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[return to "App.net is shutting down"]
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1. milesf+q9[view] [source] 2017-01-13 03:58:11
>>antina+(OP)
So to recap, Twitter exploded onto the scene in 2007, the "fail whale" appeared a lot, developers made all sorts of wonderful programs hooked into Twitter, the fail whale disappeared, Twitter started to destroy the app ecosystem, App.net launched to great fanfare in response to Twitter's knuckleheaded anti-developer stance, Britney Spears and Justin Bieber arrived and knocked all the nerds out of the top spots on Twitterholic, Donald Trump came and bludgeoned everyone with his bombastic prose, and now App.net is shutting down.

And after all this, Twitter still does not have a viable business model.

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2. fraser+ob[view] [source] 2017-01-13 04:37:54
>>milesf+q9
Twitter finances (TTM):

revenue: $2.52B gross profit: $1.49B

It's only losing money because of stock grants.

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3. nickba+Ec[view] [source] 2017-01-13 04:59:34
>>fraser+ob
Which is a lesson in how VC can easily destroy a viable, profitable business with a "money-chasing-money" strategy.
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4. nl+ve[view] [source] 2017-01-13 05:23:59
>>nickba+Ec
How do you figure that?

1) VCs own hardly any shared of Twitter[1]

2) Stock grants are used as compensation for people working at Twitter, NOT something that benefits investors (except in the sense people are working at the company the investors invested in I guess).

It's easy to blame VCs for everything, but I don't see how this makes any sense at all in this case.

[1] http://www.recode.net/2016/8/11/12417064/twitter-stock-owner...

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5. EGreg+pX[view] [source] 2017-01-13 15:17:59
>>nl+ve
Didn't USV invest in Twitter? Did they cash out after IPO?
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6. vram22+mh1[view] [source] 2017-01-13 17:32:52
>>EGreg+pX
>Didn't USV invest in Twitter?

They sure did. Fred Wilson (USV partner) has talked about it (Twitter as a portfolio company of USV) many times on his blog avc.com .

>Did they cash out after IPO?

Not sure.

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