Inside Twitter
In the new issue of Fortune, senior writer Adam Lashinsky takes an in-depth look at the hottest new Web startup, Twitter. Like many of the most popular Internet sites – think Facebook or MySpace - Twitter has yet to figure out a way to actually make money. Tell us what you think: Do you use Twitter? Is it the next Facebook? And how do you think it can one day turn a profit? Post a comment below and join the reader discussion.
I’m using Jott.com and Twitter together. I’ll Twitter by voice input from Jott.com, letting my students know when new material or announcements are posted on Blackboard for them.
Do you think they’ll appreciate it?
What’s the big hub-bub all over Twitter? People have been able to chat like this for, oh, I don’t know, 15-20 years.
Twitter just renamed online chat “microblogging,” that’s all.
Twitter is just like AOL Instant Messenger without a download, and minus all that uncool Web 1.0 baggage of a name like “AOL.”
Oh yeah, and you don’t have to be online to get Twitter IMs. That’s the big step forward…
I am an avid user of Twitter and enjoy the professional and personal aspects of it. I have often wondered how they would monetize it, and if monetization would drive away avid fans. As we watch other social apps go through going pains (LinkedIn, Facebook) I only hope that Twitter does not lose its groove when it figures out how to make money.
Adam, the tone here is a little too smug.
First. I am past 25, use Twitter aggressively, follow an almost-exclusively over-25 group and am followed by an over-25 group. The latter are folks I have met through business and business development. And I’ll bet within the next year, you’ll have non-Valley types saying the same thing. In appropriate situations, I’m counseling clients to watch Twitter closely.
Second. Twitter investors took a shrewd risk with this startup. This tool has all the potential of replacing corporate intranets. It also is a terrific adjunct to blogging and — guess what — press coverage. If I represented advertisers, I’d be all over Twitter’s founders to come up with a model. The targeting possibilities are incredible. The fact that investors are endowing Twitter, which is using the beta period as betas should be used, is no sign of Valley bloat. Perhaps if investors were deploying three times what they have there’d be cause for comment, but this investment level is appropriate.
Third. you and I came to Silicon Valley at the same time. I remember thinking what nerve Jeff Bezos had laughing when people asked him when he was going to make money. I don’t have those thoughts any longer. I worry about waste and arrogance only when someone is not guarding the investment or not coaching young founders to grow into exec positions. I suggest that FORTUNE shine a spotlight into those situations in which investments are thrown at founders who burn cash on silly PR tricks and narcissistic pursuits cloaked as company positioning. Or into newly public tech companies that choose to ignore they are public. Now that would be an interesting article.
Thanks.
Only in California can you have a company like Twitter with no revenue model and a 30 something CEO with very little business sense raise 22M in funding. Build it, give it away for FREE and then figure out how to make money later is the mantra. I can not believe that he said “experimenting” with 22M of investor funding. Wow! This is coming from someone that knows a thing or two about raising money. Hats off to him for having a dream, but, he needs to think before making comments like that.
Twitter can be best seen as a new sort of Skype. Microblogging/microsharing – like VOIP – is here to stay. Twitter has the network. This will turn into a household brand.
Don’t know if Twitter is the next Facebook or YouTube or even Google and don’t really care. In the past few months I’ve “met” dozens of foodies and newsies and moms and connected with many consumers directly, hearing the good and the bad and being agile in responding to it–that’s an evolution print types like me should welcome. And I do, because amid some vacuous stuff, there are glittering gems of information. I’m in.
twitter.com/everydayfooddeb
I was a little skeptical at first as well… I mean, what kind of information can you actually convey in less than 140 characters?
But, I too am now addicted to it.
I use it for all sorts of different purposes. I use twitter for both my personal and work related tasks. One minute, I’ll “Tweet” about my kids, a night out with my friends, observations about society. The next, I’ll add a blog post for my job or use it to gauge the pulse of my industry.
So, individually, there’s not much you can do with 140 characters. But, as a whole, it’s a completely new perspective on communication
In 1999, web 1.0 companies were solely focusing on “number of eyeballs” assuming, more the people who are on their sites, the better. Web 2.0 companies, 9 years later, are no different. All these companies sell no useful services, are just a place for people to hang around and they expect to get a pie off the ad revenues. They will fail as grandly as their first generation cousins did.
Twitter is a great concept that allows people ‘Free Texting’ basically.
It’s just a shame that many of the big ‘GURU’s’ have jumped in with both feet and tried to take it on as another of their ‘Product Subjects’. This has led to so much spamming that it’s now uncomfortable sorting the rubbish from the interesting.
All these new reports on how to ‘monetize’ Twitter is just making it worse. They attacked Facebook, MySpace etc in the same way which has made the whole experience ‘tiresome’ instead of enjoyable.
Why can’t these ‘Money-suckers’ leave good platforms alone?
Joel Comm recently posted on Twitter with regard to ‘monetizing’ it. “Let me at it”.
God forbid that they do. I respect Joel, he offers a lot to the IM market, but sometimes, concepts are about MORE than just money.
Pete.
Agree with Paul: signed up for LinkedIn and MySpace, but have never used either. I think there must a lot of inactive users in all of these efforts.
Working avidly on the net I found I was too busy to log in to other social networks and find twitter easy to keep open, keep up with and a small *break* from work that can also be beneficial TO my work. I love it, it is my very fav of all the ones I have tried.
twitter me as jantd
When it works, it really is a great way of staying in touch. In textbites!
Twitter is better than email and Facebook. Easier, quicker, and more succinct. I use it for microblogging, questions and observations. <140!
I love the micro-blogging concept of Twitter, but there’s a fundamental problem here:
Facebook does almost the exact same thing. It’s done in the form of status updates, which are displayed beneath the profile owner’s name and they also get pushed into news feeds.
What’s more, Facebook does this while utilizing the network of friends you’ve already built.
This is why it’s more useful. I know maybe half a dozen people on Twitter (and I’m 22, living in Milwaukee, a city roughly the population of Boston). On the other hand, almost every single person I know (and definitely every single close friend I have) is a Facebook user. Why would I post updates to Twitter when I can do the same thing on Facebook to a larger audience? Facebook also has the mobile feature, which lets me post updates from anywhere with a simple text message.
For me, the couple of additional features Twitter has don’t outweigh the integrated network of Facebook.
it’s just a little more info clutter than i need to have… but in today’s world, that is actually seen as a good thing… it won’t be facebook, but i see it as the next step for im/email interaction… can’t wait to see if they ever monetize it…
Twitter serves a different purpose than Facebook or MySpace. You meet different people. You learn more. It’s an easy to use networking and educational tool. It’s all about who you follow.
twitter.com/kcampbell
Nice novelty, but no income. 3 million users? It’s more like 3 million user “IDs”, where the vast majority sign up for curiosity, and then never touch it again – just like I did with LinkedIn and Facebook and MySpace. It’s just another place where the “me and my friends” crowd can hang out, until they find a new place.
A fundamental question: What does Twitter (or Facebook or MySpace) offer me? Nothing! Match.com at least gets me something that I need or want. Other sites offer connections based on common interests. Still others offer products that I need or want. What does Twitter offer me? Tell me about the product or service!!!!
THERE ISN’T ONE! That’s why they don’t make any money! Well, not exactly true. The founders are making a ton of money at the expense of dumb investors moving from bad mortgage bets back to bad tech bets. Tech bubble fantasy 2.0?
Twitter is just the next big thing that will be integrated into another bigger thing. Alone, unless they add more features, it cannot exist too long. They must evolve into something more.
Twitter isn’t the next Facebook…
Twitter is the next EMAIL.
It depends on how you define “Facebook.”
Is it currently, and will it continue to be a popular form of social networking? Yes. Twitter will continue to grow.
Is it going to become ubiquitous in the average Facebook user’s daily interaction? Probably not.
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this is awesome! Especially here in the Philippines when people are also “hungry” for texting …now this is definitely a great alternative because now we have an option to actually do it online!