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☆ Netflix signups remain high, fueled by password-sharing crackdown - data
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The Netflix logo is shown on one of their Hollywood buildings in Los Angeles, California, U.S., July 12, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsAug 23 (Reuters) - Signups for Netflix (NFLX.O) in the United States remain elevated despite a fall from June's record high after the video-streaming pioneer's crackdown on shared passwords came into effect in May, according to data from research firm Antenna. Netflix had said last year it was going to limit account-sharing and was testing various approaches in some markets. This has led analysts to expect that about 50 million users will ultimately create their own accounts. The research firm sources its streaming data from transaction records such as online purchase receipts and banking information.

Persons: Mike Blake, Walt Disney's, Max, Jaspreet Singh, Akash Sriram, Pooja Desai Organizations: Netflix, REUTERS, Amazon, Warner Bros, Reuters, Thomson Locations: Los Angeles , California, U.S, United States, Bengaluru

☆ How Bob Iger's big plan to shrink Disney could pay off and how it could backfire, according to industry insiders
▼ + stars: | 2023-08-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

After a run of acquisitions during his first tour as Disney CEO, Bob Iger is looking to shrink the company. "They are our film studios, our parks business, and streaming, all of which are inextricably linked to our brands and franchises." Verizon has reached out to Disney about partnering on a new ESPN streaming service, The Information reported. 2024 will bring some clarity to Disney's streaming business. "The streaming business with ESPN going direct to consumer can generate a lot of subscriptions and hopefully be a positive earnings contributor.

Persons: Bob Iger, He's, Iger, Wells, Steven Cahall, MoffettNathanson's Michael Nathanson, Iger's, hasn't, Macquarie, Tim Nollen, Doug Shapiro, Shapiro, Disney, It'll, there's, Tim Cook, Eddy, Drew Angerer, Disney's, Penn, Joel Simkins, Stratechery's Ben Thompson, Thompson, — Iger, mused, signups, he's, Kevin Lansberry, I'm, Nollen Organizations: Disney, ABC, FX, Geographic, ESPN, Google, Netflix, Warner Bros, Discovery, Warner Bros . Discovery, Comcast, Marvel, Pixar, Apple, Walt Disney, Turner Broadcasting System, Apple's, Hulu, ESPN Iger, Penn Entertainment, Houlihan, Global Technology Group, LightShed Partners, Verizon, Flagship Locations: Orlando , Florida, Sun

☆ My company lost $450K because we didn't fire 5 wrong hires quickly enough. It's important to 'fire fast' — even though it's difficult.
▼ + stars: | 2023-08-22 | by ( Melissa Kwan | ) www.businessinsider.com time to read: +9 min

After spending too much time and money because I'd rather avoid tough conversations, I finally learned the importance of "firing fast." The concept of "hire slow, fire fast" has been popularized by startup culture, referring to the agility required to grow a company in a competitive environment. In our first two years, we made five wrong hires that ended up costing $450K because we didn't "fire fast." The most expensive thing about wrong hires is not money — it's time (and sadly sometimes friendships, as mentioned above). While not all costs can be avoided — because you don't know what you don't know — they can be mitigated by "firing fast."

Persons: Melissa Kwan, Kwan, It's, it's, I've, Dev, we'd, —, We've Organizations: Morning

☆ Elon Musk admits X 'may fail, as so many have predicted'
▼ + stars: | 2023-08-20 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Elon Musk seemed to suggest that his takeover of X, formerly known as Twitter, could be doomed. The billionaire said Saturday that X "may fail," but that the company would try to succeed. Elon Musk appeared to admit that his $44 billion takeover of X could be doomed. The owner of the platform formerly known as Twitter said Saturday that X "may fail." "We may fail, as so many have predicted, but we will try our best to make there be at least one."

Persons: Elon Musk, Meta, Mashable's Matt Binder, X, Monica Lewinsky, Linda Yaccarino, — Monica Lewinsky, Fidelity, X didn't Organizations: Twitter

☆ Bob Iger is moving to shrink Disney — here's how industry insiders see his playbook and its potential pitfalls: 'Everything is not OK'
▼ + stars: | 2023-08-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

After a run of acquisitions during his first tour as Disney CEO, Bob Iger is looking to shrink the company. He's looking to Disney's IP-driven parks, streaming, and film studios to drive growth. "They are our film studios, our parks business, and streaming, all of which are inextricably linked to our brands and franchises." 2024 will bring some clarity to Disney's streaming business. "The streaming business with ESPN going direct to consumer can generate a lot of subscriptions and hopefully be a positive earnings contributor.

☆ Cruise vehicles cause weekend traffic jam one day after California approves 24-7 robotaxi service
▼ + stars: | 2023-08-14 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

In an aerial view, Chevrolet Cruise autonomous vehicles sit parked in a staging area on June 08, 2023 in San Francisco, California. On Thursday, California regulators voted to approve round-the-clock robotaxi service in San Francisco from two rival companies: Waymo and Cruise. By Friday night, a group of Cruise vehicles had stopped short in the city's North Beach neighborhood, flashing hazard lights and causing a traffic backup, according to reports. "There's over 10,000 human ride-hail drivers in San Francisco, potentially much more than that, depending on how you count it," Vogt said on the call. So it does not make a very high number to generate significant revenue in a city like San Francisco.

Persons: Cruise, Waymo, Tekedra Mawakana, Chris Ludwick, We've, Ludwick, Kyle Vogt, Vogt Organizations: Chevrolet Cruise, California's Public Utilities Commission, Google, Cruise, General Motors, CNBC Locations: San Francisco , California, Autonomous, San Francisco, California, Cruise, Beach, U.S, Vallejo, North Beach

☆ X CEO Linda Yaccarino says the company is 'keeping an eye on everything' that rival Threads is doing
▼ + stars: | 2023-08-11 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Linda Yaccarino told CNBC "we're keeping an eye on everything" Threads is doing. "You can never ever take your eye off any competition," the X CEO said, as Threads unveils more features. Linda Yaccarino, the CEO of X — the company formerly known as Twitter — told CNBC on Thursday "we're keeping an eye on everything" Threads is doing. Although less than a month later, Mark Zuckerberg told staff that more than half of Threads users had already stopped using it, Reuters reported. "It's dropped off dramatically," Yaccarino told CNBC.

Persons: Linda Yaccarino, X, Twitter —, Meta, Mark Zuckerberg, It's, Yaccarino, Zuckerberg, Elon Musk Organizations: CNBC, Twitter, Reuters

☆ Shopify forecasts solid revenue growth on higher prices, more signups
▼ + stars: | 2023-08-02 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

REUTERS/Chris WattieAug 2 (Reuters) - Canada's Shopify (SHOP.TO), forecast strong revenue growth and delivered better-than-expected results for the second quarter on Wednesday, helped by new signups and price increases across its services. In the third quarter, the company expects revenue growth at "low-twenties" percentage and "mid-twenties" when adjusted for changes related to the divestiture of its logistics business. Following the results, Shopify's U.S.-listed shares, which have surged nearly 80% so far this year, added 7% before settling marginally lower in extended trading. In the second quarter, total revenue grew 31% to $1.69 billion and beat analysts' average estimate of $1.62 billion. "This could be a turnaround quarter for Shopify," said Michael Schulman, chief investment officer at Running Point Capital Advisors.

Persons: Chris Wattie, We're, Harley Finkelstein, Shopify, Michael Schulman, Yuvraj Malik, Akshita, Pooja Desai, Arun Koyyur Organizations: REUTERS, Merchants, Running, Capital Advisors, Thomson Locations: Ottawa , Ontario, Canada, Shopify, U.S, Bengaluru

☆ Tinder-parent Match sees third-quarter revenue above estimates on strong user growth
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

The company forecast revenue between $875 million and $885 million for the third quarter. It posted adjusted operating income of $301 million in the second quarter, compared with market estimates of $278.5 million. Match said Tinder's "It Starts with a Swipe" campaign was crucial in lifting new user signups, particularly among young women. It also said there has been strong demand for its weekly subscription packages, which benefited Tinder's revenue. The company posted a revenue of $830 million in the second quarter, compared to analysts' estimate of $811.4 million, according to Refinitiv IBES data.

Persons: Akhtar Soomro, Tinder, Akshita Toshniwal, Akash Sriram, Pooja Desai Organizations: REUTERS, Thomson Locations: Bengaluru

☆ Days after Mark Zuckerberg said Threads had lost more than half its users, the head of Instagram is moving back to the US after just a year in London
▼ + stars: | 2023-08-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Adam Mosseri, the head of Instagram, has moved back to the US after a year in London. His relocation comes four days after Mark Zuckerberg said Threads had lost more than half its users. Adam Mosseri, the head of Instagram, is moving back to the US after spending a year in London, England, he said Monday. Mosseri's announcement also comes just four days after Mark Zuckerberg said Threads had lost more than half its users, Reuters reported, after rapidly reaching 100 million signups in just five days. Soon after his announcement, the Instagram boss told Threads users to "hang tight" for an improved desktop app as well.

Persons: Adam Mosseri, Mark Zuckerberg, Mosseri, Meta's, Meta, Zuckerberg, Instagram, — Organizations: Reuters, Bloomberg, London, Meta, The Financial Times, Daily Mail Locations: London, England, British, San Francisco, Silicon, Bay

☆ Blind and other anonymous forums are 'places of pure misery,' says Redfin's CEO – but also let workers 'speak truth to power'
▼ + stars: | 2023-07-30 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

The CEO of real estate brokerage Redfin said anonymous forums are "places of pure misery." "Anonymity lets us slander one another without consequences, but it's also the only way to speak truth to power," Kelman said. "That led us to think there's a need for a third-party forum where people have the freedom to talk honestly about work," Kim said. "I was living there for six months and met with Amazon employees and signed them up in person – that's how we started flying." He also hosted parties and barbecues and invited Amazon workers so Blind could get more signups through word-of-mouth.

Persons: Redfin, Glenn Kelman, they're, Kyum Kim, it's, Kelman, Kim, Andrew Bosworth, Christian Charisius, Redfin didn't Organizations: Service, Meta, Twitter, Microsoft, Google, Korean, Amazon Locations: Wall, Silicon, Korea, California, Seattle

The latest rival, Threads, was launched by Facebook-parent Meta and got a stunning start earlier this month. Facebook … when you’re looking for community (or used furniture)With more than 2 billion daily users around the world, it’s tricky to describe the stereotypical Facebook user. Pinterest … when you’re looking for inspirationPinterest lets users easily search for and organize visual-heavy inspiration on a wide range of creative topics. Twitter (aka X) … when you’re looking for what’s going on (for now)For years, Twitter was a central hub for real-time news. Threads … when you’re looking for musings from your favorite influencers, celebs and journalistsThe latest Twitter competitor, Threads, was launched by Facebook and Instagram parent company Meta.

Persons: Elon Musk, Instagram, it’s, Pinterest, “, Snapchat, Charlie, “ David, ”, Nextdoor, Twitch …, Long, Donald Trump, Reddit, Musk, influencers, Jack Dorsey, Alexandria Ocasio Cortez, Chrissy Teigen Organizations: CNN, Facebook, —, YouTube, LinkedIn, Capitol, Trump, Twitter, Meta, Democratic Rep Locations: Italy

☆ Stocks making the biggest moves premarket: Southwest Airlines, Meta Platforms, Align Technology, eBay and more
▼ + stars: | 2023-07-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Chipotle reported $2.51 billion in revenue, while analysts polled by Refinitiv had expected revenue of $2.53 billion. Meta Platforms — The Facebook parent jumped nearly 9% after reporting earnings and revenue for the second quarter that topped analysts' estimates. Same-store sales grew 11.7% in the second quarter. Sunnova Energy — Shares of the solar company slid more than 7% following weaker-than-expected financial results in the second quarter. Sunnova posted a wider-than-expected loss of 74 cents per share, while analysts expected a loss of 42 cents per share, according to FactSet.

Persons: Chipotle, Refinitiv, Edwards Lifesciences, Meta, Lam, McDonald's, Richard Dickson, Sunnova, —, Jesse Pound, Alex Harring, Yun Li Organizations: Southwest Airlines —, eBay, FactSet, Technology, Revenue, Facebook, Lam, Honeywell —, Honeywell, Mattel, Comcast —, NBC, Management, Energy, Comcast, CNBC Locations: Refinitiv, China, FactSet

☆ Stocks making the biggest moves midday: Meta Platforms, Chipotle, Royal Caribbean and more
▼ + stars: | 2023-07-27 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +7 min

Meta Platforms reported earnings of $2.98 per share on $32 billion in revenue. Royal Caribbean , Norwegian Cruise Line — Shares of Royal Caribbean surged 8.7% after the cruise company beat expectations for the second quarter. Royal Caribbean reported $1.82 in adjusted earnings per share on $3.52 billion of revenue. The company reported $5.98 in adjusted earnings per share on $3.21 billion in revenue. The company reported $2.05 in adjusted earnings per share, below the StreetAccount consensus of $2.33 per share.

Persons: Chipotle, Refinitiv, Lam, L3Harris, Willis Towers Watson, Northrop Grumman, Northrop, Sunnova, Edwards, StreetAccount, —, Alex Harring, Hakyung Kim, Samantha Subin, Yun Li Organizations: Refinitiv, Cruise, Royal Caribbean, Lam Research, KLA Corp, —, L3Harris, Northrop Grumman, Northrop, Management, Energy, Honeywell, Honeywell International, Comcast —, Comcast, Southwest Airlines, eBay, Wall Street, CNBC Locations: Royal Caribbean, Refinitiv

☆ Threads use is down to about 6 minutes a day — plummeting from 21 minutes when it first launched
▼ + stars: | 2023-07-19 | by ( Gabriel Rivera | ) www.businessinsider.com time to read: +3 min

Users are only spending 6 minutes on the app a day — down from 21 minutes, according to Similarweb data. Threads is losing daily users just as fast as it gained them. On July 7, two days after the app's launch, users were on Threads for around 21 minutes a day on average. In a Threads post, Cameron Roth, a software engineer for Instagram and Threads, announced a slate of new bug fixes and upgrades to the platform's feed and follow features. Mosseri echoed Zuckerberg's early enthusiasm in a Saturday Threads post, also sent to Insider by a Meta spokesperson.

Persons: Elon, Meta, Adam Mosseri, Mark Zuckerberg, Mosseri, Cameron Roth Organizations: Meta, Twitter Locations: Similarweb

☆ Threads now has ‘tens of millions’ of daily users. But its honeymoon phase may be over
▼ + stars: | 2023-07-19 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

After surpassing 100 million user sign-ups in less than a week, user engagement on Threads has slowed. Threads daily active users fell from 49 million on July 7, two days after its launch, to 23.6 million users last Friday, according to a report published this week by web traffic analysis firm Similarweb. “I’m very optimistic about how the Threads community is coming together,” Meta CEO Mark Zuckerberg said in a post on the platform Monday. “We’re clearly way out over our skis on this,” Mosseri said in a Threads post the week of the app’s launch. Threads could be a way for Meta to eke additional engagement time out of its massive existing user base.

Persons: It’s, “, Mark Zuckerberg, who’s, Adam Mosseri, ” Mosseri, Mosseri, ” Meta, Elon Musk, ”, Ali Mogharabi, Musk, Scott Kessler, ” Kessler Organizations: New, New York CNN, Meta, Twitter, ”, ” Morningstar Locations: New York

☆ Here are our top 4 stocks and worst 4 stocks to start the second half of 2023
▼ + stars: | 2023-07-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +9 min

There are some new names on both the July leaders and July laggards list since we did this exercise looking at our January to June portfolio performance. META 1M mountain Meta stock performance month-to-date. Meta Platforms (META) remains a top performer in the portfolio to start the second half, rising 7.6% for the first two weeks of July after more than doubling in the first half. To start out the first half of 2023, Nvidia was our top-performing stock in the portfolio with nearly a triple. The analysts warned that FL's high exposure to lower-income consumers could pressure the second half of the year.

Persons: Jim Cramer's, Jim, Meta, Baird, Mary Dillon, Foot, Nikesh Arora, PANW, Eli Lilly, Lilly, Mounjaro that's, Johnson, Jim Cramer, Brendan McDermid Organizations: Jim Cramer's Charitable Trust, Investing, Nasdaq, HAL, Halliburton, Natural Resources, Coterra Energy, Meta, Nvidia, Apple, Alto Networks, Palo Alto Networks, Microsoft, PANW, Palo, Reuters, Nordisk, CNBC, Traders, New York Stock Exchange, & ' $ Locations: North America, FL, PANW, Palo, New York City, U.S

☆ Musk's Twitter sues four Texas entities for data scraping, seeks damages
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Twitter has filed a lawsuit against four unnamed entities in Texas for data scraping last week, a move that showed why the Elon Musk-owned social network recently placed daily limits on the number of tweets a user could read. The complaint by Musk's X Corp, which owns Twitter, alleged that the entities indulged in "unlawfully scraping data" and sought monetary relief of more than $1 million, the lawsuit said. Musk, meanwhile, reiterated the reason for data limits in a reply to a tweet that referenced the data-scraping lawsuit. The case is X Corp Vs John Does 1-4, in the district court of Dallas County, Texas, no. Reporting by Shubham Kalia and Juby Babu in Bengaluru; Editing by Savio D'Souza and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Elon, Musk, John, Shubham Kalia, Juby Babu, Savio D'Souza, Arun Koyyur Organizations: Twitter, Elon Musk, Musk's X Corp, Meta, X Corp, Thomson Locations: Texas, Dallas County , Texas, Bengaluru

☆ TD Cowen upgrades Meta as social media stock enters second half of 'Year of Efficiency'
▼ + stars: | 2023-07-13 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

TD Cowen has joined the bullish majority on Meta with just half of the social media company's "Year of Efficiency" in the rearview mirror. Analyst John Blackledge upgraded the Facebook parent's stock to outperform from market perform and raised his price target to $345 from $220. META 5Y mountain Meta shares over the last five years Blackledge said Wall Street will likely need to raise estimates, pointing to potential monetization growth in Reels. A Cowen survey shows Reels has grown engagement and helped raised overall time spent on Instagram. Cowen raised revenue and earnings estimates by 8% and 7%, respectively, on average over the next five years and is above consensus estimates for both second quarter and full-year earnings.

Persons: TD Cowen, John Blackledge, mgmt, Blackledge, Cowen, Mark Zuckerberg, — CNBC's Michael Bloom Organizations: Meta, Facebook, Instagram, Twitter Locations: Wednesday's

☆ Walmart customers kept accidentally buying $49 Walmart+ memberships at self-checkout, forcing the company to abruptly yank a promotion
▼ + stars: | 2023-07-12 | by ( Yeji Jesse Lee | Dominick Reuter | ) www.businessinsider.com time to read: +6 min

The company has been pushing discounted memberships during its Walmart Plus Week event. The membership offer was part of Walmart Plus Week, the retailer's answer to Amazon's Prime Day. Just like the Amazon program, Walmart Plus Week is about not just sales, but driving new members to sign up for the service, which normally costs Walmart shoppers $98 a year. A push to grow Walmart+Walmart has pushed to grow its Walmart+ membership base for some time now. Are you a Walmart employee or a shopper with a story to share?

Persons: Dominick Reuter, Yeji Lee Organizations: Walmart, Service, Privacy, Paramount, Amazon, Wisconsin Walmart Locations: Wall, Silicon, Wisconsin, Texas

☆ Russia is handing out leaflets trying to recruit more women to join its army: report
▼ + stars: | 2023-07-12 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +2 min

Leaflets in Russia's Siberia are calling on women to join the army, per independent media. Women would potentially serve in occupied Ukraine "in the same ranks as men," The Moscow Times reported. 39,000 women currently serve in Russia's army, Defense Minister Sergei Shoigu has said. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. That same month, Russia's defense minister, Sergei Shoigu, said that 39,000 women were currently serving in Russia's armed forces, including 5,000 officers.

Persons: Sergei Shoigu Organizations: Moscow Times, Service, Russian Defense Ministry, Omsk Civil Association Locations: Siberia, Ukraine, Wall, Silicon, Russia, Omsk, Russian, Luhansk, Donetsk, Zaporizhzhia, Kherson

☆ CNBC Daily Open: June’s jobs report won’t deter Fed from hikes
▼ + stars: | 2023-07-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Modest jobs growthU.S. nonfarm payrolls increased 290,000 in June while the unemployment rate was 3.6%, according to the Labor Department. Job creation was — for once — lower than economists' expectations of 240,000, though the unemployment rate, which was 0.1 percentage point lower than in May, was exactly on the mark. [PRO] Eyes on inflationNow that June's jobs report is out, investors are turning their attention to the month's consumer price index, coming out on Wednesday, to get an idea of how high interest rates will go.

Persons: nonfarm, Janet Yellen, she's, Elon Musk's, Elon Musk, Musk Organizations: CNBC, Labor Department, Treasury, U.S, Elon, Twitter Locations: U.S, Europe, British, Restabilizing U.S, China

☆ All the major retailers have started using Meta's new Threads platform — except Costco
▼ + stars: | 2023-07-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

All of the largest retailers have activated their accounts, with the notable exception of Costco. That's not to say Costco doesn't have a presence on Threads — it's just not official. Dozens of Costco fan pages have already activated their accounts and are racking up thousands of followers. Unless Threads shows it can drive those two behaviors, it seems the famously frugal Costco will be content to sit this one out. Look no further than its official Twitter account, which contains zero posts and a bio reading, "Our Twitter account is currently inactive.

Persons: That's, Costco execs Organizations: Costco, Service, Twitter, Walmart, Kroger, Facebook Locations: Meta, Wall, Silicon

☆ Elon Musk is the gift that keeps on giving to Mark Zuckerberg
▼ + stars: | 2023-07-08 | by ( Clare Duffy | ) edition.cnn.com time to read: +8 min

New York CNN —At the start of last year, Meta CEO Mark Zuckerberg was in the hot seat. But then, the attention of lawmakers, media and the tech world writ large abruptly shifted to another tech billionaire: Elon Musk. While Twitter users have lamented what Musk’s ownership has meant for the platform, it may be the best thing that could have happened for Zuckerberg. A billion-user opportunityThe distraction and chaos of Musk’s Twitter takeover could hardly have come at a better time for Zuckerberg and Meta. The Twitter-Threads battle has raised the stakes for another fight: a cage fight that Musk and Zuckerberg have spent the past several weeks planning.

Persons: Mark Zuckerberg, Elon, Twitter, Musk, Zuckerberg, “, ”, Herbert Hovenkamp, —, he’s, Meta, Musk’s, “ Elon, Meta —, Donald Trump, Instagram, Adam Mosseri, Zuckerberg’s Organizations: New, New York CNN, Facebook, Apple, Meta, Twitter, University of Pennsylvania’s Carey Law School, Instagram, SpaceX, YouTube Locations: New York, Cambridge

☆ Twitter's desktop app sees surge in outages as Meta's Threads takes off
▼ + stars: | 2023-07-07 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +1 min

In this photo illustration, Threads logo seen displayed on a smartphone with the Twitter profile of Elon Musk in the background. Twitter is experiencing a wave of outages just as Meta's brand new rival Threads service is racking up tens of millions of signups. Many Twitter users have reported outages over the past 24 hours, with problems seemingly skyrocketing around 9:30 a.m. About 70% of the Twitter outages appear related to its desktop service, Downdetector noted. Meanwhile, the Threads app has recorded 70 million signups just a day after its official release as of Friday morning, Meta CEO Mark Zuckerberg wrote in a Threads post.

Persons: Elon Musk, Downdetector, Mark Zuckerberg, Zuckerberg, Linda Yaccarino Organizations: Elon, Twitter, Meta

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