One platform seems to be gearing up for a transformative shift in the ever-evolving landscape of social media. Twitter, a platform known for its rapid-fire conversations and 280-character limit, appears to be embracing change like never before. With an eye on experimentation and a willingness to borrow concepts from various platforms, Twitter seems poised to make some bold moves.
As with any journey into the unknown, some of these experiments will undoubtedly hit the mark, while others may fall short. But that’s the nature of innovation – taking risks, learning from outcomes, and refining strategies based on what works.
What Will Happen to Twitter
Looking at Twitter, they’re ready to try out a bunch of new ideas. It’s like they have a big box of tricks, and they’re going to take them out one by one to see what works and what doesn’t. This is a clever way to go about it, and it’s not just because Elon Musk is involved.
See, in business, we often don’t have all the right answers from the start. It’s okay to learn from what others do, but to really do well, you have to be open to trying things out, experimenting, and even being okay with things not going perfectly. Some of the things they try will be successful, while others might not be.
Before Elon got involved, Twitter was mostly used for sharing short messages and sometimes videos. But now, they’re adding more things to make it more like other popular social websites. This way, they can attract more people to join.
Even though Elon Musk can sometimes act a bit young on Twitter, he’s actually really skilled at making awesome things. He wants Twitter to be a place where people want to hang out more.
What’s in it for me
Imagine social media platforms like big playgrounds where people go to share thoughts and ideas. Well, one of these playgrounds is Twitter. Now, just like when you try new games, some will be super fun, and some might not be as exciting. This is what Twitter is doing – they want to learn from what works and make their playground even cooler.
Something cool is that Twitter wants to help people who create things, like stories and pictures, feel really happy on their platform. They believe that when creators feel special, the playground becomes more awesome. This also means that people from all over with different ideas and stories can join in!
You might wonder, “What’s in it for us?” Well, this means Twitter is going to spend more time and energy to make the playground a great place for us to chat and have fun. It’s like they’re adding new swings and slides to the playground. In this case, they’re making Twitter more colorful and exciting.
Basically, it suggests that Twitter is ready to invest considerable time and resources into enhancing the creator experience. This increased focus could lead to a more vibrant and interactive platform, one that encourages creative expression and community building.
Interestingly, this move could also have a positive impact on Elon Musk’s involvement with the platform. His investment in Twitter could see significant returns if the platform’s efforts to boost popularity and engagement pay off. It’s a symbiotic relationship where both Twitter and its investors stand to benefit from a more dynamic ecosystem.
Twitter as a Super-App
Musk has been quite open about his ambition to transform Twitter into what’s known as a super-app, a concept similar to China’s WeChat. The idea is to create an all-inclusive platform that covers almost everything a person might want to do online.
Visualize an app where you cannot only chat but also listen to podcasts, shop, watch videos, and much more. Nii Ahene, the Chief Strategy Officer of a marketing company called Tinuiti, explained that users of this app would have a wide range of activities available to them all in one place.
Twitter already offers features like live audio conversations, longer text messages, and video streaming, like the recent show started by former Fox News host Tucker Carlson. Now, Twitter is diving into paid subscriptions, and if this effort succeeds, they might even share some of the subscription money with users.
According to Ahene, this could potentially make Twitter a more mainstream version of platforms like Patreon, where creators earn money directly from their supporters. However, turning Twitter into such a comprehensive platform won’t be easy.
Right now, Twitter isn’t primarily used for all these activities. So, shifting its focus and expanding its capabilities would require significant investment and time, especially since they’re operating with a relatively small team. Whether this transformation will work out is something we’ll have to wait and see.
Twitter now called “X”
Twitter is currently taking inspiration from different platforms and incorporating their features to enhance the user experience. At the moment, the rebranding of the platform only involves changing its name.
No fresh features have been introduced yet, aligning with Musk’s apparent strategy of generating excitement initially and rolling out actual changes much later. However, this name alteration signifies that Musk is likely to retain control of the company in the immediate future.
Mandeep Singh, an analyst at Bloomberg Intelligence, suggests that after Musk’s acquisition in April 2022, some onlookers believed he might implement alterations to Twitter and then quickly sell it to another buyer. With the renaming, this option seems improbable, as it’s unlikely that any potential buyer would now take that step.
Musk’s Problem-Solving Genius
If you haven’t seen Elon Musk’s BBC interview, it’s worth a watch. Elon talks about misinformation with the BBC interviewer. The interviewer says there’s a lot of negativity on Twitter, so Elon asks for examples.
When the interviewer can’t give examples, Elon hints the info might not be accurate. People saw this as Elon taking charge, but I see it as him being curious. It’s like he’s saying, “Tell me more so I can fix it.”
Mark Cuban mentioned he’s getting fewer likes and retweets. Elon also noticed a weaker Twitter reach and is finding out why. This shows Elon cares about feedback and wants to improve.
If someone showed Elon proof of hate speech on Twitter, he’d likely take it seriously. He’s committed to fixing real issues, not just opinions from users. It’s not just about opinions; he seems committed to making positive changes based on real issues people bring up.
Platform “X” Roadblocks
Creating an “everything app” could come with many challenges. These could involve confusing users due to too many features and struggling to attract advertisers who want to promote their products.
Elon Musk, inspired by Tesla’s minimal advertising, believes that a great product can succeed without heavy advertising. However, many big brands spend lots of money to advertise on Twitter, which is different from Musk’s view.
Expanding the platform to include activities like shopping and premium subscriptions might lead to long-term success. This approach could create multiple income sources, making the platform more stable and helping it grow.
Yet, this expansion won’t be easy in the short term. It would need significant investments in staff and technology. Twitter currently faces challenges, like legal issues and a past reduction in staff. This makes it uncertain if they can pull off this expansion.
Analyst Mandeep Singh highlights the large investment required for the needed technology, estimating costs of $40 to $50 billion. He points out that Twitter’s current structure as a standalone app lacks the technology to transform into a platform offering various services.
