There’s a reason Twitter execs panicked upon the arrival of Meta’s copycat service, Threads: The new platform is quickly taking a bite out of Twitter’s traffic. According to independent estimates cited by The Wall Street Journal, visits to Twitter’s site fell 5 percent in the two days after Threads’ debut (measured against the same period of time a week prior). The company is suffering an even larger decline—11 percent—when compared to the same period last year. Meta CEO Mark Zuckerberg announced on Monday that Threads had amassed 100 million users in its first five days. Musk has not been handling the competition well.