Every time Twitter is at a new low I send an email to Chris Sacca, one of its first investors. It’s petty but fun and I think they’ll be enjoyable to read when I finally sue Twitter.
Sacca, though a shitlib, is an interesting guy. He went massively in debt after the 2000 bubble popped in the last tech bubble and it’s hard to see how he’s still a billionaire in light of a recent turn of events but he keeps the Silicon Valley
scheme dream alive.
Last week I had to send two emails to Sacca to gloat and that was before Twitter took the ill advised step of “de-verifying” gay gadfly and journalist (yeah, I said it!) Milo Yiannopoulos. Twitter is trading under $20 a share. It’ll be under $10 a share by June. (If anyone wants to bet me on this, please email me at email@example.com.)
The memo I co-wrote to top short sellers about the coming crack up on Twitter was sent in June and I’m right on schedule. Thanks for the feedback, Wall Street friends! In fact, my analysis of why Twitter will never again be a growth stock is partly why Twitter’s overreaching right now. It’s easy to blame the trolls, the 10,000 characters, or Jack’s
bisexuality running two companies but it’s the business model.
Twitter’s basic problem is that the interests of the user base, the company, and the advertisers are all misaligned and hostile to one another. There was a similar problem with Reddit and we saw how that turned out for Ellen Pao. (You’re welcome!)
As the advertising bubble collapses across all industries and as we go into another recession, all of the social media platforms will start to collapse. Those that are least able to segment their user base (and be useful to advertisers) will be punished hardest. Even Facebook will begin to suffer (though not as much because it’s real innovation per Peter Thiel is ‘real identity’ and therefore the ability to target users.)
Facebook has the Twitter problem, too, because it needs new audiences to keep growing to justify its valuation. The problem is that by beginning to police speech in Germany and elsewhere they’ll make users start to realize that Facebook isn’t free. The willingness to use the platform will decline accordingly and users will begin to self-censor and the platform will die.
(I was banned from Facebook for a week because I said the following joke: “In the multicultural melting pot Muslims are that explosive new ingredient.” GotNews.com had its entire Facebook page deleted for publishing an article about a State Department official who works on refugees and his use of Ashley Madison.)
Let’s not kid ourselves and pretend that Twitter cares about journalism. I was suspended for naming Jackie Coakley, the woman who lied about the UVA rape; for naming the nurse who had ebola 10 hours before everyone else did, and for publishing the addresses of two New York Times journalists who doxxed Darren Wilson. I was permanently suspended for daring to raise money to criticize Jack’s
boyfriend inspiration, Deray McKesson. They also shut down any account ever affiliated with me including some of my business associates. All told, it cost me about $25K a month.
How dare I be so smart as to use Twitter to become a national celebrity without Twitter’s permission. Naughty, naughty, naughty! (FYI: It’s been pretty useful to help me raise money for my next venture. More on that later).
While angel investor Jason Calacanis thinks he’s solved this problem by having people to be verified this idea is silly. What do you do when there are multiple names, Jason? And what do you do when people pay to be verified as other people? And what even is verification and identity anyways? And if people begin paying for Twitter that’ll slow its user base growth, which will in turn, affect its valuation. If you’re a publicly traded company it ain’t going to work. Everything that Twitter can do to make their users’ happier will lead to slower user growth and kill their company.
Jason doesn’t seem to really understand how the algorithm behind Twitter — it’s about the page views, not the likes/favorites or retweets, darling!– or the strategy about how Twitter grew in the first place (by getting insecure celebrities and journalists to come on the site).
This, of course, brings me to Milo and my conversation from this past summer.
You can watch that chat here. Offline I warned Milo that he would be next but he dismissed my warnings. I’m more likeable than you are, he said. Maybe but I have spies in Twitter and they say you’re fucked, says I. No, said he. I’ll be fine. Oh really? says I now.
As Twitter becomes less and less likely to make money expect the SJWs to become more and more thuggish because they can get away with it. The good talent will leave the company and the hacks will stay back and censor.
Peter Thiel was right about them smoking pot but apparently they like chronic more.
I like Milo Yiannopoulos though he’s kidding himself that his brand of devil may care gay uncle conservative commentary will protect him. It’s easy to go after fat feminists. Try going after Black Lives Matter and watch them come for you.
Milo should man up and get banned. You should too.