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Osaretin Victor Asemota Profile picture
@asemota
Oct 19 • 9 tweets • 2 min read Twitter logo Read on Twitter
Talking about piracy and intellectual property. TikTok is a fascinating place. I looked at what they did to music and it is the opposite of what YouTube and Facebook did. It is now a place to promote your music and make it go viral. It works because of the economics of streaming.
I have been mulling over the effect of communities on content adoption and propagation and I believe that there is more still to unlock. My experiment with a relationship community on Facebook made me see how to tweak engagement levels and know what people like with feedback.
I believe that it is the future of content creation and consumption. I brought the approach of testing and watching the stats to Twitter but decided to learn to be less evil. If Facebook had today's Twitter monetization features 5 years ago, I would have become a Billionaire.
My theory is that if people consume content or access it via online means, paid advertising is less effective than propagating through communities. TikTok takes communities very seriously. They get social. tiktok.com/business/en-US…
TikTok was the first to fully harness the full power of communities on social. Look at the size of gaming on TikiTok? Twitch and others could not have predicted it. Image
What Twitter (or X by force) is inadvertently doing with ad monetization will be to build more communities because people who are rewarded more for a certain type of content that appeals to communities that advertisers like will keep producing it. Youtube style.
All the public square and truth narrative is bullshit. People love their own corners of comfort. The Agbado community and Obidient political communities in Nigeria have finally bifurcated and live in their own worlds. Politics is what makes Twitter hard to monetize.
They need more diverse communities in other interest areas. TikTok is deliberately helping advertisers to build communities, others are just piggybacking on what emerges by chance. There is a difference. I tried explaining this to a few African startups and they never got it
Some of the most successful African consumer-facing startups (in terms of customer numbers) have built communities around their product. The people who won't buy can also sell for you if they are passionate. That is the TikiTok Freemium Community model in music.

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More from @asemota

Osaretin Victor Asemota Profile picture
Oct 20
It is #MekweWeekend and as I promised let's talk about #1 thing the unmarried women in my Nigerian and Ghanaian family ask for the most - A man with sense. When they ask for that, it is not a man with high IQ they mean but a man with low body count and no promiscuity. A unicorn. Image
There are many reasons they want a man with sense. They don't want to start fighting with other people and don't like the chaos that promiscuous and multitasking men cause.

Men on the other hand think that a man who plays by all those rules is a man without sense. A mugu. Image
One thing about most African men that most women don't realize is that their desire to be like other men is much higher than their desire to be liked by women. Why? Because men share all these Casanova myths of conquest with themselves. Image
Read 15 tweets
Osaretin Victor Asemota Profile picture
Oct 19
Billionares concentrate because they are gamblers with loaded dice. The average billionaire has more data on the area of their concentration than anyone else. They know what almost everyone else does not.
Mike Adenuga knows every gas station where he has an interest. His memory is also extraordinary. We had a meeting for less than 30 minutes and he remembered me 10 years later. That is not someone you compete with and win in a space where he is serious.
Each Billionaire deeply knows their space. Being a millionaire can come from luck but becoming a billionaire comes from deep knowledge. This is why data is extremely important if we have any hope of creating African tech billionaires.
Read 9 tweets
Osaretin Victor Asemota Profile picture
Oct 19
The Okomu Oil Palm Company needed to upgrade their mill to one of higher capacity in the early ’90s as the farm had outgrown the old mill and demand for palm oil was very high. They needed to pay for the mill in dollars and took dollar loans while selling palm oil in Naira.
Devaluation happened and they suddenly realized that their loans became bigger than their assets. They were technically insolvent. They had listed on the stock exchange and their stock was selling below par. It was a tough period.
They refinanced the loans in Naira and got a long-term strategic investor who has remained there now for decades. Their stock bounced back and they recovered. Watching that thing unfold for 7 years up close was a lesson. I had a finance and capital markets lesson with a real firm
Read 5 tweets
Osaretin Victor Asemota Profile picture
Oct 15
You quickly understand African economic realities when trying to raise money either as an entrepreneur or investor. One thing I will never forget while trying to raise an African fund was talking to very rich Africans and realizing that most of their returns were outside Africa.
Telling them to bring it back and invest in an asset class they didn't know and in a place without data sounded quite ridiculous. The reason they made money in Africa wasn't because they knew Africa well, it was because they were lucky. One told me lightning won't strike twice.
This is the fundamental flaw of most of our startup investment models. Without local skin in the game, it is not a long-term play. Local funds with foreign LPs who are here for a short time before they bounce are not the solution. Ideally, the best LPs should be local corporates.
Read 10 tweets
Osaretin Victor Asemota Profile picture
Oct 14
Three things happened to me today that put starting businesses in Africa into new perspective.

1. We had to go find a good doctor at a remote location because of a referral. He was expensive not just because he was good be because he was isolated and the place wasn't busy.
2. At the traffic light before the American Embassy in Lome, I found a lady selling grains. She took her business to a place with a lot of traffic and away from competition in the marketplace to increase her chances. If it wasn't working, she wouldn't be there.
3. I went into a very clean supermarket run by Lebanese near the American Embassy and saw how easy it was to buy because the place was organized. Some ladies have also started selling cheaper vegetables for making salads at a stall right beside the supermarket. Location!
Read 14 tweets
Osaretin Victor Asemota Profile picture
Oct 14
This is the best time to write this thread. It is all quiet without Bongo noise.

The longer I live, the more I realize that our collective stupidity as a nation is a cultural problem. Cultures change and evolve. What we keep calling our culture today is in the past and it’s gone
Our true culture is what we do now. It is a culture of selfishness and greed. It is one of bigotry and cowardice. Yes, there are exceptions and you may count yourself as an exception. I also think that I am an exception until I catch myself at it in my subconscious.
We all believe that we have good intentions until we are tested. The quickest response to trials reveals who we truly are. It is very easy to stereotype and blame a particular type of behavior on things that confirm bias. It is also very easy to react and reinforce stereotypes.
Read 12 tweets

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