Sacca has expressed that Twitter can be a lot more and needs to look into monetization and also should hold onto the new users.
Latest Twitter news is regarding the social network’s investor criticizing the network and also analyzing different situations. It is seen that the top executives of the social network company took the questions from its investors in yesterday at the occasion of annual investor day in San Francisco. However, the renowned shareholder of the company, Chris Sacca, was not aiming to wait to share the advice for the company so it can fix the issues.
Sacca has noted in the post “What Twitter Can Be” that he has “a lot of Twitter stock”. Furthermore, he has offered a lot of criticisms and suggestions which are aimed at the company that is struggling. It was previously notified by the investor in the post “I Bleed Aqua” that he will do this. The post had been after the famous color scheme by Twitter. The blog post that Sacca wrote was 8,500 words long and pretty extensive.
The good things that were highlighted by Sacca included that the revenue is coming strong, also the product launches are faster and the acquisitions by the company such as that of Periscope are a winner. However the bad aspect included that the growth has been stalled, the new users are not being hold onto and an utter fail with the media and Wall Street. However, the most strongly noted point by him was that Twitter has done not a satisfactory job when it comes to setting the expectations outside of the organization.
He expressed that “Despite that, my biggest concern is the abundance of public doubt and misunderstanding when it comes to Twitter’s vision and the near future for the service,” also that we shouldn’t be blaming the press or Wall Street, the company itself has failed to tell its story.
Twitter news reports that the investor further elaborated that the company has the boldness in its bones but it is required to be bolder than that. And it also needs to look into oversized payoffs with potential and bet them on larger scale. And also to question the aspects of the social network that it has been taking for granted till now.
Also the smaller teams have to be operated which do not require much permissions for the changes to happen. The company can also build the wrong things, it has that affordance. However what the company cannot afford is to build the things way slowly. In the blog post, Sacca also discussed that media is thinking of him as an activist investor, and also the one who is a troublemaker for Dick Costolo, CEO of Twitter and his team.