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Jim Cramer Backs Meta’s Threads, Which Will Compete With Musk’s Twitter

"I say game, set, match, Zuckerberg," the TV personality said Wednesday on CNBC's 'Squawk On The Street.'

Jim Cramer is picking sides on the eve of the release of Meta Platforms Inc’s (NASDAQ: METATwitter rival

Meta is set to launch Threads on Thursday, a new social media platform that will compete with Elon Musk’s Twitter. Cramer is already anticipating that it will be a huge success.

“I say game, set, match, Zuckerberg,” Cramer said Wednesday on CNBC’s “Squawk On The Street.”

Twitter may have 300 million people, but those are 300 million people who are dissatisfied, which creates an opportunity for Threads, he said.

The planned Threads launch comes just days after Musk was criticized for putting limits on how many Twitter posts users can see per day on the social media platform. The cap on content received plenty of backlash, which has become the norm since Musk took over the company. 

Shortly after he acquired Twitter, Musk rolled out a subscription feature called Twitter Blue and removed all legacy verified accounts from the platform, which was met with confusion and uproar. 

Meta CEO Mark Zuckerberg, on the other hand, has done a good job pleasing users on Facebook and Instagram, Cramer said. 

He understands that it’s all about the community and he’s shown he can create a terrific product, whereas Twitter is awful, he added. 

“It’s obvious that this could be the kinder, gentler Twitter. Twitter is a cesspool. We all know it,” Cramer said. 

Facebook founder Mark Zuckerberg and (right) Twitter owner Elon Musk. Threads, a new app by Facebook parent Meta is set to give Twitter its potentially toughest competition ever. (Photo by Mandel NGAN and Alain JOCARD / AFP) (Photo by MANDEL NGAN,ALAIN JOCARD/AFP via Getty Images) 

When word first got out about Meta’s Twitter-like platform, an executive was quoted saying there was demand for an alternative that was “sanely run,” and Musk didn’t like the comment. 

“I’m sure Earth can’t wait to be exclusively under Zuck’s thumb with no other options. At least it will be ‘sane’. Was worried there for a moment,” Musk said in a tweet response

When one Twitter user warned Musk of Zuckerberg’s recent jiu jitsu success, Musk responded saying he was up for a cage match against the Meta CEO. Zuckerberg confirmed later that day that he would be up for an MMA-style fight against Musk.

UFC president Dana White recently said a potential showdown between the billionaires is being discussed. Although nothing has been confirmed, several sportsbooks have already placed betting odds on the match


© 2023 Zenger Zenger News does not provide investment advice. All rights reserved.

Produced in association with Benzinga

Edited by Arnab Nandy

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