This story is a follow up to and earlier post, “The Next Social Media Platform for Journalists May Not Be Twitter.”
Twitter’s struggles to stay profitable and on the cutting edge of social media sites are interesting to digital journalism.
Lately, Twitter has been courting buyouts from Google, Disney, and Salesforce. As the social media platform has been around for 10 years, some would argue that its business model and social media angle has not changed enough.
Mary Meeker, general partner at Kleiner, Perkins, Caufield & Byers says, “The one thing I will say is Rome was not built in 140 characters. What I mean by that is turnarounds are really hard.”
Lack of innovation is one of the reasons for Twitter’s bad performance. This is when compared to other platforms like Facebook that offer HD video uploads, according to Chamath Palihapitiya, CEO of Social Capital.
Trolls are another reason, claims Nick Bilton, editor at Vanity Fair. “I would literally focus every single effort I have on solving the trolling problem, because you cannot grow that company, you cannot get people to sign up, you have people leaving,” he says.
Can the 140 character model survive in a world of HD video, freedom of speech, and trolls on the prowl?