Elon Musk has responded to reports that Facebook’s parent company Meta is planning to launch a new social media platform to challenge Twitter.
As Slay News reported, Meta Platforms Inc. is reportedly planning to launch a new app to rival the mounting threat from Musk’s growing free speech-focused Twitter.
Since Musk’s takeover of Twitter in late October, the platform has been booming with new and returning users who are drawn to the new boss’s free speech agenda.
Musk has long stated that he wants to eradicate censorship and make Twitter the world’s “digital town square” where all views are welcome.
Facebook, on the other hand, has continued to ramp up censorship efforts in recent years and has seen a mass exodus of users.
Amid Musk’s growing success with Twitter, Meta now wants to build a new app to rival it.
“We’re exploring a standalone decentralized social network for sharing text updates,” a Meta spokesperson told Reuters in an emailed statement.
“We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests.”
As stock market volatility continues to roil IRAs and 401ks, companies are scrambling to figure out creative ways to make, save, or in many cases simply not lose more money.
After the pandemic, world governments flushed the system with cash, inadvertently creating a ripple effect that arguably created an inflationary environment for most national economies.
Governments and corporations are struggling to stay afloat and Big Tech was one of the hardest hit during recent stock price drops.
Mark Zuckerberg’s Meta, which owns Facebook, Instagram, Oculus, and WhatsApp, has been shifting gears at the behest of changing investor sentiment and in some cases, outcry.
Zuckerberg was spending money on virtual reality headsets while his legacy companies struggled to grow or keep up with competitors such as China’s TikTok and others.
Twitter now faces a different set of challenges after being bought by Musk and turned into a private company and no longer has the same pressures from shareholders like Meta does.
Taking the company private has given Musk an opportunity to recreate the Twitter concept.
This new concept has not been without hiccups but in many cases has shown some promise.
His big changes have included unbanning many accounts that were previously banned unfairly and rolling out new features such as Twitter Blue.
Under Musk’s leadership, Twitter has been soaring and other Big Tech companies are taking notice.
Some rumblings among the tech world recently signaled that Zuckerberg thought Musk’s new free speech approach might just work.
Reports even emerged that Meta plans to copy Musk’s Twitter Blue subscription service and offer a paid version of Facebook.
Recently, Zuckerberg’s Meta indicated they may take their admiration for Musk’s approach another step further, by trying to create a rival to Twitter.
Of course, it’s a very long way off before anyone will know if that will be successful.
Musk already has issued a simple response to the news that Zuckerberg wants to copy his ideas.
One Twitter account posted about the news and said:
“Mark Zuckerberg’s Meta exploring plans to launch a rival to Twitter.”
Another account, one which commonly interacts with Musk, said:
“why tho[?] is he like ‘people are mad at elon musk, i’ll make an alternative because everyone loves me and facebook so much’.”
is he like “people are mad at elon musk, i’ll make an alternative because everyone loves me and facebook so much” pic.twitter.com/RPQpafxdtU
— Shibetoshi Nakamoto (@BillyM2k) March 11, 2023
Musk saw that and replied simply:
— Elon Musk (@elonmusk) March 11, 2023