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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
TechMeta

Mark Zuckerberg’s Threads traffic is now down 70% from its peak—just 2 weeks ago

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
July 21, 2023, 10:49 AM ET
Mark Zuckerberg
Meta CEO Mark Zuckerberg.George Frey—Bloomberg/Getty Images
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People are seemingly turning their back on Meta’s Threads nearly as fast as they flocked to it.

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A report in the Wall Street Journal, citing data from Sensor Tower, says the number of daily active users is now down 70% from its peak on July 7, with just 13 million actively engaging with the platform.

That follows a report earlier this week from SimilarWeb that saw the number of daily active users dropping from 49 million to 23.6 million in just a week. Compiling data from the two reports indicates a 45% additional drop in active users in the past week.

Even users who are active on Threads are spending less time on the platform. Sensor Tower data shows the average time spent has dropped from 19 minutes to just four minutes on iOS and from 21 minutes to five minutes on Android devices. (Threads is currently geared toward mobile devices and does not have a desktop client.)

Twitter users have remained steady at 200 million.

Meta and Mark Zuckerberg have not reacted to the new numbers from Sensor Tower, but on Monday, Zuckerberg addressed the drop-off, saying it was expected and he anticipates user numbers will stabilize in the coming months.

“Early growth was off the charts, but more importantly 10s of millions of people now come back daily,” he wrote. “That’s way ahead of what we expected. The focus for the rest of the year is improving the basics and retention. It’ll take time to stabilize, but once we nail that then we’ll focus on growing the community. We’ve run this playbook many times (FB, IG, Stories, Reels, etc) and I’m confident Threads is on a good path too.”

The Threads app’s feed, on Thursday, posted a video of Instagram CEO Adam Mosseri listing new features the app plans to roll out in the near future to help retain users, including post editing, a following feed, post search and hashtags, along with a Web presence.

About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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