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Wednesday, June 12, 2024

Meta’s ‘Threads’ Enters The Ring, But Dorsey And Musk Take A Swing: Will Privacy Prevail? – Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL), Meta Platforms (NASDAQ:META)

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As news about Meta Platforms Inc. META launching its Twitter-alternative “Threads” on upcoming Thursday surfaced, Jack Dorsey aligned with Elon Musk to criticize Mark Zuckerberg’s platform, raising vital concerns about user privacy.

What Happened: After Meta’s upcoming decentralized social media platform, Threads, made a fleeting appearance on Alphabet Inc.’s GOOG GOOGL Google Play Store during the weekend, the app has made its official debut on the Apple Inc.’s AAPL iOS App Store.

However, as indicated by App Store information, Meta’s Threads will be officially released on July 6, which is coming Thursday. 

See Also: ‘Zuck My Tongue’: Elon Musk Taunts Zuckerberg And Dalai Lama Over Twitter-like App

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This latest development in social media created significant ripples, with analysts and netizens alike pitting Musk’s Twitter and Zuckerberg’s Threads against each other. 

Nevertheless, what really caught users’ attention was both Dorsey, co-founder and former CEO of Twitter and Musk, who bought the microblogging site for $44 billion in October 2022, taking a shot at Threads over data collection concerns — something Meta’s Facebook already has a not-so-ideal history with. 

The tech moguls appear to be hinting at Meta’s Threads acknowledging that they will be collecting user information via the platform to “link” to users’ identity. This includes financial information, contact info, browsing history and health & fitness. 

In another tweet, when Twitter Spaces host, Mario Nawfal highlighted that a Meta executive said that the goal is to establish a “sanely run” social media site, Musk responded with a rather sarcastic remark. 

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Why It’s Important: With Twitter facing rate-limit errors and rival platforms like Bluesky witnessing notable growth, Meta’s entrance into the market with Threads is well-timed. 

What sets Threads apart is its advantage of seamlessly transferring users’ Instagram followers and following lists, allowing them to maintain their existing circles from the outset, rather than having to rebuild their community from scratch.

Check out more of Benzinga’s Consumer Tech coverage by following this link

Read Next: Despite Elon Musk’s Critique, Mark Zuckerberg Admires His ‘Actions’ At Twitter

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