Elon Musk Vs. Mark Zuckerberg: Meta Said To Be Scheming To Take Away Twitter's 'Bread And Butter' - Meta Platforms (NASDAQ:META)

Facebook and Instagram parent Meta Platforms Inc. META reportedly discussed, in December, how to build the next Twitter following the chaotic ride the social media platform has had under new leader Elon Musk.

What Happened: In November, Meta employees joined a virtual brainstorming session to discuss ideas for building a Twitter rival, according to The New York Times.   

“Twitter is in crisis and Meta needs its mojo back,” one Meta employee wrote in a post. “LET’S GO FOR THEIR BREAD AND BUTTER.”

Many ideas floated during the session, including the rollout of Instagram’s new “Notes” feature, building a text-focused app using Instagram’s technology and adding a new Twitter-like feed to Instagram. They suggested names for the features as Realtime, Real Reels and Instant.

See Also: Is Elon Musk Unwittingly Helping Mark Zuckerberg? Why This Meta Analyst Can See Stock Doubling Within Months

Why It’s Important: A race was going on to dethrone Twitter and capitalize on the chaos of its new regime under Musk, who acquired the microblogging site for $44 billion in October, the report noted. 

Since Musk started his Twitter CEO journey, a barrage of new features, policies and plans have been introduced, some of which are yet to sit well with netizens

In November, Musk laid off many employees from the company across departments. Musk’s new content moderation approach has also raised concerns. Oreo cookie maker Mondelez International Inc. pulled ads from the platform, saying Musk’s takeover caused hate speech to “increase significantly.” 

This story was originally published on Dec. 8, 2022.

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