Okay, okay. It's not suspicious. that It's obvious that China's really wants a piece of that sweet, sweet social media pie. Enough to add a new feature, to the wildly successful video sharing app (and the key to fame of countless creators), that already exists in other social media apps, specifically 's . TikTok Meta Instagram . That's the feature. Texts. Texts Allow us to elaborate. TikTok is primarily a video-sharing social media app, but with the of text posts, users can now make/share.. Text-only posts (see below). introduction In effect, letting users publish text-only posts is no different than what users can already do on platforms like Instagram, but tech publications are that the timing coincides with what is perhaps the downfall of Elon Musk's / /__ __™ app. Major tech companies are trying to capitalize on the turmoil caused by Murk's purchase of the company last year and woo advertisers on to their platform by offering similar functionality to brands looking to shove their products down consumers' throats 😇. reporting Twitter X Everything TikTok is not an exception. Given how poorly X, formerly known as Twitter, is doing in terms of revenue and profitability, it's no wonder that its competitors are circling around the app like sharks looking for blood. Mark Zukckerberg's Meta drew first blood with the launch of Threads (which was by no means the first microblogging app to challenge Twitter's dominance), but Zuck's platform has run into its own in terms of keeping users engaged (lol). set of issues X's problems are by no means . Musk's rebranding of Twitter is going as well as you'd expect it to: take, for example, the fact that Meta, Microsoft, and countless others already the intellectual property rights to the letter 'X', or the heat Musk is receiving for installing a giant 'X' logo at Twitter 'X' HQ, from San Francisco residents and ultimately in its removal. limited to its books hold drawing flak resulting That said, 'X's monthly users have reached a new high of over half a billion people, Musk recently (or 'd idk). tweeted X In contrast, users are already leaving Zuckerberg's Threads in droves, prompting the company to consider adding more "retention-driving hooks" to entice them to return to the app, including by AI-powered chatbots, Reuters . But while Meta might be failing at Threads, it is certainly not failing at Reels, Meta's answer to TikTok. using reported According to figures released by the company this past week, Reels videos are growing rapidly among both users and advertisers and are quickly catching up to the ByteDance-owned TikTok app. Meta says the rags-to-riches growth of Reels, which are viewable on both Facebook and Instagram, speaks in part to the company's improving recommendation software, long the Chinese-owned rival's strong point, Reuters . wrote Phew, what a week. ranked #64 on HackerNoon's Tech Company Rankings this week. was on the #4 spot, while was on #2. TikTok Facebook Instagram 👋 You’re reading of HackerNoon's Tech Company News Brief, a weekly collection of tech goodness that combines HackerNoon's proprietary data with internet trends to determine which companies are rising and falling in the public consciousness. goes live tomorrow. Hate waiting? No problemo! Just subscribe to receive the newsletter a day early in your inbox. part 1 Part 2 here complete In Other News.. 📰 Sony PlayStation 5 console sales pass 40 million — via . Reuters LinkedIn seems to be working on an AI ‘coach’ for job applications — via . The Verge Zuck Says He's 'Not Sure' if the Elon Cage Match Will Happen — via . Gizmodo Twitter, now X, threatens suit against nonprofit studying hate speech and misinformation — via . CNBC OpenAI’s head of trust and safety is stepping down — via . CNN Scoop: Google Assistant to get an AI makeover — via . Axios And that's a wrap! Don't forget to share this newsletter with your family and friends! See y'all next week. PEACE! ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon

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