Peter Chernin and Pivoting Are Good for Twitter
NEW YORK (TheStreet) -- Dalton Caldwell is the CEO of App.net, which aims to be a competitor to Twitter. It raised $500,000 over the summer, via crowd-sourcing on Kickstarter. It doesn't make money from selling ads. It is trying to be less commercially driven than Twitter and, therefore, more appealing to more users.
Two weeks ago, Caldwell wrote a blog post on his own Web site that criticized Twitter for appointing former Fox COO Peter Chernin as a director.
Caldwell's critiques of Chernin (he called them "interesting things") include:
Chernin sent his first tweet ever after his board appointment He didn't add a "." at the beginning of his first tweet Chernin called himself a "long-time users of Twitter"
This is all for Caldwell to conclude that Chernin is a luddite. He also used a 2006 quotation from Chernin that I believe was meant to show Chernin was a.) responsible for buying and then destroying MySpace and b.) doesn't really get Web companies.
Caldwell then proceeds to explain that this move is the sign of a "pivot" for Twitter away from the old Twitter its initial users knew to one that is aiming to get mainstream people to use. The "post-pivot Twitter" is supposed to be focused on:Consuming news and information instead of sending tweets Being media-friendly Ignoring tweets and replies from "normal users" which is to say the pre-mainstream Twitter users "The Discover tab is the future" Cutting off developers who used to build on top of Twitter APIsI don't know Peter Chernin, but I heard him speak a year ago at a tech conference and came away very impressed. Despite being out of Fox for a few years now, he's been very active in tech investing and has had his name mentioned a couple of times for a top tech CEO job. In his comments at the conference, which lasted about 30 minutes in an informal Q&A, it was clear he had a strong grasp of media, tech, as well as the growing influence of Asia on both types of companies. If I worked at Twitter or was an investor, I'd be very excited about Chernin joining the board. So what if he hasn't tweeted before? Would he be a better director if he'd sent 80,000 tweets already? I don't know. All I know is that, if I was Dick Costolo, I would have jumped at the chance to get him on my board.
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
TheStreet Quant Ratings
TRY IT FREENew! $49.95/yr
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
Product Features:
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Dividend Stock Advisor
TRY IT FREEJim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV