Why Threads(App) Is Important For The World
Threads is launched by parent company that is Instagram on 6 July 2023. It is a real competitor of twitter who has monopoly in this field.
Twitter is a popular social media platform that allows users to post and interact with short messages called "tweets." it was created by jack Dorsey ,biz stone, and Evan Williams And launched in march 2006. The main idea behind Twitter was to provide a platform for sharing thoughts, news and updates in real-time. Elon Musk (wealthiest person in the world at this time) buy twitter for $44 billion . Now Elon Musk has complete control on twitter
As we know monopoly is not always good for market. On this time Instagram launch a new app that work same as twitter do .
Threads has a unique UI as you can see below
1 With no competition, Twitter can make profit without much effort, therefore it can encourage x-inefficiency
2 Twitter can gain political power and the ability to shape society in an undemocratic and unaccountable way
3 Consumers pay higher prices and fewer consumers can afford to buy. This also leads to allocative inefficiency because the price is greater than marginal cost.
4 Customer exploitation is the most frequent sign of a monopoly market. Lack of alternatives results in unfair availability, value, and cost treatment of the consumer. Twitter may find it easy to make inferior or substandard service. if it chooses to do so because there are no competing products for the market that already exists. They believe the products will be bought after all.
But there are some advantages if market has a Monopolistic company like; Development and Study, Most effective and dynamic ,Most effective and dynamic, Most effective and Dynamic, Etc. In my opinion A competitive market is better then Monopolistic market .
