Did Jim Cramer Predict Threads Would Kill Twitter? The Aftermath
Last month, Jim Cramer boldly stated Mark Zuckerberg “killed Twitter” after Meta Platforms (NASDAQ: META) unveiled Threads – a text-based conversation app poised to challenge Elon Musk\'s platform. Was he right? Are we seeing the slow demise of Twitter, now known as X, thanks to Threads?
Threads\' Explosive Launch: A Threat to Twitter/X?
Last week, Meta, the parent company of Facebook and Instagram, released Threads, a social media platform to compete with Twitter. In just 16 hours, Threads achieved a record-breaking signup rate. Social media consultant Drew Benvie told Reuters, "Threads is going to pose a huge threat to Twitter because it\'s coming from the Meta and Instagram family of apps." This built-in user base provided Threads with an immediate advantage.
Will Threads Overtake Twitter/X? The Current Status
The odds of Threads surpassing Twitter remain small but are far better than they would have been a year ago. A Successful Launch But Challenges Remain Threads. As of now, it remains unclear if Threads or Elon Musk will kill Twitter/X first. But it is clear that his owning the platform isn’t helping it. Many users have grown weary of the changes implemented since the acquisition, opening the door for a viable alternative.
Why Advertisers Are Watching Closely
Threads “If Threads can displace Twitter’s current toxicity, it may well steal Musk’s crown.” That also matters to brands, and by extension advertisers, who flooded Threads as it launched. Brands are looking for safer and more engaging platforms to reach their target audiences. Twitter/X\'s perceived increase in toxicity has made advertisers nervous, making Threads an attractive alternative.
The Future of Social Media: See New Tweets. Conversation
While it\'s too early to declare Twitter/X officially dead, the emergence of Threads has undoubtedly shaken things up. The competition is fierce, and the future of social media remains uncertain. Whether Jim Cramer\'s prediction comes true remains to be seen, but the battle for social media dominance is officially on.