Mark Zuckerberg decided to confront Elon Musk

Mark Zuckerberg decided to confront Elon Musk


2023-03-20 01:25:45

Reuters and sources from Breakingviews said that Meta is looking to build a standalone text-centric social network to compete with Twitter.

This is a move of great interest because of the fact that Facebook and Instagram are making money from users better than Twitter. According to Reuters, currently the platform owned by Elon Musk is going through a very difficult period, so it seems easier for rivals to compete and “occupy land”.

Tesla’s boss acquired Twitter for $44 billion last October. Since then, the company is said to have descended into “chaos” and an “uncertain future”. This social networking platform is constantly experiencing technical problems that make it impossible for thousands of people to access.

Concerns about the stability of Twitter are widespread.

Concerns about the stability of Twitter are widespread. Among those who decided to leave after Elon Musk bought Twitter were many of the engineers responsible for fixing and preventing service outages.

Even in the best of times Twitter still has to accept being behind Facebook and Instagram. Before being sold to Elon Musk, this social network “burned” $ 370 million in cash. Meanwhile in 2021, Meta has raked in $38 billion.

Since that year, the money flow to Meta has also decreased, but the important thing is that Mark Zuckerberg has a business model that knows how to make money from users, while Twitter is still struggling with this post.

Speaking at Morgan Stanley’s investor conference last week, Elon Musk said he was “astonished” at Twitter’s “poor” monetization from the messaging service.

In 2021, each of Meta’s people brings in more than $40 in revenue compared to Twitter’s $16. If it’s going to launch a platform to compete with Twitter, Zuckerberg’s product may be in its early stages, but it has very favorable backing from Facebook and Instagram.

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