Posts filed under “Think Tank”
Maybe Twitter’s unfixable.
Maybe it’s a fad like MySpace. Something gee-whiz, brand new, that is succeeded by a platform with more functionality.
Twitter told us we want instant news.
But it never turned into a comprehensible service.
It’s the internet at its worst. A small enterprise where you communicate amongst your circle, with a bit of access to the famous, which morphs into a tsunami of hype that we ultimately ignore.
Twitter is a great place to find out what’s happening right now. To read press releases. But it does a bad job of making the results comprehensible to the masses. It’s Alta Vista, and we’re waiting for Google.
If you think Jack Dorsey can save it, you’re unaware of Square. Another product that got left in the dust. Dorsey didn’t realize that starting is only the beginning. That to win you’ve got to deal with or supersede the entrenched elements, like the banks. Square was the small new thing that turned into the small old thing. And in today’s world that’s death. Furthermore, Dorsey’s image has been shattered by the naysayers. He seems to take too much credit, and based on Square’s results the rumors seem true.
So what to do?
Credit Chris Sacca for criticizing the company. This is something we rarely see at established businesses, a ground floor investor questioning management and direction. Everybody at the old company drinks the kool-aid, lines up behind the boss and marches towards the cliff. And then they’re surprised when someone steals their cheese, like in the music business.
Twitter is a feature, not a standalone service. Snapchat moves into entertainment and Twitter can’t even make its existing service usable. Twitter should be part of a search engine. Or should include other features. Maybe it’s less about having everybody tweet than categorizing info to make it accessible. We don’t care what the nobody has to say, and right now it’s only the vocal nobodies tweeting away. Along with the brands, both corporations and people, who want to keep us informed of their efforts and whereabouts. But this self-promotion seems phony and ultimately rings hollow.
So what we’ve learned once again is the internet eats companies. What is on everybody’s lips, clicked on today, is left on the scrapheap tomorrow. Remember when we all live-tweeted TV shows? That’s akin to remembering the Macarena, or the Hula Hoop. It’s already nostalgia.
But how come every fad is seen as lasting?
Maybe it’s our short term economy.
Maybe it’s media that needs something to trumpet.
The failure is certainly not the public. The public leads on the internet. And the public kicked the tires on Twitter and then abandoned it. Leaving it to those addicted to testify just like they did about Google Glass and now the Apple Watch. The sideshow becomes the main show, but only for a little while.
We want information.
We want to connect.
Twitter was a start.
It certainly won’t be the end.
We find little evidence that changes in labor costs have had a material effect on price inflation in recent years, even for compensation measures where some degree of passthrough to prices still appears to be present. Our results cast doubt on explanations of recent inflation behavior that appeal to such mechanisms as downward nominal wage…Read More
Category: Think Tank
This must be the “new normal” everyone’s talking about. Where a cyclical low in the unemployment rate, to the the low 5 percent range, is met with a courtly high stock market and talks of an impending rise in rates. Sure there is a feeling in some pockets of the economy that “things” are much…Read More
Crisis Chronicles: Railway Mania, the Hungry Forties, and the Commercial Crisis of 1847 James Narron and Don Morgan Liberty Street Economics, JUNE 05, 2015 Money was plentiful in the United Kingdom in 1842, and with low yields on government bonds and railway shares paying handsome dividends, the desire to speculate spread—as one observer put it,…Read More
Category: Think Tank
From Wikipedia: “ Behavior finance theory attributes stock market bubbles to cognitive biases that lead to groupthink and herd behavior. Bubbles occur not only in real-world markets, with their inherent uncertainty and noise, but also in highly predictable experimental markets.” “A stock market bubble is a type of economic bubble taking place in stock markets…Read More
Category: Think Tank