Since its acquisition by owner Elon Musk for $44 billion in October of last year, Twitter has experienced a significant decline in its advertising revenue, with roughly half of it being lost.
Musk, known for his frankness regarding the challenges Twitter is encountering, disclosed this information in a tweet response to a user who was providing suggestions on financing for the platform.
In a recent development, Twitter has implemented new restrictions on non-verified users, who constitute the majority of its user base.
Read Also : Twitter removes Tinubu’s verification badge hours after Osibanjo’s badge was removed
These free accounts are now limited to accessing only 1,000 tweets per day, while newly created unverified accounts face an even stricter limit of 500 tweets.
Additionally, Twitter has announced that from next month onwards, the popular program TweetDeck, which allows users to conveniently monitor multiple accounts simultaneously, will be exclusively accessible to verified users.
These changes come in the wake of the remarkable success achieved by Threads, an application launched by Meta, the parent company of Facebook, as a direct competitor to Twitter.
Also Read :Linda Yaccarino: five facts about the woman Appointed as new Twitter CEO By Elon Musk,
Impressively, Threads has managed to amass over 100 million users within its initial five days of release. In comparison, it took the artificial intelligence app ChatGPT, developed by OpenAI, a span of two months to reach the same number of active users.
Current estimates indicate that Threads has now surpassed 150 million users, with India emerging as a leading contributor to this growth.
Its integration with Instagram has provided a significant advantage, granting the platform a pre-established audience of over two billion users and sparing it the challenges associated with starting from scratch.
Since Elon Musk’s acquisition of Twitter and the subsequent layoffs of numerous employees, the social media platform, estimated to have approximately 200 million active users, has been plagued by frequent technical glitches.
Further more :Delta monarch seeks expansion of oil pipeline surveillance
Meanwhile, Meta CEO Mark Zuckerberg’s latest platform has raised apprehensions among users regarding privacy. The new platform requires users to grant Meta explicit permission to extensively track their online activities across the internet.
The introduction of new regulations in Europe, which restrict Meta’s ability to track and share data across its various platforms, has caused a delay in the launch of Threads in the region.
Meta’s primary business model relies on collecting personal data for targeted advertisements, and Threads accounts are closely linked to Instagram accounts.
However, it is widely believed that Threads’ absence in Europe will not be a permanent situation. Alexandre de Streel, an expert in European law, suggests that major tech companies will likely engage in discussions and negotiations with the European Union in the coming months to ensure compliance with the legislation.
Understanding the legislation’s scope and establishing a dialogue with the commission are key factors in resolving the issue.
Furthermore, Elon Musk has threatened legal action against Meta, accusing them of stealing trade secrets and intellectual property. The company, however, has refuted these claims.
In a letter addressed to Mark Zuckerberg, published by the online news outlet Semafor, Musk’s lawyer alleged that Meta had recruited numerous former Twitter employees who possessed and currently have access to Twitter’s confidential information and trade secrets.
While Musk and Zuckerberg have had disagreements over the years, tensions have escalated recently due to Meta’s clear intention to compete directly with Twitter.
