I’m old enough to remember news before and after the internet.
Look, it wasn’t great before. Everything the public learned was filtered through a specific, flawed point of view.
But you’d have to be an idiot to think move to FB news has been positive overall to democracy.
2/ The positives are sub communities have been able to create well-informed, specialty niches. Mainstream press didn’t understand tech, queer culture, videogames or even EDM. We have excellent news on all those subjects now.
3/ But the negatives, to my mind, far outstrip them.
The human mind is simply wired to click news we already agree with. We’re overdosing on trash, confirmation bias and disinformation.
Consensus is all but impossible.
4/ Elno’s vision of Twitter as “open sourcing the news” isn’t wholly without merit. I remain convinced #ferguson never would’ve been a story without Twitter.
But, anyone who can’t see the other side of that equation is not living in reality.
5/ The death of fact checking, editorial standards or the public asking ourselves if a source is credible could very well be the end of this country.
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In addition to massive infrastructure costs to run the site, Twitter has between $1 billion to $1.7 billion IN INTEREST ALONE to pay every year or the site is owned by the banks.
How can Elno keep it going, much less build any new features?
2/ Additionally, I would posit that there’s a massive difference in running a massive site like Twitter with a legacy codebase and being a startup where you can run it with a small team.
Musk seems like he’s bringing the startup mentality to running this place.
3/ To my mind, this is the most likely future of Twitter.
It’s going to degrade. It will be slower. Mass hacks will happen.
All the while, Musk will offer grand visions of the Twitter 2.0 that’s just around the corner! None of it will ever ship.
Elno had to testify in a trial today about his allegedly excessive compensation at Tesla.
He said a lot of crazy stuff we need to go over. It spooked the market, and Tesla is trending towards the toilet again.
2/ Musk is being sued because a Tesla shareholder claims his CEO compensation was extremely excessive and that the approval by the Tesla board amounted to a breach of its fiduciary duty.
That pay is what made him the richest man on earth, BTW.
3/ Plaintiffs brought up Musk’s public war with the SEC (a pattern he’s repeating with @SenMarkey, BTW.) Musk tried to walk it back.
If you’ll recall, he lied about having “funding secured” to take Tesla private. The SEC charged him with making false and misleading statements.
1/ I don’t think Elno is trying to bankrupt Twitter.
I do think with his previous companies, X.com, SpaceX and ESPECIALLY Tesla, he’s flown right to the edge of bankruptcy and ethics, and no one has ever held him to consequences.
2/ With the original Tesla Roadster, Elno had sold models of it already. Customers were waiting for delivery.
But they couldn’t make it work. Tesla was burning cash at such a crazy rate, investors demanded and got an audit. The situation was more than Elno had admitted.
3/ Long story short, the original roadster only shipped because a new part came out that overcame a critical technical problem. And it was still a massive financial failure.
The profits from it were supposed to pay for the next model. Instead, they nearly went bankrupt.
The latest horror at Twitter is Elno is demanding everyone who is criticizing him be fired. This is not just the people standing up to him publicly on Twitter, it’s also people criticizing him internally on Slack.
3/ It is inevitable that Twitter is going to technically crash.
Musk has fired the people who understand the infrastructure, is firing people who question him and he’s certainly not going to pay for a massive refactor projects.