Meta Platforms’ new Threads app registered 10 million sign-ups in the first seven hours of its launch, chief executive Mark Zuckerberg said.
“Threads is here. Let’s do this,” Mr Zuckerberg, who already has 340,000 followers on the new platform, said on Wednesday in posts on the app and on Facebook.
“The goal is to keep it friendly as it expands. I think it’s possible and will ultimately be the key to its success. That’s one reason why Twitter never succeeded as much as I think it should have, and we want to do it differently.”
Threads, Instagram’s text-based conversation app, marks the highest-profile attempt so far to challenge the primacy of rival social media platform Twitter.
Threads is where “communities come together to discuss everything from the topics you care about today to what’ll be trending tomorrow”, according to its listings on Apple’s App Store and Google’s Play Store.
“Whatever it is you’re interested in, you can follow and connect directly with your favourite creators and others who love the same things – or build a loyal following of your own to share your ideas, opinions and creativity with the world.”
Users aged 12 and older will be able to log into the app through their Instagram accounts.
The app allows people to post threads, reply to others and follow profiles that they are interested in.
Threads and replies can include short pieces of text, links, photos, videos or a combination of them.
People can follow users to see their threads and replies in their feeds. Access to posts on Threads will be determined by a profile’s privacy setting.
However, the newest app’s data policy was mocked by Twitter chief executive Elon Musk and its founder Jack Dorsey.
Threads said users’ financial and contact information, browsing history, health and fitness information, usage data, purchases and location may be collected by the app.
“All your Threads are [sic] belong to us,” Mr Dorsey wrote in a tweet with a screenshot showing Threads' privacy policy.
Mr Dorsey launched his competitor to Twitter – Bluesky – this year. Mastodon, an open-source social network created by a German developer, has also been regarded as an alternative to Twitter.
Mr Zuckerberg said there should be a public conversations app with more than one billion people on it.
“Twitter has had the opportunity to do this but hasn’t nailed it. Hopefully, we will,” he said.
“I’m currently planning to use my Instagram broadcast channel for daily product updates and Threads for discussion and sharing thoughts, but we’ll see where these platforms go …”
While a Meta representative said the new app would be available in more than 100 countries, Threads was not available in some EU countries due to regulatory concerns.
The app is available to download for users in the UAE.
Threads is considered to be the most potent rival to Twitter, which has experienced a period of turbulence since Mr Musk's $44 billion takeover last year.
What differentiates Threads from Twitter is that it is decentralised, meaning no single individual or organisation owns or regulates it, similar to cryptocurrencies – exactly what Mr Musk envisions for the microblogging platform.
The first sign of Threads emerged in March when it was reported that Meta would launch an Instagram-branded app to take on Twitter, which was confirmed to The National by a company representative. At the time, the project was known as “P92".
Screenshots on the App Store show features such as the ability to find followers and follow the same accounts being followed on Instagram, as well as conversations that are similar to Instagram threads.
One more advantage Threads will have is that its users will already have their Instagram circles to draw from, instead of starting over and building a new community.
Despite this, Threads is a stand-alone app. When you first use the app, you will be given the option to automatically follow all the same accounts you follow on Instagram.
Compatibility-wise, Threads is available on devices running iOS 14 or later. It is also available to download for Android users.
It will not be available for iPads – unsurprising since Instagram is also not on Apple’s tablets.
“Our plan is to make Threads part of the fediverse – a social network of different servers operated by third parties that are connected and can communicate with each other,” the Threads app said.
“Our vision is that Threads will enable you to communicate with people on other fediverse platforms that we don’t own or control.”
As of January, Instagram had about two billion users while its sister platforms Facebook and WhatsApp had 2.96 billion and two billion, respectively, the latest data from Statista shows. In comparison, Twitter has about 556 million users.
More coverage from the Future Forum
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
COMPANY%20PROFILE
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SPEC SHEET
Display: 6.8" edge quad-HD dynamic Amoled 2X, Infinity-O, 3088 x 1440, 500ppi, HDR10 , 120Hz
Processor: 4nm Snapdragon 8 Gen 1/Exynos 2200, 8-core
Memory: 8/12GB RAM
Storage: 128/256/512GB/1TB
Platform: Android 12
Main camera: quad 12MP ultra-wide f/2.2, 108MP wide f/1.8, 10MP telephoto f/4.9, 10MP telephoto 2.4; Space Zoom up to 100x, auto HDR, expert RAW
Video: 8K@24fps, 4K@60fps, full-HD@60fps, HD@30fps, super slo-mo@960fps
Front camera: 40MP f/2.2
Battery: 5000mAh, fast wireless charging 2.0 Wireless PowerShare
Connectivity: 5G, Wi-Fi, Bluetooth 5.2, NFC
I/O: USB-C
SIM: single nano, or nano and SIM, nano and nano, eSIM/nano and nano
Colours: burgundy, green, phantom black, phantom white, graphite, sky blue, red
Price: Dh4,699 for 128GB, Dh5,099 for 256GB, Dh5,499 for 512GB; 1TB unavailable in the UAE
HAEMOGLOBIN DISORDERS EXPLAINED
Thalassaemia is part of a family of genetic conditions affecting the blood known as haemoglobin disorders.
Haemoglobin is a substance in the red blood cells that carries oxygen and a lack of it triggers anemia, leaving patients very weak, short of breath and pale.
The most severe type of the condition is typically inherited when both parents are carriers. Those patients often require regular blood transfusions - about 450 of the UAE's 2,000 thalassaemia patients - though frequent transfusions can lead to too much iron in the body and heart and liver problems.
The condition mainly affects people of Mediterranean, South Asian, South-East Asian and Middle Eastern origin. Saudi Arabia recorded 45,892 cases of carriers between 2004 and 2014.
A World Health Organisation study estimated that globally there are at least 950,000 'new carrier couples' every year and annually there are 1.33 million at-risk pregnancies.
RACECARD
4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m
5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m
5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m
6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m
7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m
7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m
RESULTS
5pm Wathba Stallions Cup Maiden (PA) Dh70,000 (Dirt) 1,400m
Winner Munfared, Fernando Jara (jockey), Ahmed Al Mehairbi (trainer)
5.30pm Handicap (PA) Dh70,000 (D) 1,600m
Winner Sawt Assalam, Szczepan Mazur, Ibrahim Al Hadhrami
6pm Maiden (PA) Dh70,000 (D) 1,800m
Winner Dergham Athbah, Pat Dobbs, Mohamed Daggash
6.30pm Handicap (PA) Dh70,000 (D) 1,800m
Winner Rajee, Fernando Jara, Majed Al Jahouri
7pm Conditions (PA) Dh80,000 (D) 1,800m
Winner Kerless Del Roc, Fernando Jara, Ahmed Al Mehairbi
7.30pm Handicap (TB) Dh70,000 (D) 2,000m
Winner Pharoah King, Pat Dobbs, Doug Watson
8pm Conditions (PA) Dh85,000 (D) 2,000m
Winner Sauternes Al Maury, Dane O’Neill, Doug Watson
About%20My%20Father
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ELaura%20Terruso%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ERobert%20De%20Niro%2C%20Sebastian%20Maniscalco%2C%20Kim%20Cattrall%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%26nbsp%3B%3C%2Fp%3E%0A
Killing of Qassem Suleimani
First Person
Richard Flanagan
Chatto & Windus
Match info
Uefa Champions League Group H
Juventus v Valencia, Tuesday, midnight (UAE)
Veere di Wedding
Dir: Shashanka Ghosh
Starring: Kareena Kapoo-Khan, Sonam Kapoor, Swara Bhaskar and Shikha Talsania
Verdict: 4 Stars