1. When @elonmusk bought #Twitter, many people panicked at the rapid changes he brought.
They panicked because they assumed his intention was to make Twitter a profitable advertising company, like it had aspired to be.
But what if that isn't why he bought it?
2. As of April 2023, Twitter is estimated to have an advertising reach of 372.9 million people.
The value of an advertising company is converting messaging into profits.
Usually that messaging is selling products and services, and those profits are advertising revenues.
3. But consider how valuable that reach can be to the right entrepreneur?
Elon Musk is unquestionably the most prolific entrepreneur of our time. Some of his greatest successes have been companies he did NOT start.
4. Tesla was founded by two engineers, Martin Eberhard & Marc Tarpenning in 03.
Elon's initial participation was as a VC. The founders were barely able to get to prototype.
It was only later that Musk assumed full control & took Tesla beyond its origins to a worldwide success.
5. Elon's greatest talent is his ability to transform vision into inspiration. Consider the role Tesla occupies in the human imagination.
He is a visionary, right or wrong. I'm not sucking his dick, I'm just clarifying his unique skill.
6. Some of Elon's first tasks at Twitter were to eliminate the parts of the company that didn't fit with his vision.
Most people assume his vision was to cut costs, increase revenues, and right the ship. But what if he had a different plan?
7. Consider this scenario, with names removed:
- The richest man in the world
- Owns one of the biggest social networks in the world
- Sees everyone on his platform talking about a certain investment
What would he do?
8. For a wealthy man like Elon Musk, Twitter is far more valuable as a personal megaphone than as an advertising company.
For a man like Elon Musk, the power of leverage is infinitely more compelling than for you or I.
9. $DOGE was a fun social experiment, but only as valuable as the meme itself.
Without Elon's direct intervention, there is absolutely zero chance that it would ever have approached the whopping $88.8 B it reached on May 8, 2021.
10. $PEPE on the other hand is the #1 internet meme of all time. There is a Pepe for literally EVERYTHING.
Every mood. Every situation.
It's universally known and loved, and says so much without having to say anything at all.
11. We live in an attention economy now, where the only currency is virality.
While memecoins don't have a special power on-chain, memes have a prophetic power off-chain.
Memetics represents a sea change in the way humans communicate ideas to each other.
12. Now let's fill the scenario in with actual specifics:
- The richest man in the world
- Owns Twitter
- Has browbeat his engineers into maximizing his personal reach on Twitter
- Sees everyone on his platform talking about $PEPE
13.
- Elon understands memetics and knows Pepe is the #1 meme of all time
- Has already personally pumped $DOGE to insane heights so he could dump on retail
- Is posting Pepes and Miladys on his TL
- Has yet to realize a profit on his Twitter buy
What do you think he will do?
14. I think there's an almost 0% chance that he does NOT make every effort to personally profit from $PEPE, by pumping it beyond anything we've ever seen.
He may not have invented $PEPE, but he didn't invent #Tesla either.
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If you're skeptical about $PEPE - I was too. I faded at first because I didn't get it.
But here are the reasons why I eventually changed my mind. Consider them:
( a 🧵 )
1. Pepe The Frog is the most famous meme in internet history. When people think of memes, Pepe is literally the first thing that comes to mind.
It's a universally understood cultural symbol that transcends borders and languages.
2. We live in an attention economy, where virality is the only thing that matters.
Masses of plebs have completely given up on any hope of ever buying a house or achieving financial freedom through employment. The only hope for many people is speculation.