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Threads: the Twitter killer?

In a bid to attract users dissatisfied with recent changes made by owner Elon Musk, Meta Platforms chief Mark Zuckerberg has introduced Threads, a Twitter-like platform. Within four hours of the release, Zuckerberg claims that the app had over 5 million downloads already, with signups claimed to be 10 million by hour seven.

Of course, The Deep Dive wouldn’t be the last to test out the new platform — and here’s what we think.

But first, give us a follow on Threads: @the.deep.dive

One key advantage of the app over Twitter is its potential access to billions of users already on Meta’s Instagram, which serves as the foundation for Threads. This is why many are calling Threads a serious contender to Twitter’s user base, with some labeling it the “Twitter killer”.

You can read more on the matter here.

What’s going on?

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• Stellantis and Canada Resolve Battery Plant Dispute (theDeepDive)

• Tesla and Chinese Rivals Signal Truce in Brutal EV Price War (Bloomberg)

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• US Economy Exceeds Expectations with Major Job Boost in June (theDeepDive)

• Blackstone Shakes Up Portfolio: Sells $3.1B Industrial Real Estate and Eyes Las Vegas Exit (theDeepDive)

• Canada’s Government Suspends Advertising on Meta Platforms in Response to News Blockage (theDeepDive)

• Thermo Fisher to acquire CorEvitas for about $913 million (Reuters)

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The stock market and stuff

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In the juniors

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• Mullen Automotive Climbs 75% In Pre-Marketing Trading After Announcing Share Buybacks (theDeepDive)

• Trump SPAC Digital World reaches in-principle settlement with SEC (SeekingAlpha)

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