The metaphorical Zuckerberg-Musk cage match has started. Threads already poses a real threat to Twitter, but it still has a lot to prove once the hype dies down. And Meta must also not lose sight of its real battle—with TikTok.

Key Question: What does Threads need to do to sustain growth and build a viable business, and what does its launch mean for Twitter and Meta?

KEY STAT: Over 100 million people have signed up for Threads, but there’s a long way to go for it to reach 1 billion users.