Elon Musk vs. Mark Zuckerberg? Not So Fast!
Meta Platforms (META.O) executives are hard at work trying to boost retention on their new Twitter rival app, Threads. Despite its buzzy launch, the app has lost more than half of its users and continues to do so. CEO Mark Zuckerberg discussed the issue during an internal company town hall, and revealed that their retention of users has been better than expected but still not perfect.
To draw users back towards the app, Metas is looking into adding “retention-driving hooks,” such as making sure people who use the Instagram app can see important Threads. Retention is also expected to grow as more features are added, such as desktop access and search functionality.
Meta’s promising revenue growth forecast impressed investors, showing a turnaround from last year’s heavy spending on the metaverse. Even during the town hall, CEO Zuckerberg was confident that the company’s work on augmented and virtual reality technology was on track. He expressed that Meta needed to get a head start as Google, Apple, and Microsoft already have experience building operating systems for existing products and that they need to be prepared for when the metaverse technology is ready “for prime time” in the 2030s.
Finally, an AI model, Llama 2, was released by Meta this month and provided free for commercial use. It has received more than 150,000 download requests week since its release.
As for the proposed “cage match” between Musk and Zuckerberg? It’s up in the air as Zuckerberg mentioned during the town hall that it’s “not sure if it’s going to come together.” We’ll have to wait and see if it does!
Moral of the story? Meta Platforms is working hard to boost their app usage and make sure it is prepared for when technology advances in the next decade. And the Elon Musk – Mark Zuckerberg cage match? That’s still TBD