New York Magazine - USA (2021-02-01)

management, it could be appraised as one.

Value is created on the platform every sec-

ond. Influencers build followings, busi-

nesses find customers, ideas are generated

and shaped. But Twitter, in a misguided

posture of neutrality, lets all this economic

activity flow across its platform and neither

cultivates nor harvests it. The opportunity

for Twitter—and the fiduciary obligation

for its management—is to command the

space that it occupies.

Attheheart of my proposed revamp is a

subscription model that charges accounts

withfollowers over a certain threshold. Of

course,millions of casual Twitter users

providethe company with its scale, and

I amnotproposing the company charge

them.Rather, the company should recog-

nizethat many people and organizations

deriveenormous value from Twitter at

littleorno cost. My 345,000-follower

accountis an important tool in my profes-

sionallifeand a window into the commu-

nitiesI care about. I’d pay a subscrip-

tionfeeif Twitter thought to ask for it.

AndI believe @KimKardashian (nearly

69 million followers) would pay more.

Thisisn’t just a money grab. Subscrip-

tionencourages a firm to reorient its busi-

nessaround its users—who provide the

bulkofthe content that brings people to

theplatform, after all—and build pre-

miumfeatures that justify collecting pre-

miumrevenue. Even many casual users

wouldlikely pay a fee for better analytics,

controlover their feeds (such as the ability

toswitcheasily between work and per-

sonalmodes), and enhanced profile pages.

Thelackof innovation in the core Twitter

producthas been a weakness for years, but

nowit presents an opportunity to support

a subscription fee.

Adopting a subscription model would

immediately recast Twitter as a recurring-

revenuefirm. Analysts and investors love

thismodel, and for good reason. Recur-

ringrevenues are more durable, more pre-

dictable,and more profitable than trans-

actionrevenues. Paying customers are

more demanding, but their demands

drivetheproduct innovation essential to

long-term growth, and people who pay for

something are more loyal and more likely

torecruitothers.

Asweall know, people are less awful

whenthey are not anonymous. I believe

thatthemost undervalued real estate on

theinternet is Twitter profiles. Giving

usersenhanced ways to verify their iden-

titiesandcustomize their profiles would

notjust reduce toxic behavior and make

Twittera safer place for creators and

professionals—it would create additional

dataforbetter-targeted, higher-priced

nymag.com/subscribe

Highbrow.

Lowbrow.

Despicable.

Brilliant.

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