It has been splashed all over the news that Twitter faces crisis, as its stock has plummeted and it’s publicly up for sale. Google and Apple have reportedly already passed on buying the embattled social network, while Salesforce is rumored to be considering pulling the trigger on a purchase.
As the sale hangs in the balance, and large layoffs loom, morale is dropping among Twitter’s ranks. Jack Dorsey, the CEO, will likely be fired, and the new company will have to figure out how to monetize the extremely popular website.
Twitter has faced a storm of troubles in recent years, including lackluster growth, and an overall identity crisis. The social media network is popular, but even the folks at Twitter haven’t exactly figured out what their purpose is in a newly expanding digital world.
Twitter’s lack of direction was made clear when it lost half a billion dollars in 2015 and unsuccessfully attempted to emulate other social networks’ winning strategies. Eventually, they ditched those efforts and have yet to figure out how to make their business model work sustainably.
Amidst Twitter’s epic fall from grace, some are proclaiming that the social wars are over, and it’s time to coronate Facebook as the undisputed king of social media.
Back in 2012, no one would anticipate this for Twitter. It has millions of users and three times as much tweets a day. It also has become a platform where famous people such as celebrities and athletes converse with their fans. In fact, it has brought more interaction for people from different walks of life. Politicians and other world leaders also have their own Twitter accounts. Now, the future may be bleak for the once dominant social networking site.
Twitter isn’t growing fast enough, it doesn’t make enough money, and it is overrun by trolls, morons, and bullies. And those are the big problems. But the fact no one seems to want one of the world’s most influential social platforms says something about how the landscape has changed.
Welcome to the age of Facebook
Who will buy Twitter and how the site will evolve to placate investors’ concerns over monetization remains to be seen. What is much more certain is that Facebook has won the social wars, especially since the social media giant also owns Instagram. While Snapchat is definitely gaining footing among today’s youth, it appears that Facebook’s dominance in world of social media has been galvanized for the foreseeable future.
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January 30, 2021 at 7:18 pm
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