Billionaire investor Chris Sacca’s long and thoughtful post on “What Twitter Can Be,” created a small tsunami of sorts in the tech world like this exchange between Sacca and Fred Wilson, a New York-based venture capitalist. Both Sacca and Wilson own quite a lot of Twitter stoks. And Sacca spoke to CNBC about his post and the suggestions he made that included Google buying Twitter.
Sacca does not sit on the board of San Francisco-based Twitter. He clarifies right at the start of his 8,000 odd words long post that he he is not speaking for Twitter and neither does he have inside information on the company.
In the post he highlights the strengths and weaknesses of Twitter and stressed that the company needs to be bolder. And then he offers suggestions on how Twitter can grow and improve its offerings.
Sacca lists 6 points on what is going well in Twitter. Here are two points on what is going well that jumped out for me – “Revenue is growing at 74% year over year,” and the company is taking “risk in making changes to the core product.”
He makes 5 points on what is not going well in Twitter and one of them was “Almost one billion users have tried Twitter and not stuck around.” Now, that kind of number will make anyone sit up and notice. He adds Twitter is hard to use, scary and lonely for most users.
“Twitter does have boldness in its bones,” he writes and then goes on to offer in-depth suggestions on how Twitter can improve and make it less lonely and scary to use for millions of users that are not using it. He offered quite a few suggestions on how to improve the organization of information and curation.
Emily Chang of Bloomberg West discussed Sacca’s post with Om Malik and Joshua Toplasky Malik made a couple of great points, which appeared to be in the same vein as Sacca’s. The first was about the tight competition Twitter has from Facebook, Snapchat and Whatsapp. The second was that Twitter has to try new things and succeed and fail publicly. Basically, Twitter needs to take more risks.
Sacca need not have stuck out his neck and written this long, thoughtful post. It takes a lot of courage to do that. Now that he has shared his thoughts, the ball is in Twitter’s court. What will Twitter do?