Tech News Roundup For July: Threads vs. Twitter, ChatGPT's Decline, Nasdaq and More! Tech 2023

Over the years, the Twitter platform has suffered from weak growth and difficulty in turning towards profitability, despite the use of the platform by hundreds of millions around the world. Since Elon Musk's acquisition of the platform for $44 billion last year, the platform's pain has increased, which is placing strange restrictions on users, the latest of which is the maximum number of tweets that users can view every day.

At the same time that Twitter was suffering from drastic and sharp changes that led to user anger and investor search for alternatives, the “Meta” company began working on an alternative from its development of the Twitter platform, and the result was the new Threads platform that was launched a few days ago and quickly attracted tens of millions of users. Register thanks to its close and direct link to the Instagram platform.

The "Threads" application, which was launched by the "Meta" company, has gained great demand from users, as their number reached 100 million within 5 days of its launch.

This beginning gave the impression that Threads would become one of the alternatives to the Twitter application, but the significant decrease in the number of daily active users from 49 million to 23.6 million in one week dispelled this impression.

This decrease shows that Threads is having difficulty maintaining daily active users, after the huge jump in subscriptions. Data from several interaction monitoring sites - including Similarweb - revealed a 20% drop in daily active users and a 50% drop in the time users spend on the app.

A similar site reported a 25% drop in daily active users and a more than 50% drop in app usage time.

This change in user behavior underscores the difficulties new platforms have in retaining interest once curiosity about them has run its course in the early days. Threads faces a difficult journey to establish itself as an integral part of users' social media habits.

Threads has followed the path of many platforms that garnered huge interest when they launched, but interest quickly plummeted to lower levels, highlighting the challenge of retaining users in the fast-paced world of social media.

Many of the stats mentioned are based on Android usage, which is somewhat easier to track than iOS users. In a post titled Threads, Instagram CEO Adam Mosseri said Meta is not focusing specifically on engagement metrics at this point with the Threads platform, writing: "Our focus now is not on engagement, which is important of course, but our focus now is on overcoming the initial hurdles we see with each new product, building new features, and improving performance."

And while the decline in engagement with Threads may sound like good news for Twitter, the company still has plenty of reason to worry about its newest competitor.

A few months ago, ChatGPT set new records when it reached 1 million users in just 5 days and jumped to 100 million users in 2 months as the fastest Internet platform in history. But in addition to the recent outperformance of Threads in terms of speed, the platform witnessed its first decline in demand with a decrease in the rate of use by about 9.7% in the month of June, in addition to the number of unique visitors decreasing by about 5.7% at the same time.

The Nasdaq 100 index is one of the most important stock indices in the world and a well-known benchmark for assessing the state and direction of the technical field as a whole. It includes the 100 most important companies from the giant Nasdaq Stock Exchange, which includes companies with a value of nearly $ 20 trillion. However, at the present time, there are two companies that dominate a quarter of the movement of the index, while there are only 6 companies that displace more than half of it, while the other half includes 94 giant companies.

A few years ago, a social media platform called IRL (an acronym meaning “in real life”) appeared and claimed to focus on real and direct communication for the young and young generation. But ironically and contrary to the company's name, it was found that 95% of the platform's 20 million users are nothing but robots and do not exist "in real life." Now, the scams are back to haunt the company, which has received more than $200 million from some of the world's largest tech investors.

In 76 countries around the world, drivers drive their cars to the left of the road instead of to the right as is the norm, and in these countries (which include the UK, India, Australia, Japan and others) the steering is required to be on the right of the vehicle and not on the left. But due to “manufacturing difficulties,” Tesla decided to ignore this completely and stop selling right-hand drive cars, and it angered drivers even more when its alternative offer was a grab stick so that they could take parking cards and take orders from restaurants.

A while ago, a French company made the news when it secured about $120 million in funding within just a month of its founding, and now another company called Inflection AI is developing “personal artificial intelligence” that was founded just a year ago, and recently attracted $1.3 billion in funding to take its valuation above the threshold. 4 billion US dollars.