They cut ~$1B in operating expenses, to go from $4.73B to $3.31B in advertising revenue, and forecasts don't look much better [0]
What has Twitter left to offer? They don't have the manpower to add new functionality, and they are bleeding advertising money.
[0] https://www.statista.com/statistics/271337/twitters-advertis...
I've never personally believed in Twitter as a business model, so you're preaching to the choir there. As far as innovation, though, Elon has stated he wants X to be the 'everything app' similar to whatever it is they use in China, in particular payments.
Unrelated in the short term. In the long term, I disagree.
Twitter is not that interesting of an app that users are flocking to it, nor it is so fundamentally different from any of its competitors and essential as a social network, that it would have a captive audience.
Twitter user base peaked in 2022. There haven't been any new major features, no concrete plans, but regardless, they have not enough manpower to implement them even if they wanted to.
> As far as innovation, though, Elon has stated he wants X to be the 'everything app' similar to whatever it is they use in China, in particular payments.
Good luck with that. People in the US, and especially the EU, don't like to have their payment apps linked to their social media. It's not like big tech hasn't tried already, e.g. Google Wallet, Facebook Pay, SnapCash, etc.
East Asia runs on a different gear. They have their own "everything apps", e.g. Kakao, Line, WeChat. Musk is not going to convince them to switch, that's for sure, and I highly doubt he would succeed where so many others have failed, definitely not with a withering platform like Twitter.
They're not unrelated. Advertisers like to know that their ads work; you need staff to do that.
Look at how much tailored the FaceBook ads were vs Twitter [1]. Advertisers would be sticking with Twitter if they thought the ads were worth it.
> Facebook targeting allows advertisers to drill down, ensuring your ad is targeted at those most interested in your ads’ content.
> The Facebook ad targeting based on interests looked like this:
> Science > Mari Smith > Joel Comm > Social science > HootSuite > Post Planner > Smart Passive Income with Pat Flynn > Kim Garst > Sprout Social > Social Media Examiner > Buffer
> Twitter’s targeting is not quite as refined, but we targeted these keywords:
> instagrammarketing > socialmediamarketing > socialmediaexaminer
[1]: https://www.agorapulse.com/social-media-lab/twitter-ads-cpc-...
or may be they dont need new functionality. It works fine as it is today.
What twitter needs is revenue sources, and i don't see how they are going to get it.
