In the event you thought the tech trade’s absurdity reached its peak when folks had been spending lots of of 1000’s of {dollars} on footage of cartoon apes, suppose once more.
Meta (META) CEO Mark Zuckerberg, the top of the world’s largest social community, and Tesla (TSLA) CEO Elon Musk, who heads Twitter and SpaceX, will bodily battle one another. Sure, two grown males, every value billions, neither knowledgeable fighter, say they will attempt to beat one another up, based on posts on their respective social media platforms.
Why on Earth are the CEOs of two of probably the most profitable firms of their fields keen to grapple one another in, as Musk proposed, a Las Vegas octagon? All of it comes right down to Zuckerberg’s Meta constructing a competitor to Musk’s Twitter.
In line with The Wall Road Journal, Meta’s app is codenamed Venture 92 and can perform equally to Twitter. Musk famously bought Twitter for $44 billion following an acrimonious authorized back-and-forth with the corporate’s former management. Since taking up, although, advertisers have fled the platform fearing the form of content material Musk will enable to flourish on the social community.
In March, Musk estimated that Twitter was value simply $20 billion, based on inner emails viewed by The New York Times. In Might, Fidelity lowered its estimate of Twitter’s valuation to roughly $15 billion, based mostly by itself stake within the firm.
Meta, in the meantime, is seeking to capitalize on the drama with its personal providing that might overthrow Twitter because the go-to platform for real-time information and updates from everybody from your folks to presidents.
And Meta is prepared for a battle. Throughout an all-hands assembly this month, Meta chief product officer Chris Cox confirmed off its Twitter competitor and stated content material creators are searching for a “sanely run” platform, according to The Wall Street Journal.
Musk, as is his modus operandi, has been taunting Zuckerberg on social media in regards to the Twitter competitor. Zuckerberg, in the meantime, has been posting loads of movies and pictures of his numerous exercises and Brazilian Jiu Jitsu matches.
And so right here we’re. Two billionaires are going to bodily battle one another, as a result of one stated one thing imply in regards to the different. In fact it’s tough to say whether or not both will truly take part within the match.
Neither would need to face their workers, shareholders, or the general public in the event that they misplaced in an pointless battle. Then once more, it may be a enjoyable watch.
Signal me as much as ring the bell.
Daniel Howley is the tech editor at Yahoo Finance. He is been overlaying the tech trade since 2011. You’ll be able to comply with him on Twitter @DanielHowley.
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