Overheard in a Palo Alto cafe this morning (the speaker was a veteran venture capitalist):
“Twitter had better sell out before it’s too late. Young people don’t like Twitter. My kids think Twitter’s bullshit.”
What the VC was getting at, it seems, is the “broadcast-y” nature of Twitter, as opposed to person-to-person communications. His kids apparently don’t see the appeal of just tweeting down a rainbarrel to a handful of followers who don’t really give a damn what they had for lunch. They’re OK following big stars, but for communicating with friends it’s Facebook all the way.
Meanwhile, what do WE think?
We (or at least I) think the VC has put a finger on how Facebook and Twitter are addressing slightly different markets–which are not mutually exclusive. We also think Twitter is still taking the world by storm. The company has much to work out in terms of ease of use, and Facebook could become a problem. But unlike “Friendster” and “MySpace,” Twitter is already a verb. It’s is going to have to work hard to blow that one.
We still think Google should buy Twitter for $1 billion. And if Google does come calling with that much on offer, Twitter should take it.
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