I think Twitter’s going to go where the experiments tell them to. Some things will work, some things won’t. Sounds like they’re taking a lot of concepts from a lot of different platforms. They’re going to spend way more time on your platform, which is going to make it more popular and help Elon generate some of his investment back. All right. So we are going to talk about how Twitter is doubling down on creators, and we’ll jump into it.
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Yeah, I think Twitter’s going to go where the experiments tell them to. So, they’re running a lot of tests. It sounds like they’re taking a lot of concepts from a lot of different platforms, ex Patreon and start leveraging some of the other financial models, see if you can end up monetizing, better for creators because if you can monetize better for creators and give them incentives, what are they going to do? They’re going to spend way more time on your platform, which is going to make it more popular and help Elon generate some of his investment back.
Yeah, I look at Twitter as they’re just going to run a ton of experiments. It’s going to be a whole bag of tricks. They’re going to whip him out and they’re going to see which ones work and which ones don’t. And I think that’s smart, not because it’s Elon, of course. He’s done really well in life, but in business a lot of times none of us know the right answers. If you want to copy someone else, that’s fine, but if you really want to do well, you got to be willing to test and experiment and try new things and be open to failing. Some things will work, some things won’t.
And what I think he’s trying to make Twitter, he did mention this in the past is end all, be all platform. Was it WeChat or WePay or something like that where you can do transactions and you can do everything on Twitter? I don’t know if it’ll go down to that path, but what I do think he’ll end up doing is figuring out how to make it more of a community. Before Elon, Twitter was just a place where you release some tweets. Every once in a while you can do some videos that you push up, but it’s more so a place to get information and converse with others.
I think they still have that, but what they’re also adding in is all the other aspects that make social communities popular so that way they can get a bigger slice of the market.
And so he might seem immature on Twitter at times but at the end of the day, the guy’s a great product guy and he will try to do what he can to make Twitter a place where people want to hang out more. Their creator incentives right now are really good where if Neil creates like a subscription or I create a subscription they’re not going to take any money for a while too. So that’s pretty incentivizing.
One thing to keep in mind is if you haven’t seen the BBC interview of Elon, you should check it out. He talks to the BBC interviewer about misinformation. The BBC interview says like, “Oh, there’s a lot more hate on Twitter. And Elon asked him for examples and the guy couldn’t produce examples. And Elon’s like, “Yeah, you’re lying.” And most people took that as like, “Oh, Elon just burn the BBC guy.” I didn’t look at it that way. And sure you there’s also that viewpoint about, I took at it as Elon was genuinely curious on what was the hate speech because I believed when I was listening to it he was like, “Oh, cool what is it? I want to know so I can try to solve it?”
And the second point is, Mark Cuban recently tweeted out saying that his reach isn’t as good or he’s not getting as many likes or retweets or whatever you want to end up calling it. And Elon also stated somewhere, I forgot where I read this, where like, “Yeah, the reach also isn’t as good, digging into it and trying to figure out why.” He’s actually taking the criticism that people are giving to try to improve the platform. If someone said, “Hey, there’s a ton of hate speech” and you can show him and it’s factual, it’s not opinionated I believe he would actually try to solve it.
I think that’s very unique with a lot of these social platforms. Most of them just try to do what is producing the most income. Yes, he is trying to monetize and figure out how to make more money from the platform other than just ads. But what’s interesting is he’s also a creator himself and a brand.
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