You’ve surely seen the news that Meta and Mark Zuckerberg launched a Twitter competitor called Threads. Along with that, you’ve also surely seen reports that Threads amassed somewhere around 100-gagillion-trillion-billion new users in its first 83 minutes of existence (note: all numbers are approximations). The sudden launch and meteoric growth of Threads was certainly interesting to watch and discuss, but, from an entrepreneurial perspective, the most important data is coming a couple weeks after its launch.
According to industry sources, daily active users on Threads has dropped 70%. Meanwhile, average time on site is 4 minutes (versus 30 minutes for Twitter).
As someone who teaches entrepreneurship for a living, I want to discuss what’s happening and why it matters. But first, I’m going to borrow a reliable pedagogical tool from my trusty bag of professor tricks to test your knowledge of the situation. That’s right: It’s pop quiz time!