- Meta has announced a project to develop a decentralized social media platform that will compete with Twitter.
- The new product will reportedly be an offshoot of Instagram and look to capitalize on the significant changes that Twitter has undergone under Elon Musk’s leadership.
Meta, the owner of Facebook and Instagram, has revealed plans to create a text-based social network that will likely compete with Elon Musk’s Twitter. The new platform (which could be called Threads) aims to attract users of similar platforms, such as BlueSky and Mastodon, while bringing in Instagram users through their existing accounts.
The new project, currently titled P92, is expected to be a key rival to Twitter. Users disillusioned by Twitter are increasingly looking for new alternatives. However, rebuilding networks and communities has been a significant hurdle. Yet, with Instagram’s massive user base, Meta could easily resolve these problems.
With a decentralized platform, users of the new Meta platform will be able to create and join different servers. The platform will also allow broadcasts from one server to another. P92 will further take advantage of Instagram’s data about images, account follower lists, and more.
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Twitter’s New CEO Aims to Make It a Leader in Real-Time Information
Meta’s announcement comes at a time when Twitter is fighting fires on multiple fronts, including outages, glitches, controversies over policy changes, and content moderation standards. The problems have been worsened by major layoffs in the company, including engineers handling critical operations.
Twitter’s new CEO Linda Yaccarino announced her plans for the new phase of Twitter operations following her takeover of the company from Elon Musk. She stated the company’s mission is to “become the world’s most accurate real-time information source.â€
However, the new CEO may face significant challenges after a 40% ad revenue drop in 2022, the company’s pull-out from the EU’s disinformation code, and the resignation of its head of trust and safety in early June 2023.
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