Meta Eyes Bulgaria for Investment After 2028, Says PM Zhelyazkov
Meta, the parent company of Facebook and Instagram, has expressed interest in investing in Bulgaria after 2028, Prime Minister Rosen Zhelyazkov announced
In what may be the clearest sign yet that Twitter sees Meta as a competitive threat, the former has threatened the latter with a lawsuit following the successful launch of Meta's new Twitter rival, Threads, reported CNN.
An attorney for Twitter on Wednesday sent a letter to CEO Mark Zuckerberg accusing Meta of stealing trade secrets by employing former Twitter employees. Semafor was the first to report on the letter. The veracity of the letter was confirmed to CNN by a source with knowledge of the situation.
In a letter, Alex Spiro, an outside lawyer for Twitter owner Elon Musk, claimed that Meta had committed "systematic, willful, and unlawful misappropriation of Twitter's trade secrets and other intellectual property."
In response to reports on the letter, Musk tweeted: "Competition is fine, cheating is not."
The letter goes on to say that Meta hired former Twitter employees who "have improperly retained Twitter documents and electronic devices" and that Meta "deliberately" involved these employees in developing Threads.
"Twitter intends to strictly enforce its intellectual property rights," Spiro said, adding, "and demands that Meta take immediate steps to stop using any Twitter trade secrets or other highly confidential information."
The letter was dismissed by Meta spokesperson Andy Stone.
"No one on the Threads engineering team is a former Twitter employee -- that's just not a thing," he said on Threads, as per CNN.
Since Musk paid USD 44 billion to buy Twitter, the social network has faced competition from an increasing number of smaller microblogging sites, including the decentralized social network Mastodon and Bluesky, a rival supported by former Twitter CEO Jack Dorsey. However, Twitter has not indicated that it will file a lawsuit.
Unlike some Twitter competitors, Threads has grown quickly, and, according to Zuckerberg, 30 million users signed up for the app on its first day. Threads was the number-one free app on the iOS App Store as of Thursday afternoon.
According to Carl Tobias, a law expert at the University of Richmond, the legal threat may or may not result in litigation, but it might be a tactic to impede Meta.
"Sometimes lawyers, they threaten but don't follow through. Or they see how far they can go. That may be the case, but I don't know that for sure," Tobias told CNN.
He added: "There may be some value to tying it up in litigation and complicating life for Meta," CNN reported.
Follow Novinite.com on Twitter and Facebook
Write to us at editors@novinite.com
Информирайте се на Български - Novinite.bg
/ANI
Bulgaria has overtaken both Greece and Romania in terms of purchasing power
From January 1, 2026, Bulgaria will officially become part of the eurozone, and the Bulgarian National Bank (BNB) will join the Eurosystem's joint production pool for euro banknotes
Bulgaria and Lebanon have agreed to establish a regular air route connecting Sofia and Beirut
Bulgaria currently has gasoline reserves sufficient for around 35 days and diesel for over 50 days, according to Assen Assenov, chairman of the State Agency “State Reserve and Wartime Stocks”
Eleonora Negulova, chairwoman of the National Association of Small and Medium-sized Businesses, warned that the draft budget for next year could hit small enterprises
The Bulgarian government under Prime Minister Rosen Zhelyazkov says the country is fully prepared for the switch from the lev to the euro on 1 January 2026, having finalised key legislative and operational steps.
Bulgaria's Strategic Role in the EU's Drone Wall Defense Initiative
When Politics Means Violence