It’s happened twice this year – and it’s only July. A new tech phenomenon has seemingly come out of nowhere to dominate conversation as yet another “game changer.”
Earlier in the year, it was ChatGPT, now a juggernaut in the AI space, spawning hundreds of new sites and platforms using Artificial Intelligence to rock our world. Not all of these applications are ready for prime time, but as we’ve discussed throughout the year, if you haven’t exposed your business or yourself to this technology, you’re missing out on something that is very important.
And now it’s happened again with the release of a new social media service that is awfully familiar to Twitter users. Threads is the latest entrant in the quest to change the way we socialize. And its main goal is to rapidly become the “Twitter killer.”
And to his credit, Facebook inventor and Meta honcho Mark Zuckerberg appears to have outmaneuvered tech titan Elon Musk at his own bombastic game. While the two have been generating lots of click bait in a sort-of-anticipated but senseless cage match, Zuck took the first round this week without working up a sweat, unleashing his answer to Twitter – Threads, Meta’s version that’s tied to Instagram.
The trajectory of signups since Threads was launched two days ago is breathtaking. The new platform has already signed up 30 million users. And that data is already hopelessly dated as Threads is showing no signs of stoppage.
When we look at how quickly tech brands have reached the 100 million threshold, Threads will soon be among them. And that includes ChatGPT, which hit goal in just 7 short days.
This post isn’t about whether you should join the throngs of signups (although you should). It is a cautionary tale about vulnerability in the competitive world of “big tech” capitalism in which we live. The business ecosphere is a precarious place – just ask Musk who’s now threatening to sue Zuck over this similar but perhaps different enough social platform.
Yesterday in her wonderful Thursday email, social media empress Lori Lewis strongly suggested you check Threads out. As to whether it will knock off the reeling Twitter, Lori wisely reminds
us “it’s going to come down to whether Threads of Twitter delivers more for advertisers.” She’s sat in enough sales meeting to know this nuclear war will be decided by green – that is, money. You can check out her site and musings here.
On Monday, Jacobs Media’s Seth Resler will make the Threads story the topic of his “Connecting the Dots” weekly post on Monday. He’ll compare Threads to Twitter and provide you with actionable advice as we all watch how this all shakes out over the weekend.
That’s not what this post is all about. Today, I’m writing about how any CEO – even the great leader and innovator of SpaceX and Tesla can squander a lead and virtually tank a business – within just a few months. After all, why would tens of millions (soon to be hundreds of millions?) Twitter users jump ship to explore a new platform spawned by the highly unpopular Mark Zuckerbrg?
Since Musk closed the deal on Twitter this past October, it’s been a shit show of lousy management, dragging Twitter and its loyal users through the muck of indecision, bombast, and foolhardiness. From the blue checkmark fiasco to messing with NPR, Musk has run Twitter like a kiddie pool, making up the rules as he goes along.
His reign of terror began with massive layoffs, followed by the flip-flop rehiring of key personnel, and then more reductions in force. It’s been crazy using Twitter these last nine months. Imagine what it’s been like to work there.
It all hit the fan over the weekend when Twitter announced a limit on how many Tweets its users could send and even view. And those numbers moved around as well, in what has become standard operating procedure for Musk since he’s tried to run this business. Everything’s a trial balloon – and it’s exhausting.
And for Twitter advertisers, it’s been a mess, something marketers try hard to avoid.
It is estimated that while Musk paid $44 billion for the purpose of
owning this social network, he has now driven its value down to $15 billion, according to Fidelity in late May. You have to wonder what its price tag would be right now.
Untold millions of Twitter users have been looking for a lifeline for months, first hoping that Mastodon and other alternatives might have promise. But now Threads looks to be a player. Not only is it tied into Instagram (you need an account there to sign up for Threads), you can import your followers.
As Zuck stated, he wants Threads to be a “friendly place.” This from an entrepreneur who has lost his way with Facebook, while trying to take out TikTok – and failing. Still, if he can pull that off, it would be a sharp contrast to the vitriol that is Twitter.
Why is Twitter vulnerable, while TikTok appears to be untouchable? It comes down to customer experience. TikTok works – an effective, entertaining, and impactful platform its users have no reason to abandon for allegedly greener pastures.
Twitter, on the other hand, has buffeted its user base these past months. Now its users – and its advertisers – have cried “Enough!”
Give credit to Zuckerberg and his team for their work on Threads and their impeccable rollout, taking advantage of Twitter’s lame new limitation policy, as well as the aftermath of a holiday weekend.
You may not love Zuck, but the moves he’s made in the past 48 or so hours are textbook for competitive jousting in any business. And they should serve as a reminder to radio practitioners that there are options in our hi-speed media world- and good ones – especially when a station (or a company) loses its way and takes its listeners for granted.
You may think you have the franchise in morning drive or for Country music or for podcasting or for AI chatbots – but there’s someone out there waiting for you to err, mistreat your customers, or otherwise misbehave. You may be the Rock station in town for over half a century or a well-paid host on ESPN – and you’d better be sweating the details and offering a great experience.
As Elon Musk may learn – the hard way – the road to the future is paved with trust.
Come to think of it, hasn’t it always been this way?
Jacobs Media has consistently walked the walk in the digital space, providing insights and guidance through its well-read national Techsurveys.
In 2008, jacapps was launched - a mobile apps company that has designed and built more than 1,300 apps for both the Apple and Android platforms. In 2013, the DASH Conference was created - a mashup of radio and automotive, designed to foster better understanding of the "connected car" and its impact.
Along with providing the creative and intellectual direction for the company, Fred consults many of Jacobs Media's commercial and public radio clients, in addition to media brands looking to thrive in the rapidly changing tech environment.
Fred was inducted into the Radio Hall of Fame in 2018.
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