Twitter is pivoting to video, as all dumb websites eventually must
The pivot-to-video strategy, which has been attempted and failed at by countless content companies, has its own Wikipedia page.
The pivot-to-video strategy, which has been attempted and failed at by countless content companies, has its own Wikipedia page.
From the company slashing staff and rate limiting APIs to save money comes: the most expensive content to host
a move only a true busines genius could execute
Yeah, you know what would've been a better solution? Do the exact opposite of every decision Musk has made.
I think Twitter could've been profitable with a few small tweaks to get more from big content generators. When running a SM site, your 1 priority should be to make the experience for regular users better and make money from content producers. Maybe have a few money-making options for regular customers like paying to remove ads, but the bulk of the revenue stream should come from ideas like:
This only works because Twitter is already big, so if you're starting from scratch, you just don't charge for anything and maybe run some ads to offset losses. But once your platform gets big, that's when you start milking the whales.
But no, Musk instead tried to milk the userbase, so the userbase just leaves. He also decided to reinstate undesirable accounts, which offends advertisers. And he decided to make account authentication worthless, so content creators have no reason to stay. He's making every possible wrong decision.
The Wikipedia page, to save a few clicks.
I'm glad to know that people out there still like to read. It's terrifyingly concerning that 54% of adults in America, have the literacy at the 6th grade level and below.
If pivoting to video succeeded, we would just be seeing people left and right just responding through recordings. Can you imagine how debates would work? It'd just be boring video responses to video responses of what was said, not that it doesn't happen anyways because it already does. But I'm talking if it was the basis of just communicating because the idea of reading and understanding words would be 'too hard' for them to grasp.
It'd just be boring video responses to video responses
Have you seen tiktok?
I wish I hadn't but I know of it since several friends tie their existences to it. But yes, that is ADHD central.
Hey guys, do you think Elon is just stupid and got lucky? I'm just asking the questions.
He is definitively a risk taker. The thing with a risk is that is easy to take if you have money, and if you have a lot of money you can fail many times.
He was born to rich family and had that luxury.
Here's summery of his evandors:
1995 - Founded Zip2 with his brother, got ousted from CEO position in 1996, the company was sold to Compaq in 1999
1999 - he launched his X.com with three founders
2000 - X.com merged with Confinity resulting in PayPal, Musk again was ousted as a CEO on the same year, in 2002 they sold it to eBay (he no longer was in the company but still had stocks)
2002 - He used his money from PayPal to fund SpaceX
2004 - Tesla. This one is interesting, because he is recognized by a lot of people as founder, but he was investor, but they let him to paint himself as Founder
2006 - SolarCity - it didn't do well and was purchased by Tesla in 2016
2015 - co-funded OpenAI, he resigned in 2018 due to conflicts with Tesla AI
2016 - co-funded Neuralink
2016 - The Boring Company - supposed to be working on creating hyperloop, but that idea turned out to be failure, and now any mention of hyperloop was scraped from the company website. He apparently admitted that hyperloop was successful attack to stop California from building high speed rail.
2022 - Twitter
So it looks like largely his biggest successes were Zip2, X.com/PayPal and SpaceX and investment in Tesla. In Zip2 and X.com he was ousted before companies got successful.
SpaceX and Tesla are where he actually succeeded the rest after that he was just throwing money in investments. Technically that's also what happened with Tesla.
I think his smarts are focused on particular kinds of companies and particular kinds of projects, and a large pre-established social media company is very far outside of those usual areas where he's successful.
It's hard to do well with social media when you're a colossal asshole with poor social skills.
As someone who never really used Twitter, I find this to be kinda sad. Everything is shifting to video, and I hate it lol.
Like, what is wrong with reading something? Is it really that hard?
That being said, on the list of stupid ideas Musk has implemented since he bought Twitter this actually seems to be inline with what the rest of the (social media) industry seems to be pushing. TikTok is obviously the first one that comes to mind, but Instagram and Snapchat have been pushing videos for years, too. Even Reddit started promoting a videos over text-based threads - it’s a pain in the ass to get to the comments on a video post with their official app!
I’ll keep my fingers-crossed that lemmy & kbin are able to sustain themselves, because right now its one of the only places where text-based forums are not being pushed off to the side.
Videos are easier to add advertising to
Like, what is wrong with reading something? Is it really that hard?
Half of US adults cannot read a book written at an 8th grade level.
Video is easier and faster for most people, as much as I dislike it. It's a way for a clueless board of MBAs to circumvent the "literacy" problem of more widespread adoption of their service. Lowest-common-denominator corner-shaving ruins everything, as usual.
I want to get out of this simulation, every month there's some rich guy fucking destroys products that aren't even broken. Each month passes another weird shit happens. Damn
Elon feels he can make more money this way most likely.