But Wall Street—along with everyone else who’s down on Twitter because it has “a growth problem”—is making a mistake by comparing it to Facebook. Twitter is not a social network. Not primarily, anyway. It’s better described as a social media platform, with the emphasis on “media platform.” And media platforms should not be judged by the same metrics as social networks.
Twitter is all about the news, no different than any news network. But instead of following the entire channel you can follow individual anchors and get his or her own direct broadcasts without the pressure of friending them. Twitter is an influencer’s network where you learn; if you want to keep in touch with people you actually hit up Facebook.
It still frustrates me that Twitter missed out own owning Instagram. Instagram is the photographic lens for news.
You may read the news to stay up-to-date on current events or to conduct research. You probably get your news from multiple sources including social networks, online newspapers/magazines, or blogs. The plethora of resources can be overwhelming.
But no matter where and how often you consume the news, the only thing that matters is how you end up using it.
Part of the reason I blog is to make sense of the world around me. Nothing makes sense to me until I write it down and connect the dots.
“We cannot make good news out of bad practice.”Edward R. Murrow
News is only so helpful as its application to the real world.
If you’re mostly a consumer today, I encourage you to use and remix what you discover and teach it back to other people. Apply the facts to experimentation.
Philosopher Alain Button examines the irony of excess news:
“There’s an awkward fact about information. If you have too much of it, it starts to numb you. You lose the thread. You forget what you were even interested in or what you can change…an excess of information can erode any sense of what the real priorities are.”
Twitter is the real-time amplification of news. It’s so overwhelming and informative that we give an important story 100% focus and just as quickly devour the next one. Our attention span today is “one second less than a goldfish.”
Had those copies been purchased, the album would have grossed another $3.8 million in sales at $15.99 per album. While it’s certain that piracy eats into music revenue, it’s difficult, if not impossible, to know what percentage of those illegal downloads would have displaced purchases, since not everyone who pirated a free copy would have bought the album if it weren’t available via file sharing sites.
The Economist is more optimistic.