You fucked up real good, kiddo.
Twitter is a disaster clown car company that is successful despite itself, and there is no possible way to grow users and revenue without making a series of enormous compromises that will ultimately destroy your reputation and possibly cause grievous damage to your other companies.[…]
The essential truth of every social network is that the product is content moderation, and everyone hates the people who decide how content moderation works. Content moderation is what Twitter makes — it is the thing that defines the user experience. It’s what YouTube makes, it’s what Instagram makes, it’s what TikTok makes. They all try to incentivize good stuff, disincentivize bad stuff, and delete the really bad stuff. Do you know why YouTube videos are all eight to 10 minutes long? Because that’s how long a video has to be to qualify for a second ad slot in the middle. That’s content moderation, baby — YouTube wants a certain kind of video, and it created incentives to get it. That’s the business you’re in now. The longer you fight it or pretend that you can sell something else, the more Twitter will drag you into the deepest possible muck of defending indefensible speech. And if you turn on a dime and accept that growth requires aggressive content moderation and pushing back against government speech regulations around the country and world, well, we’ll see how your fans react to that.
Although I am not sure Elon is the savior for Twitter as many expect, I think Twitter being bought out was inevitable.
They have been bleeding money for a while: https://finance.yahoo.com/quote/TWTR/financials?p=TWTR . Last two years were especially bad, but even though they had periods of positive income, it was probably a fluke.
Personally, I have seen Twitter as a modern essential utility. It brings more people together compared to landline, or even maybe GSM phone service. It is also driving a lot of IoT devices, and other niche uses as a messaging platform. Basically it offers a good value for the world. (again, with all the bad content).
Anyway, they never were able to monetize this value. They tried selling thru tweets (old American Express experiments), they tried advertising (not enough), they tried selling premium features.
Compare that to LinkedIn, which is essentially printing money: https://www.statista.com/statistics/976194/annual-revenue-of-linkedin/#:~:text=In%20the%20fiscal%20year%202022,during%20the%202020%20fiscal%20period.
LinkedIn also provides a very valuable service. But it is highly moderated, or rather self moderated, hence users actually like the time and money spent on that platform.
That being said, I was expecting a larger company to purchase twitter, not a single investor. I am not sure Elon would be able to steer the ship around, especially if the early attitude is any indication.
But I would be actually glad if twitter thrives.