The New York Times $: “New start-ups and other social platforms sense opportunity as Twitter grapples with changes from Elon Musk, its new owner…A race is on to dethrone Twitter and capitalize on the chaos of its new ownership under Elon Musk, the tech mogul who bought the social media company for $44 billion in late October. Since then, questions have swirled about how viable Twitter might be as Mr. Musk has laid off thousands of employees, started changing the platform’s content rules and proclaimed that the company is in such dire financial shape that bankruptcy is possible. Sensing opportunity, all manner of people and companies have jumped in to fill the potential breach. Apart from employees at Meta, former Twitter workers have begun projects for what they say could be the next Twitter. Start-ups like Post and niche services like Mastodon and Hive Social have also reared their heads, as has the microblogging platform Tumblr. Some of these services are presenting themselves as less toxic versions of Twitter, which has reversed suspensions of some users and reinstated previously banned accounts, including that of former President Donald J. Trump. Others are positioning themselves as heralds of a completely new era in social media.
The toxicity that surrounds Twitter and some of the behavior of the new ownership led me to believe there’s an enormous opportunity for a microblogging platform with a different business model,” said Scott Galloway, an investor in Post and a marketing professor at New York University. “There’s a lot of opportunity right now to take from social media platforms, and people sense the opportunity.”
Sorry, comments are closed for this post.