Twitter reports that after a year of slashing expenses and putting itself in a position to sell data to other companies, it’s expected to be profitable. What’s surprising (considering how #huge Twitter is) is that this the first time that it will be profitable based on “generally accepted accounting principles” – #GAAP!.
In the 11 years since Twitter took to the field, it has never once met this standard, operating at a loss of nearly 2.5 billion dollars since its inception.
Twitter has struggled of a number of reasons, but particularly after going public in 2013 it suffered declining user growth, the rise of the #twittertrolls (coincidentally, Troll’s are discussed in my favorite TIME piece about the internet – located here), and competition from Facebook for the tough realm of advertising.
Since 2013, shares fell steadily, but things have increased thanks to some optimistic changes – the promise to crack down on harassment and abuse, a feed arranged by algorithm instead of time, and Twitter’s most vocal fan of late, President Donald Trump.
For the numbers fans, Reuters provides some input: Twitter’s loss narrowed to about 21 million down from 103 million this year. They have worked to cut a great deal of expenses -16 percent across the board broadly impacting sales, marketing, and R&D.
This kind of focused core improvement (can) help tip the balance sheet on the expenses side – but generating revenues remains a challenge due to slow growth. Twitter hopes to relieve this by working out some deals to sell data – the currency of the 21st century.
Several months ago, TechCrunch made perhaps the most important observation – that despite the fact Twitter has changed the world, changed our marketing, and empowered us to connect with other people, it has remained unprofitable. Many small and large businesses profit from Twitter, but in these 11 years the company hasn’t #sharedinthewealth.
Twitter is touching every realm of business and for American’s, is touching every aspect of their lives given its new form as the preferred medium of the political sphere. Given that, they have much to do to change.
Facebook commands an audience five times the size of Twitter – and their ability to reach success for the future seems #questionable. And how Twitter’s success changes the scape of influence, outreach, and entrepreneurship is something else to be seen.
Zillow launches real estate brokerage after eons of swearing they wouldn’t
(MEDIA) We’ve warned of this for years, the industry funded it, and Zillow Homes brokerage has launched, and there are serious questions at hand.
Zillow Homes was announced today, a Zillow licensed brokerage that will be fully operational in 2021 in Phoenix, Tucson, and Atlanta.
Whoa, big huge yawn-inducing shocker, y’all.
We’ve been warning for more than a decade that this was the end game, and the company blackballed us for our screams (and other criticisms, despite praise when merited here and there).
Blog posts were penned in fiery effigy calling naysayers like us stupid and paranoid.
Well color me unsurprised that the clarity of the gameplan was clear as day all along over here, and the paid talking heads sent out to astroturf, gaslight, and threaten us are now all quiet.
We watched The Social Dilemma – here are some social media tips that stuck with us
(SOCIAL MEDIA) Here are some takeaways from watching Netflix’s The Social Dilemma that helped me to eliminate some social media burnout.
Last weekend, I made the risky decision to watch The Social Dilemma on Netflix. I knew it was an important thing to watch, but the risk was that I also knew it would wig me out a bit. As much as I’m someone who is active “online,” the concept of social media overwhelms me almost more than it entertains (or enlightens) me.
The constant sharing of information, the accessibility to information, and the endless barrage of notifications are just a few of the ways social media can cause overwhelm. The documentary went in deeper than this surface-level content and got into the nitty gritty of how people behind the scenes use your data and track your usage.
Former employees of high-profile platforms like Facebook, Twitter, Instagram, Google, and Pinterest gave their two cents on the dangers of social media from a technological standpoint. Basically, our data isn’t just being tracked to be passed along for newsletters and the like. But rather, humans are seen as products that are manipulated to buy and click all day every day in order to make others money and perpetuate information that has astronomical effects. (I’m not nearly as intelligent as these people, so watch the documentary to get the in-depth look at how all of this operates.)
One of the major elements that stuck with me was the end credits of The Social Dilemma where they asked interviewees about the ways they are working to eliminate social media overwhelm in their own lives. Some of these I’ve implemented myself and can attest to. Here’s a short list of things you can do to keep from burning out online.
- Turn off notifications – unless there are things you need to know about immediately (texts, emails, etc.) turn it off. Getting 100 individual notifications within an hour from those who liked your Instagram post will do nothing but burn you (and your battery) out.
- Know how to use these technologies to change the conversation and not perpetuate things like “fake news” and clickbait.
- Uninstall apps that are wasting your time. If you feel yourself wasting hours per week mindlessly scrolling through Facebook but not actually using it, consider deleting the app and only checking the site from a desktop or Internet browser.
- Research and consider using other search tools instead of Google (one interviewee mentioned that Qwant specifically does not collect/store your information the way Google does).
- Don’t perpetuate by watching recommended videos on YouTube, those are tailored to try and sway or sell you things. Pick your own content.
- Research the many extensions that remove these recommendations and help stop the collection of your data.
At the end of the day, just be mindful of how you’re using social media and what you’re sharing – not just about yourself, but the information you’re passing along from and to others. Do your part to make sure what you are sharing is accurate and useful in this conversation.
WeChat ban blocked by California judge, but for how long?
(SOCIAL MEDIA) WeChat is protected by First Amendment concerns for now, but it’s unclear how long the app will remain as pressure mounts.
WeChat barely avoided a US ban after a Californian judge stepped in to temporarily block President Trump’s executive order. Judge Laurel Beeler cited the effects of the ban on US-based WeChat users and how it threatened the First Amendment rights of those users.
“The plaintiffs’ evidence reflects that WeChat is effectively the only means of communication for many in the community, not only because China bans other apps, but also because Chinese speakers with limited English proficiency have no options other than WeChat,” Beeler wrote.
WeChat is a Chinese instant messaging and social media/mobile transaction app with over 1 billion active monthly users. The WeChat Alliance, a group of users who filed the lawsuit in August, pointed out that the ban unfairly targets Chinese-Americans as it’s the primary app used by the demographic to communicate with loved ones, engage in political discussions, and receive news.
The app, along with TikTok, has come under fire as a means for China to collect data on its users. U.S. Department of Commerce Secretary Wilbur Ross has stated, “At the President’s direction, we have taken significant action to combat China’s malicious collection of American citizens’ personal data, while promoting our national values, democratic rules-based norms, and aggressive enforcement of U.S. laws and regulations.”
This example is yet another symptom of our ever-globalizing society where we are learning to navigate between connectivity and privacy. The plaintiffs also pointed out alternatives to an outright ban. One example cited was in Australia, where WeChat is now banned from government officials’ phones but not others.
Beeler has said that the range in alternatives to preserving national security affected her decision to strike down the ban. She also explained that in regards to dealing with national security, there is “scant little evidence that (the Commerce Department’s) effective ban of WeChat for all US users addresses those concerns.”
Business Marketing5 hours ago
Use the ‘Blemish Effect’ to skyrocket your sales
Opinion Editorials2 weeks ago
The actual reasons people choose to work at startups
Tech News5 hours ago
Degree holders are shifting tech hubs and affordability
Business Finance1 week ago
Small business owners furious over more PPP fraud this week
Business News1 week ago
Hobby Lobby increases minimum wage, but how much is just to save face?
Opinion Editorials2 weeks ago
How a simple period in your text message might be misinterpreted: Tips to improve your virtual communication
Opinion Editorials2 weeks ago
How Peloton has developed a cult-following
Social Media2 weeks ago
Instagram makes IGTV videos more accessible with automatic closed captions