Today Twitter goes public. A company that has lost tens of millions of dollars is going public today and I bought the stock because I had to. I am a contrarian by nature and so reading many of the news reports leading up to today means I am almost buying on principle. I fully appreciate that the Facebook IPO was a total train wreck for lots of reasons that have been analyzed to death but I believe that Twitter is different for a lot of reasons in a lot of ways. Social media is still evolving and I think Twitter is going to be a major part of the environment for a long time.
I heard Jack Dorsey (one of the founders) say in an interview that the best technology increases the velocity of communication and the number of people that can participate. Twitter seems to epitomize this. I posted a blog about a VC (Chris Sacca – click here) who would buy up as many Twitter shares as he could because he knew this would be big and believed in what Twitter was doing. The more I have followed Twitter and understood the power behind it the more I believe that not only does it have a good business model but it is doing more than that. It is connecting people in all parts of the world like no one else or anything else we know of.
Maybe I am wrong, Twitter tanks and all the hype was for not. I doubt it but time will tell. I am happy just to have participated.
“We wanted flying cars, instead we got 140 characters.” – Peter Theil
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2 thoughts on “I did it…I had to”
You’re very likely right. I thought that FB was ridiculously overvalued and that they would never be able to monetize the multiple revenue streams needed for the growth to justify the valuation, let alone 70% higher than the IPO.
You should see their actual business https://business.twitter.com/ – it really makes you think about the power behind what they are doing.