Good morning: Elon Musk’s Twitter bid
Is Elon Musk's Twitter bid healthy for social media as a channel?
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Good morning, Marketers, and there’s a threat to social as a marketing channel.
No, the threat isn’t imminent and may not be fatal, but social media in the U.S. is facing some headwinds, one of which is Elon Musk. By the time this newsletter drops into your inbox he may have changed his mind three more times about his intentions toward Twitter. First he talks about a seat on the board, then he withdraws from that and mounts a hostile takeover. What next?
Everyone has their own opinion about Musk, but I think we could agree that he’s an unpredictable, volatile and very strong-minded individual. Mark Zuckerberg, in many ways, is unlike Musk — but he’s strong-minded too and has, I would say, an idiosyncratic worldview.
Zuckerberg is unassailable at Facebook because of his control of voting shares. If Musk buys Twitter he’s going to be in a similar impregnable position. To have Twitter join Facebook/Instagram as essentially a personal fiefdom puts a huge portion of social media into the hands of just two individuals — and perhaps not the first two one would choose. That doesn’t look healthy to me.
What we’re reading. Thought-provoking observations by Peter Weinberg of the B2B Institute. Engagement highly over-rated compared to simple exposure to ads. Big brands built their success before engagement was even a concept — you couldn’t click on print ads of billboards but they seemed to work just fine. Also, “you are more likely to complete Navy Seal Training than ever click on a banner ad.” Read more here.
Quote of the day. “Taking Twitter private at $54.20 should be up to shareholders, not the board.” Elon Musk
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