avatar

Some people can't believe the value of Twitter

You may know that I'm a big fan and advocate of Twitter and the microsharing concept. Because I follow what's said about the product, this morning I spotted that over on Nerd World, a Time/CNN blog, Lev Grossman can't believe Twitter is winning:
"Why is this still going on? When will market forces and/or cosmic justice weed this useless attention-suck out of the technological gene pool? That's what recessions are for. "

Lev just hasn't been shown the value yet and so he's completely missed the point. There are plenty of people, particularly in business, who just don't get it yet. Similar negative commentary has been given in the past about blogging, or even the telephone when you go back to its early use in business. The real people to listen to are the innovators and leaders - I'll give you two examples. On Twitter I follow @jobsworth - that's JP Rangaswami of the Confused of Calcutta blog, and one of the most respected CIOs in the UK. A few days before Christmas (8:39 AM Dec 21st, 2008) he tweeted:
" a newspaper. a bulletin board. a club. an "adda". a telephone network. Twitter."

Now I have to admit that I didn't understand the term Adda, so I had to go check Wikipedia and find that:
"An adda is a form of intellectual exchange among members of the same socio-economic strata"

In a later twitter exchange he explained adda is the key reason he blogs. So now I see that JP has produced a concise definition, in less than 80 characters, of exactly what Twitter is in terms of the value it can bring you. For me the combination of club and adda is the most powerful aspect. Over the last year I've had one very particular, personal example of how much my community can help me, as well as dozens and dozens of cool ideas and products that I could follow up on. Here's the other expert - Laura Fitton blogged the same concept almost exactly a year ago explaining "Twitter is my Village" and how it can shift from being "idiotic to amazing".

The other amazing thing is the "other" potential value of Twitter. Last November various people picked up on Kara Swisher reporting the meeting between top execs at both Facebook and Twitter. Apparently, negotiations foundered over disagreements on valuation of the share exchange proposed - but the sums involved were reportedly around $500,000,000. That's not bad for a company with no revenues, and no published or proposed monetization plan. Half a billion dollars sounds like quite a return for the founders and investors.

And all of the above is exactly why Twitter style, microsharing functionality is now part of the product roadmap for WordFrame, and why quite a number of enterprise 2.0 products will be doing the same thing during 2009.

Technorati tags: , , , , , ,