A thread for your thoughts

By now, you probably have heard the buzz around the new Meta app, Threads. At launch, the app is available on iOS and Android in 100 countries —?though not in the EU just yet. This reminds me of Google Bard, the AI chatbot, which is also not available in the European Union yet due to data privacy concerns.

According to Mark Zuckerberg, the app has already gained 10 million users in the first seven hours of launch. This is not at all surprising especially given the ease of sign up and the large ecosystem of 1 billion Instagram users who can authenticate with their existing credentials and carry over or customize the list of follows. This is one big advantage over other platforms such as Bluesky, Mastodon, and Post.News as they compete for a piece of the social network pie —?and along with it, our attention.

At first look, the user interface is simple and I especially like the carousel feature for photos. It has the 'new app' feel —?kind of like test driving a new car with the new leather smell and a sense of familiarity. Quite a few of the media brands are already there as well, including Washington Post, TechCrunch, Bloomberg Business, Buzzfeed, The Verge, New York Magazine, and Vice. And I suspect many more will follow.

However, since the feed is showing everything under the sun instead of just people that you follow, it can feel a bit chaotic at times. But perhaps this can help bring back the serendipity of social media that I miss, while nudging us to find new accounts and creators to follow. I do, however, miss the chronological feed and the ability to scroll and post via a website instead of the iPhone app. And it will for sure be nice to have alt text support and ability to DM.

Other challenges do exist. As I commented earlier in the week, while the timing couldn't have been better for Meta — whether or not Threads could succeed and become a true 'rival' to Twitter remains to be seen. Will people 'trust' Meta enough to sign up for Threads, or does it matter? Will Meta be able to solve the revenue question that Twitter has been struggling with? And if you have left the likes of Facebook due to concerns about their data privacy practices, would you use the new Meta Threads? And finally, even if Meta has indicated their intent to make Threads compatible with ActivityPub, the open source protocol behind Fediverse, it is unclear how receptive the Mastodon community (and others) will be.

Signing up users is easy — keeping them around and engaged is hard. It will be interesting to see who remains after the initial hype. The appeal is certainly there. And it looks like the reach and scale will be as well, especially if / when it is able to launch in the EU — Meta's second largest market by revenue. While Threads might not offer a true replacement, it does offer a somewhat viable alternative. (I can't believe I am actually saying this.)

And to be honest, do we truly want a replica of the bird app?

I guess only time will tell.

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This week on One Vision ...

What is the responsibility of the financial services industry —?and as a society —?when it comes to sustainability? With almost $40 trillion in assets under management, is sustainable investing truly as green as we are led to believe??

In this episode of One Vision, I chat with Hannah Duncan —?the candid and powerful blogger of the year —?on green gap and using technology for good. We are not all powerless, and we can do something to help change the trajectory of the future of the planet. After all, what’s more important than safeguarding our home?

It’s beyond time to re-calibrate our risks and be the voice of the voiceless. It is our collective responsibility.

Give this episode a listen and let us know what you think.

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Recently, I wrote about the evolution of work, and how financial services can help foster new economic opportunities?for more people outside of traditional work, including the creator economy.

Read the full article here on FinTech Futures .

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Have you heard the news?

I am super excited that my next book, The Metaverse Economy, co-authored with?Arunkumar Krishnakumar, will be released this coming August.

It is now available for pre-order here:?

?? Kogan Page:?https://lnkd.in/eKY46dtR

?? Amazon:?https://a.co/d/4KaoXyv

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Beyond Good, my first book, is available on Amazon, Barnes & Noble,?Bookshop.org, Kogan Page and anywhere books are sold. You can check out what others are saying about it?here.?

If it resonates, please leave us a review on?Amazon?or on goodreads.com.?

Thank you!

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