Meta is actively considering the development of a decentralized social network dedicated to sharing text updates, as confirmed by a company spokesperson on Friday. This initiative may position Meta directly against Twitter, which is owned by billionaire Elon Musk.
“We are looking into a standalone decentralized social network that facilitates text sharing. We see an opportunity for a dedicated platform where creators and public figures can provide timely updates relevant to their interests,” the spokesperson stated in an email to Reuters.
The news was first reported by the Indian business outlet Moneycontrol.com, which cited anonymous sources familiar with the matter. According to the report, Meta’s upcoming application is set to leverage ActivityPub, the decentralized protocol that also supports Mastodon and other similar federated applications.
Unlike Twitter and Facebook, which operate under a centralized authority, decentralized platforms like Mastodon function across numerous computer servers. These servers are predominantly managed by volunteer administrators who collaboratively form a federation.
The new application from Meta is expected to be branded under Instagram and will allow users to sign up or log in using their existing Instagram credentials, as mentioned in the Moneycontrol report.
In related news, Bloomberg News reported earlier this week that Meta plans to implement further job reductions in the near term, just months after cutting over 11,000 positions from its workforce.
This latest wave of layoffs is attributed to the company’s financial goals and is said to be distinct from ongoing organizational restructuring efforts, according to sources familiar with the situation.
When approached for comment regarding the Bloomberg report, Meta declined to provide a statement to Reuters.
Last month, the Washington Post indicated that Meta was considering job cuts as part of its reorganization and downsizing strategy.
During that time, Meta did not confirm the report but spokesperson Andy Stone referenced several prior remarks from Chief Executive Officer Mark Zuckerberg, which hinted at more reductions in the workforce being on the horizon.
© Thomson Reuters 2023
