Twitter Ventures Into Instagram Territory As Musk Nods To Video Editing, Filters Request – Meta Platforms (NASDAQ:META)

The aforementioned features are the signature style of Mark Zuckerberg-led Instagram’s functioning, where users can post videos and photos by adding and editing the content with music, filters, emojis and text. 

This suggests that Musk, who announced his departure as Twitter CEO, plans to make a notable exit as the platform’s chief executive. It also hints that the tech billionaire, despite having given the reins to Linda Yaccarino, continues to approve new features on the platform.

Why It’s Important: This isn’t the first time the two platforms have invaded each other’s territories. 

In December 2022, reports emerged about Meta’s plans to build a new Twitter-like platform in response to the turbulent period witnessed under Musk’s leadership. 

Earlier this year, reports suggested that the Zuckerberg-led company was contemplating the development of its own alternative to Twitter to address the increasing discontent among users. 

Subsequently, Meta confirmed its exploration of a decentralized social network, initially codenamed “P92.” However, the latest rumors indicate that the project is progressing under the name “Barcelona.”

Last week, it was reported that Facebook-parent plans to launch a decentralized text-based social network in the Summer of this year. 

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