Zuckerberg’s social-media platform, Threads, saw a decline in users, with more than half of its initial 100 million sign-ups inactive. The Twitter rival experienced a rapid surge in popularity within five days of its launch earlier this month. However, in a call with employees, Zuckerberg acknowledged the decline in user retention but described it as “normal.” He expressed optimism that new features added to the app would improve user engagement over time.
Threads faced criticism for its limited functionality upon its launch, but Meta, the parent company of Facebook, has since introduced new features, such as separate “following” and “for you” feeds and increased language translation options for posts. Meta’s chief product officer, Chris Cox, revealed the company’s focus on implementing more “retention-driving hooks” to entice users back to the platform. An example he cited was to ensure that Instagram users could access important Threads content, as the two platforms are closely linked. Threads requires an Instagram account for sign-up.
AR and VR Tech
Zuckerberg gave updates to employees on Meta’s progress with the Metaverse, a yet-to-be-created virtual reality world. This was in addition to the decline in Threads users. AR (Augmented Reality) and VR (Virtual Reality) tech for Metaverse on track, mainstream adoption expected in the next decade. Concerns have arisen about Meta’s significant investment in the Metaverse, as its Reality Labs division, responsible for VR headsets and other products, has incurred multi-billion dollar losses. Despite this, Meta as a whole remains financially strong, recently announcing a profit of $7.79 billion in the last quarter.
On a lighter note, Zuckerberg addressed the amusing headline of his proposed cage fight with Elon Musk, another tech titan. In June, both men expressed interest in the idea, even suggesting a venue in Las Vegas. However, when questioned during the call, Zuckerberg admitted uncertainty about whether the fight would actually materialize.
As Threads continues to evolve with additional features and improvements, Meta remains committed to exploring new frontiers in virtual reality with the Metaverse. The company’s financial performance continues to be robust, despite the challenges in certain divisions. However, the fate of the proposed Zuckerberg-Musk cage fight remains uncertain and may simply remain an amusing headline.
