In 2008, Blaine Cook, a developer on Twitter Inc (NYSE: TWTR), stated that he believed the platform could become the backbone for online conversations. The space would allow people from different social media platforms to have conversations. Cook even made a prototype to demonstrate this idea.
Cook received no support for his vision. Instead, he was ousted from the start-up. Since then, Twitter has been a centrally regulated platform. However, the company seems to be exploring a version of Cook’s idea as Parag Agrawal, its CEO, begins to push for decentralization.
Twitter could add a tab for podcasts
Meanwhile, Jane Manchun Wong has posted a screenshot that indicates that Twitter is creating a tab for podcasts. Wong doesn’t reveal if the podcast feature will use Spaces, Twitter’s audio chatroom.
Twitter has shown an interest in audio since 2020 when it launched Spaces. This feature lets users record audios and have chatrooms. Moreover, it acquired a podcast platform called Breaker
Twitter is also expanding its content warning feature to all its users. This feature allows users to hide posts, including videos and photos with tags such as sensitive, violent, and nudity. This contrasts with tags that give a blanket warning instead of being specific. Twitter has announced the feature will be available to all iOS and Android users.
Twitter stock has declined by 50%
Analysts have noted a 50% drop in Twitter’s stock value. This decline results from falling short of earnings estimates, a new CEO, and slower user growth. Furthermore, the drop was amplified in 2022 when the U.S Federal Reserve started that there could be a rise in interest rates.
This announcement has affected multiple companies as investors have decided to buy safer shares. However, the interest rate has been lower since Russia invaded Ukraine.
Meanwhile, Gary Gensler, the chair of the U.S Securities and Exchange Commission (SEC), has stated his uncertainty on whether companies that advertise themselves as ESG are as socially conscious or green as they claim.
Gensler points out that the problem is worsened by the lack of clear guidelines on what ESG could mean. As a result, many money managers falsely claim that the funds they represent are ESG.
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