Just got done driving for five hours so I don't have a whole lot of gas left for posting but here goes nothing. There's been a lot of drama with Twitter and the Musk Takeover. My partner in crime listens to a podcast that is apparently called Content Mines. I just looked it up and couldn't find it for a second because I thought it was Content Minds. Opps.
In any case these guys are always talking about tech, social media, politics, and things of that nature. Politically they lean pretty left, which is unsurprising given the context I have just presented. They talk about crypto a fair amount too, but many of the talking points are quite basic, opting to focus on the scams and the 'fact' that Bitcoin 'wastes energy'. Things like that.
On the drive we listened to one episode that goes over Elon Musk being sued over trying to back out of the Twitter deal. It's interesting that this lawsuit is still happening and didn't get pulled back even though Musk ended up going through with the deal. A breach of contract is a breach of contract, after all. Free money.
They also went over those emails that got released to the public. Apparently even though Musk owns multiple tech companies he was asking for help with 2FA like a Boomer? Like most left-wingers, they do not think very highly of the guy.
https://www.thecontentmines.com/p/elon-musk-is-not-a-deep-thinker#details (13 min in)
Richest man in the world can't figure out how to make Twitter work on his phone.
Ah I found the podcast so might as well link it. They also went over the conversation with Jack Dorsey talking about the need for Bluesky and decentralized social media. I didn't notice it the first time I read those messages, but the way these guys spin it is that Musk is kind of an idiot. Interesting perspective for a billionaire that owns multiple tech companies.
17 min in
The way they spin this conversation is that Musk is kind of an idiot that has nothing to add to this conversation whatsoever, instead opting to inject nothing statements into it that are just filler in between Jack talking. To be fair it's pretty clear that Musk is so deep into operating on a platform of centralized control that he probably just doesn't understand decentralization whatsoever.
Elon Musk is really just a dumbass?
I mean probably not, these guys just don't like him, and for good reason. Just today I'm seeing that Musk is basically holding Twitter devs hostage and telling them to work 80+ hour weeks or they're fired... so that's great. But as the title of this post implies I really would rather just talk about the whole Blue Check debacle.
$5? $20? $8?
$5/m to edit Tweets? lol?
Kind of comical honestly.
Internet paywalls are WEB1. I can only conclude that Musk is going to run this platform into the ground with these "ideas". A paywall is not an idea, it's the most basic bitch thing that every person in WEB2 knows they need to avoid at all costs to retain users. Luckily it's just a paywall on premium service (Discord Nitro is the same model) and he is confirming that users will be able to monetize their content on Twitter to make up for these costs but... that just implies there will be more ads and profit sharing between Twitter and "content creators".
And let's be honest... Twitter isn't exactly like YouTube in terms of quality content. A Tweet is not something people work on to build value. It's shitposting, and the assumption that shit-posting can be monetized on WEB2 is... ambitious, to say the least.
And you know what's funny?
Despite all this ridiculous bullshit, it's quite apparent that these changes are good for crypto and particularly good for the Hive ecosystem. Most people on Hive were clearly being tossed into an echo-chamber on Twitter with almost zero reach. The day that Musk took over my reach on the platform went from zero, to a number greater than zero. I went from no one ever following me or liking my Tweets to a normal trickle of engagement with random users on the platform (non-hive ppl).
20 minutes into the podcast
They start talking about how they would eliminate bots and other spam with micro-payments in Dogecoin or Bitcoin to make a comment. Again, just hilarious that Hive has already solved these problems 10 times over and then some... and we did it years ago. Yield farming bandwidth is a pretty innovative solution to this problem that nobody at the top even seems to realize exists as an option. So weird. Billionaires just can't wrap their head around what needs to happen here; not even Jack (although he seems to be closer than anyone else).
Conclusion
I'm pretty tired and I've said what I've needed to say. Twitter just got a lot less boring, but the chance that Musk runs it into the ground with bad ideas is significant. Of course when he integrates Twitter into Tesla and self-driving cars are tipping each other Doge to allow rich people to cut in line on the freeway, who knows! Will be interesting no matter what happens. Failure is more of a learning opportunity than success in cases such as this.
Paywalls are exactly the opposite of what we should be trying to accomplish with next-gen social media. But then again everyone on Hive already knows this. Yes, charging a micro-fee is a great way to eliminate spam and moderate the network in an automated way. The problem is the flip-side to that; the mechanics that make these paywall models WEB3 instead of WEB1. Users need to have provable ownership over the platforms themselves, and this is something that billionaires like Musk are simply never going to understand or even tolerate; instead opting to control everything in a very heavy-handed and annoying way. Good luck with that.
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Musk is going to develop a full financial network on Twitter. Mark my words, payments are just the beginning. He had a grander vision for Paypal than the others (the technology also wasnt up to par at that point).
He is going after Wall Street and the banks. Anyone who thinks he paid $44 billion for free speech has a hole in the head. He knows exactly what he is doing and how to monetize.
All the social media stuff is low lying fruit. Paywalls are so 1990s but it does solve a problem quickly while also, surprisingly, giving him some revenue.
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Yeah but that just brings up another question...
Why did he overpay so hard without even trying to haggle with a stagnant business?
Then he gets sued for breach of contract trying to back out.
There are a lot of very strange variables in play here.
Why does he need Twitter to create a financial network?
So many questions, and clearly there's some amount of hubris involved.
He's obviously committed to the project and all-in at this point.
So it will be interesting.
I think that Musk, for one reason or another, concluded that he had to finish this thing quickly. And there were also some very unsubtle political games played behind the scenes.
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Yup, a fully centralized digital ID network.
Spot on!
Damn. Well, I'd leave comment but unfortunately it'll have to wait until payday. Still paying off those damn loans I had to take out in order to pay for all those edits. I was drunk for five years! Didn't even know I wrote half that shit!
Anyway. See you Friday...
those loans always...
Every, damn, time.
Most of the verified people are going to pay regardless. More benefit than few dollars a month 😅
Got to recoup the $44bln somehow. A bit of revenue and significant reduced operating cost.
I am sure Elon can find synergy among his subsidiaries.
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The paywall was something I read about this morning and quite absurd lol. It's definitely a step backwards but maybe he's doing that to troll the rich assholes who are on there like celebs and start making them pay for it.
That conversation between the two, if it's legit, is interesting. Jack appears to be more focused on decentralization and does make a good point about companies and government. Not sure if that's a load of shit conversation though.
It’s going to be popular. Unfortunately most are cheering him even though the plan is anti freedom and full on digital ID.
It’s worked great for us here.
Paywall is general is a good thing and is needed to stop spam. Elon has much bigger plans unfortunately that are centralized and digital ID.
Yeah I know their plans are definitely surrounding digital ID.
Well, this boomer understands 2FA. 😏
He seems to have no clue that those devs can make a lot more money elsewhere. Says the guy whose IT wife puts in 60+ hour weeks on a regular basis.
I really should stop identifying Boomers as such but I can't seem to help myself.
Demographics matter, after all.
Bless your heart.
The way I see it, Data is the main business in all of this, blue thicks are just deep KYCs in disguise.
Could anyone send Jack Dorsey a message that we have already built his idea here on Hive?
He doesn’t care, he wants the credit.
I read that the new twitter owner had sacked all top guys on twitter and would be announcing the new leadership soon. This should mean a good take over in a way.
Elon loves going the opposite direction from what others do this is why I love him. He creates his style.
Nothing good about it. He is trying to implement total digital ID.
Possibly that's a personal view let's see as the events unfold.
Interesting observation on your engagement on Twitter going up... #thisisgoodforhive
Deeply explained 👍
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Sometimes I think musk is trying everything possible thanks run Twitter down because I can't ramp my head off on what is trying to do ,but right now ,I sat on my chair and looking at what is doing
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I just can't envision people paying for their social media. Though Dorsey makes a point about advertisers and government.
I still see Web3 being the answer but it is definitely a more complicated model. At least what we have here on Hive. I really never planned on investing in Hive but the more involved I have gotten the more I try to put in what ever extra I can.
Yet I would never pay $5 per month to be on a new Twitter.
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Elon is not your friend.
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Give it time to try new ideas. The future might be bright for Twitter.
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Ah yes I've also noticed a boost in my engagement and activities. My follower count keeps growing as well and it's been new names popping up.
All hail Elon
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I think he's experimenting. With time he'll know what's best for the platform.
Hive is already doing things Bluesky is intending to do. But we lack good PR and global influence here.
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I really wished he really understand what is planning, cause after weighing all the ew development coming as benefits for the $8, I honestly don't see what is special yet
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Return Twitter to a prehistoric era :))))))
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