Twitter's rebrand to X is actually happening - possibly the worst rebrand I've ever seen. Quite funny to watch that dumpster fire of a platform just be absolutely destroyed by Musk.
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reddit, twitch, facebook (which has almost always been like that, though)
but it’s definitely declining (and has been for a long time, especially among younger generations). plus, their metaverse obsession (which they’re now practically abandoning in favor of AI, the next “fad”), is definitely distracting from their main business.
Instagram and Threads are doing perfectly fine though - they’re still making plenty of money.
it’s not a purely money thing, though. what really matters is the future prospect of their company and how it’s being managed. look at threads’ launch, for example. threads is pretty unfinished (there is no trending page and many other social features are missing) and they don’t even own the domain threads.com. The actual company that does own threads.com is a slack-like social media, that has seen an influx of users due to this confusion. Meta is just lucky that this company isn’t a scam, because if they created a fake threads scam site at threads.com, they could scam tens of thousands of would-be threads users.
additionally, they know that it’s going to be hard to stay relevant in the space they’re in right now (social media), which is why Mark Zuckerberg wanted to switch and said they were “100% focused” on the metaverse. but then they changed the name of the company, just to backtrack and invest in AI instead. The main thing is that even if they’re making money now, it’s going to be much more crowded in the social media app space.
also, how is threads making money if it doesn’t have ads yet?
Sorry - should have clarified, I meant Meta as a whole is still making money, not Threads specifically. Also there are plenty of companies who were built outside of the .com domain space. That’s really not a super relevant thing. As far as Threads being unfinished, yeah, it definitely isn’t finished. Not even close. However, Meta has a ton of experience in the social media space and they’ve got a really good chance to make Threads the Twitter alternative it’s designed to be. Threads has a higher chance of succeeding at this point than X does imo. I’m not saying Meta won’t fail at some point - I hope they do, they suck as a company. But they’re not going anywhere anytime soon.