concern for users who are sensitive when it comes to companies accessing their data.
4. Availability: Threads will be available on iPhones and iPod touches that run iOS 14 or later. It is currently available for pre-order on the App Store and is set to launch on July 6, 2023.
5. Potential Threat to Twitter: With its integration with Instagram, Threads can offer something other Twitter competitors won't. Its users will already have their Instagram circles to draw from instead of starting over and building a new community. This means that users won't have to start building contacts from scratch, making Threads a potential threat to Twitter.

Year on year key milestones/changes at Instagram since it was founded

Instagram, founded in 2010, has evolved significantly over the years, introducing new features and expanding its user base. Here are some key milestones and changes at Instagram since it was founded:

2010

1. Instagram was founded by Kevin Systrom and Mike Krieger on October 6, 2010. Initially, it was only available for iPhone users.
2. By December 2010, Instagram hit 1 million users.

2011

1. In January 2011, Instagram introduced hashtags on the platform.

2012

1. Instagram launched on Android in April 2012.
2. In the same month, Facebook announced they were buying Instagram for 1 billion dollars.

2013

1. Instagram hit 100 million monthly active users in February 2013.

2015

1. Instagram ads launched globally in September 2015.

2016

1. In March 2016, Instagram announced that the feed is changing from chronological to algorithmic.
2. Instagram launched IG business pages in May 2016.
3. Instagram announced Stories in August 2016.

2017

1. Instagram launched carousel posts, allowing multiple photos or videos in a single post in February 2017.

2018

1. Instagram announced it has 1 billion users in June 2018.
2. In the same month, Instagram launched IGTV and its standalone app.

2020

1. Instagram announced Shops on IG in May 2020.
2. Instagram Reels launched in over 50 countries worldwide in August 2020.

2021

1. Instagram officially announced that Instagram Reels can be up to 60 seconds long in July 2021.

2023

1. As of June 2023, Instagram continues to evolve, with new features and updates being introduced regularly.

These milestones highlight Instagram's growth and evolution over the years, from a simple photo-sharing app to a comprehensive platform for social networking, business promotion, and content creation.

Top 6 ways Elon Musk has impacted Twitter since he tookover?

Since Elon Musk's acquisition of Twitter in October, he has made several significant changes to the platform. Here are the top six ways Elon Musk has impacted Twitter:

1. Twitter 2.0 The Everything App: Musk announced plans for the Twitter 2.0 The Everything App, which is in line with the industry shift towards "ultra apps". As part of the revamp, video and voice calls were announced to be "coming soon" to the platform. Twitter also moved forward with plans to introduce a payments feature.
2. Paid Subscription for Blue Tick: Twitter relaunched Twitter Blue, the platform's top-tier account, as a paid subscription service. The premium feature’s fees start at $8 a month for individuals, with new joiners getting subscriber-only features including Edit Tweet, 1080p video uploads, reader mode, the coveted blue check mark, and longer tweets.
3. Two-Factor Authentication for Blue Users: Twitter announced that it would charge its users to use two-factor authentication (2FA) to secure their accounts via text message.
4. Publishers Allowed to Charge Users: Twitter announced that it would allow publishers to charge users on a per-article basis. This move enables users who do not sign up for a monthly subscription to pay a higher per-article price for occasional reading.
5. Twitter to Take 10% Cut on Content Subscriptions: Twitter will take a 10% cut on content subscriptions after the first year. This followed an announcement allowing users to offer their followers subscriptions to content, including long-form text and hours-long video.
6. Open Source 'Literally Everything': Musk announced that Twitter would make “literally everything” open source as part of his pledge to promote transparency on the platform. This move is expected to allow the public to inspect and scrutinise the social media company's proprietary software, pitch their ideas to developers on how to change Twitter's code, or even use the algorithm in their own applications.

These changes reflect Musk's innovative approach and his commitment to enhancing user experience, diversifying the platform’s revenue sources, and promoting transparency on the platform.

Advantages and Impacts of Social media?

Social media has become an integral part of our daily lives, influencing our behavior, habits, and even our psychology.

1. Psychology: Social media taps into our need for social interaction and validation. It allows us to connect with others, share our experiences, and receive feedback in the form of likes, comments, and shares. This interaction can fulfill our psychological needs for attention, affirmation, and social connection.
2. Scrolling Habit: The infinite scroll feature on many social media platforms encourages continuous browsing, making it easy to spend a lot of time on these platforms. This habit-forming design keeps users engaged and coming back for more.
3. Dopamine Induced Attention Span: When we receive likes, comments, or shares on our posts, our brain releases dopamine, a neurotransmitter associated with pleasure. This reward system can make social media usage addictive, as we continually seek out the dopamine rush that comes with social validation.

References:

1. Meta's 'Twitter Killer' App Is Coming
2. Threads: Instagram owner to launch Twitter rival on Thursday