The bad news keeps piling on for Twitter owner Elon Musk. His $44 billion investment in Twitter is just not working out yet and Mark Zuckerberg’s Meta is signing up subscribers for newly minted Twitter rival Threads at a rapid pace. Threads has a huge advantage because of Thread’s Instagram integration. New Threads subscribers must have an Instagram account to join; Instagram has over 1 billion monthly active users and a large number of that platform’s subscribers will open a Threads account, a process that is quick and easy to do.
Twitter owner Elon Musk passes along some bad news
Advertisers might not be happy with the mess that Musk has created at Twitter as he monetized verification checkmarks and kept reversing company policy. He also put a cap on the number of tweets users can read in a day only to raise that cap hours later. It is this kind of instability at Twitter that has advertisers pulling back. Back in April, Musk said that advertisers were coming back and that cash flow would soon turn positive. So far, it hasn’t. At the time, Musk said, “Almost all of them have either come back or said they’re coming back.”
