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The Rise of Meta’s Threads – Will it succeed or join the list of Meta’s failed projects?

Meta, formerly known as Facebook, has unveiled its latest social media platform: “Threads.” Positioned as a direct rival to Twitter (now X), Threads introduces a text-based experience that seamlessly connects with your Instagram following. In Mark Zuckerberg’s words, it’s “an open and friendly public space for conversation,” blending the best elements of Instagram with a fresh twist on text-based interaction.

But for entrepreneurs relying on social media, the million-dollar question remains: will Threads soar to success or crash and burn like some of Meta’s previous ventures?

The Entrepreneur’s Dilemma: Will Threads Rise or Fall?

Meta’s track record with new projects isn’t flawless. If you’ve followed Facebook’s history and market analysis, you might recall their 2012 attempt, “Poke,” aimed at emulating Snapchat’s success. It was shuttered in 2014. Then there was “Riff” in 2015, designed for collaborative video creation similar to Vine, which faded into obscurity. Not to mention Facebook’s “Questions” (a Quora or Reddit clone) and “Bonfire,” a response to Houseparty, both of which didn’t quite make the cut.

A Risky Business: The Allure of Meta’s Experiments

While Meta is not alone in launching and retiring new products, their resources and audience size mean they can afford to experiment. Amazon, for instance, has seen more than its fair share of failed products, such as the Amazon Dash, Fire phone, Amazon Auction, and Amazon Tap. So, what can you expect if you decide to dive into Threads? Is it worth the time and energy, even if the platform doesn’t become a long-term success?

The Clubhouse Phenomenon: Ephemeral Success, Enduring Benefits

Consider the “Clubhouse effect.” In March 2020, the Clubhouse app emerged during the early stages of the UK and USA’s COVID-19 lockdowns. It swiftly gained popularity, boasting 600,000 users by December 2020 and 3.5 million by February 2021. At its peak, Clubhouse was buzzing with entrepreneurs networking, hosting panels, and becoming influencers within its walls. However, it has since lost some of its initial user base and faced competition from Twitter and LinkedIn.

Threads: A Potential Clubhouse in the Making

The key question for entrepreneurs who invested time and effort into Clubhouse is whether it was worth it. Even if short-lived, it served a purpose and brought benefits, including new clients and increased engagement. Threads could follow a similar trajectory – a platform that’s of the moment, set to produce Threads influencers, and then potentially fade away. Entrepreneurs must assess the potential long-term gains from short-term efforts.

Making the Threads Decision: Considerations for Entrepreneurs

Before creating a Threads account, consider a few critical factors. Does Threads align with your marketing strategy? If you’re in an experimental phase, it might make sense to explore a new platform. However, be prepared to invest time in learning the ropes and staying active. Also, assess your current position. If your business is thriving, diverting resources to Threads might not be the best move. Sometimes, sticking to your current strategies is the wiser choice, freeing up your mental bandwidth.

Making the Threads Decision: Considerations for Entrepreneurs

In conclusion, the decision to join Threads as an entrepreneur comes down to going all in or staying well out. The rewards often go to early adopters, so choose intentionally and commit to your choice. Securing your username is only the first step; the real work lies ahead. Act with purpose, and avoid getting involved unless you’re willing to see it through. Your future self will likely thank you for the well-thought-out decision.

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Meta Threads: Success or Failure?

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