Investing Ideas

Meta's Threads Races to 100M Users in Under a Week

Meta's Twitter competitor is off to a strong start. According to Quiver Quantitative's Threads Tracker, Threads has more than 100 million users in less than 5 days since the app went live.

Meta's Twitter competitor is off to a strong start. According to Quiver Quantitative's Threads Tracker, Threads has more than 100 million users in less than 5 days since the app went live. Threads is a sister app to Instagram, and it helps that the image-sharing platform's more than 1 billion users can easily sign up — unless they live in the EU, where the platform hasn't launched yet.

Meta Platforms’ (META), formerly Facebook’s, CEO Mark Zuckerberg provided several updates on Threads user numbers. The app had 10 million users in its first seven hours and surpassed 30 million as of Thursday morning. After about 24 hours, that number had more than doubled.

It's very, very early days for Threads to really judge, as the app lacks basic functionality that many users find essential. There are currently few accessibility options, and screen reader users cannot attach alt text to images. Search is limited to usernames, there's no hashtag support, and you can't post to threads from the Web.

Investing Ideas

Apple Stock Surges on Report Saying It’s Developing Own Version of ChatGPT

Apple (AAPL) stock popped briefly on Wednesday, July 19, after a Bloomberg News report said the company was developing its own artificial intelligence large language model internally.

International

Indonesian Banks Keep Top Slots in Market Cap Ranking on Solid Economic Recovery

Indonesia's GDP expanded by 5.03% in the first quarter of 2023, Reuters reported in May, citing data from Statistics Indonesia.

U.S. Economy

Will Cooling Inflation Help Sell Bidenomics?

U.S. annual inflation slowed to 3% last month, according to the latest Consumer Price Index released Wednesday by the Bureau of Labor Statistics.