Meta working on potential Twitter rival

Twitter is losing popularity

Starting with a little Twitter background, the platform has experienced at least two outages
in recent weeks, including one that prevented users from accessing their timelines. These
problems were reportedly compounded by Musk's decision to lay off more than 75 percent
of the company's employees - including key engineers.
Since Musk took over, the platform has also been hit by controversy over content
moderation and unpopular policy changes.

Meta’s situation
Meanwhile, for many years, Facebook dominated the social network market
unquestionably, with hardly any competition, but today, the giant's situation no longer looks
so bright, as the portal has severely lost its attractiveness. Competition in the form of
TikTok and other communication platforms is taking users away from it.
As if that were not enough, more companies are turning away from Facebook, using it as a
login method for their own services. Dell, Amazon, Ford, Nike, Best Buy, and many others
have recently done so. In addition, the portal's ideas no longer excite teenagers, while the
Metaverse is making serious losses for the company.

New plan for Meta

So under such circumstances, Meta is looking for more ways to attract users and make
money, and the most recent is reportedly a social networking platform designed to be an
alternative to Twitter.
"We believe there is an opportunity for a separate space where creators and public figures
can share timely updates about their interests," a Meta spokesperson said in a statement
to CNN, which basically described Twitter's mission without naming the platform.

What we know about the P92

The project, code-named P92, is in its early stages and is being led by Instagram head
Adam Mosseri, according to CNN.
The platform would be decentralized, meaning users could allegedly create different
servers or communities, each with its own rules, rather than one central Meta-controlled
platform.
The concept is similar to Reddit or Discord but is a shift from the way in which Meta's other
platforms operate.
Meta declined to comment beyond its statement, including responding to questions about
potential features of the new platform or the launch schedule. So for now we don't know too
much and the portal is in the early stages of development, but overall the situation
emphasizes the ongoing evolution of the social media industry and the need for
companies to constantly innovate and adapt to stay competitive.