Kingsview CIO Scott Martin on Fox Business Cavuto Coast to Coast 7.5.23
DAVID ASMAN: Well, meanwhile, the battle between Elon Musk and Mark Zuckerberg is making its way out of the cage. Meta planning to release a microblogging app. It’s called Threads. And that’s going to happen this week, apparently. And analysts are saying it could be a tough competitor for Twitter. Kingsview Asset Management CIO and Fox News contributor Scott Martin is here to tell us who’s going to win and who’s going to. No, I wouldn’t go that far. But but it’s a it’s a great boxing match. If you put them together. I wouldn’t count either one of these brainiacs out, would you?
SCOTT MARTIN: Maybe it’ll be a draw, David. I mean, we’ll see what the oddsmakers say about it. But remember, in boxing and like UFC, they have weight classes here to kind of level off or say not give somebody that has a bigger weight advantage, the actual advantage in the fight. So it’ll be interesting to see how that works out if there is that hand to hand combat, given that Zuck is giving up what I think about 30 to £40, at least on a good day. And also, though, Zuck may have the lead, David, when it comes to the fact that Facebook has so many more active users than, say, Twitter does these days. Right.
ASMAN: Well, Elon has ticked off a lot of free riders on Twitter by pulling some of the freebies that they were getting. You get all these freebies. If you give $8 a month, is that does that work to zuck’s advantage?
MARTIN: It may. I mean, but I think the other thing that Elon has done for Twitter in that respect, though, David, is he’s cleaned it up. He’s he’s made it a more freer kind of optimized, say, platform versus Facebook, which is still a little bit a little bit just a clumpy, I guess, in a word. So depending what Zuck releases here with regards to the threads application and what Elon does in response, because I believe that Elon has been doing a lot of what, say, Twitter’s work was needing to be done over the years, that he’s finally kind of realized that that he’s been able to execute on. So you’re talking about a pretty dead heat race here. And also the fact, too, that don’t forget, folks like social media platforms, they like the exposure across, say, multiple platforms. So maybe, David, people end up choosing both, right?
ASMAN: Then there is the ideological split between the two guys. Elon clearly closed down a form of censorship that the government was involved with. I think even a judge just realized that while Zuck actually let the FBI in and he’s, by the way, in Zuckerberg’s favor, he said that some of the censorship that happened on Facebook was a big mistake. But he did let the the censors in, whereas Elon came in saying get out.
MARTIN: He did. And if you think back, David, over the last few years when Zuck has been the one who’s gone to Congress and kind of laid out a lot of the intricacies of Facebook and some of those things you just mentioned with regards to Elon Musk, who’s been maybe a little bit more standoffish or maybe a little bit more say right leaning when it comes to all those exposures that you mentioned happened. So there’s kind of that that that give and take with regards to the government on both sides there. But also the fact, too, that both platforms, I believe, are accelerating very well with respect to what they’re delivering to their to their end user. And that’s something that both can take advantage of here. Yeah.
ASMAN: Scott Martin, what a pleasure to see you. Scott. Say hi to your wonderful family for me.
MARTIN: See you at the fight, buddy.
ASMAN: Okay. All right. Yeah. Wouldn’t it be great if there really was an actual fight that results? No, I don’t think it’ll actually happen. Although they could happen. They could have fun with that.
MARTIN: See you. All right.
ASMAN: See you, Scott.