Twitter is a fast-leaking balloon, losing both users and stock value.
[Morgan Stanley analysts] lowered their price target to $16 a share from $18 and maintained an “Underweight” rating on the stock. The shares fell about 2.7% to $16.80 in premarket trading.
From CNN in February:
The social media company reported Wednesday that it lost 2 million users in the last three months of 2015.
Could it be that users are just sick of being told what’s acceptable speech? And it’s not just to stop abuse (which is rampant), but to censor political speech.
It’s Orwellian “Trust and Safety Council” really does nothing but make the service less trustworthy and less safe for everyone.
The council includes organizations like the Internet Watch Foundation, the Safer Internet Centre, and Feminist Frequency. Here’s where the “Orwellian” part comes in: “speech that doesn’t offend anybody” is the opposite of free expression.
After all, as Biz Stone pointed out, some tweets “downright anger a vast majority of users,” and that’s life. “[W]e keep the information flowing irrespective of any view we may have about the content.” It’s also worth noting that while many organizations on Twitter’s list have a progressive bent, I couldn’t find one with a conservative or libertarian bent. (I can recommend, off the top of my head, the Cato Institute, FIRE, and the Becket Fund.)
I’m no fan of Milo Yiannopoulos, the fabulous Trump-loving (he calls Trump “daddy”) pundit called @Nero. But Twitter decided to strip him of his “verified” user status, as if he suddenly ceased to exist as a popular and real user. It’s petty and stupid. Twitter banned Robert Stacy McCain, but they continue to allow @realDonaldTrump and Ann Coulter to spew whatever they want.
And so Twitter decided to rebound by tapping into the red-blood of American sports: the NFL. Normally level-headed businessman Jack Dorsey spent $15 million for the rights to live stream the NFL’s Thursday night games. Let’s get this straight: Twitter paid the NFL for the right to stream what everyone gets to tweet for free when they watch the game at home.
[Did they] even ask “…if it’s such a terrific opportunity, why did Facebook Inc, pull its bid last week? Why did Verizon Communications Inc. and Amazon.com, Inc. — Amazon, for crying out loud! — let themselves be outbid?? InvestorPlace is right to question whether the lack of engaging content the real issue with Twitter, or whether it will have any better luck than Yahoo.
Yahoo didn’t renew their NFL deal from last year.
It’s interesting to note that Trump’s primary communication method is by Twitter. He’s got nearly 7.5 million followers–but 1.6 million of them are fake.
Of the rest, a large number of them are new, low-follower, echo chambers that just tweet random praises for their idol and insults for everyone else. And Trump retweets their garbage.
It will be interesting to see who tanks faster: Trump or Twitter. My guess is Trump, but he won’t be able to make Twitter great again on his way out.