Business

Meta unveiled Threads, a text-based conversation app that it is promoting as a more “friendly” social-media rival to Twitter. Threads is linked to Instagram, one of Meta’s existing social-networking sites, allowing its young base of users to switch easily between the two. With Twitter becoming ever more erratic under Elon Musk’s stewardship, Threads could be an existential threat to the platform. Some 10m people signed up to Threads in the first seven hours, according to Meta.