There’s a good video by Fred Wilson about Twitter and what he, as an investor in it, thinks about it. What he boils it down to is three points:
- “the single most important is that twitter from day 1 is a platform that others can build upon”
- “it is very one-dimensional…it doesn’t do anything that is not in the timeline….It’s power comes from that – it’s straightforward”
- “Twitter is the news feed for the web” as people embed links in their tweets and it’s now an alerting system
What else is interesting is that Twitter wasn’t pitched to Fred but rather he was an early user of it and he pitched to them to try to get them to take money from Union Square Ventures. This is why i think Fred is one of the best VC’s in the business because he uses the products. The web is all about product. It’s not like the industrial revolution, it is a consumer facing which means that the usability is extremely important. He is an early adopter and gets into the weeds. I have a hard time imagining other VC’s using Twitter when it was still a part of Odeo.