Twitter Inc TWTR CEO Parag Agrawal got three pieces of advice from Loup Funds Managing Partner Doug Clinton in an open letter over the weekend. Here’s what Clinton had to say.
Defend What Makes Twitter Tick: Clinton called Twitter the “last bastion of truth discovery.”
“Important conversations in pursuit of truth happen on Twitter more than any other social network in world, more than any other place in the world,” the analyst wrote.
The advantage that the company holds in this area is “fragile,” as per Clinton, who noted that while “ideologues focus on the gullibility of partisans and fools attack the company.”
In the wake of such pressures, the former CEO of Twitter Jack Dorsey kept the platform “mostly free space,” as per the Loup analyst.
“You must defend the search for truth when that most fundamental human desire is under attack” advised Clinton.
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No Puny Thoughts Please: Clinton cited the examples of Facebook Inc FB and TikTok who have built “incredible engagement” on “intelligent personalization” of their feeds to “optimize individual entertainment value.”
In his letter, Clinton noted that Twitter’s current feed and ad experience is “little different” from the Mark Zuckerberg-led social goliath but the value created and conversations on the network are quite different.
“If you only ever focus on making small improvements to the existing product, you’ll only ever generate relatively small improvements in the ratio of value captured to created,” the analyst wrote.
In light of that, Twitter needs new product development and “bigger ideas” even if they seem terrible, as per Clinton.
“One of your most important jobs as CEO is to think bigger and to encourage your team to do the same.”
Own The Company: In the Web 3 era, Agrawal can be the founder of Web 3 Twitter. Clinton noted that the social media company already has a “head start” for the movement.
“The reason investors love founder-led companies is that founders think bigger, and they have the political capital to bet bigger.”
Clinton again invoked Facebook and its founder Zuckerberg and said that he is betting on Metaverse, while Twitter should do so on Web 3 where “creators rule, not corporations.”
“Being a founder is hard. Being a CEO is hard. Replacing the founder CEO of one of the world’s most important companies might be the hardest thing imaginable, but we want you to succeed,” the Loup analyst concluded.
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