Twitter now more than understands what the aphorism every dark cloud has a silver lining”. In this case, it’s a solid, pristine platinum.
Less than five days ago, more than half of Twitter’s top executives, including those for engineering, media, product and Vine exited the company and went to the employ of direct competitors such as Instagram. It should have been a moment of glory for Twitter to introduce Twitter Moments, which should have been a new curation tool to bring in a fresh appeal and entice new users to the social media platform. Barely three months later, Moments’ head executives — including product chief Kevin Weil and global media head Katie Stanton — along with two other top executives.
Some say these executives left of their own volition. Some say the CEO pushed them to do it.
Was really hoping to talk to Twitter employees about this later this week, but want to set the record straight now: pic.twitter.com/PcpRyTzOlW
— Jack (@jack) January 25, 2016
Whatever the truth of the matter is, Twitter must now go back to the drawing board, scraping models of leadership and products that have served them well or, in the case of Moments, could have saved them.
Aside from Twitter’s flagging user growth, potential investors have also begun looking elsewhere for stable returns, puling down Twitter’s stock market performance down to a mere 6%. That’s practically millions of dollars taken off the company’s value.
Financial analysts have even begun cultivating snide comments and jokes to poke Twitter’s way. A Trip Chowdhry of Global Equities Research, bluntly called Twitter “total junk” five days ago.
A run-down of the executives who abandoned ship from Twitter paints a very grim picture of the company. It seems hope has begun to be a very, very faint prospect for Dorsey and what remains of his crew.
>60% gone now
— Rich Greenfield (@RichBTIG) January 24, 2016
So what does Jack Dorsey do? Hold the most inspiring, motivational pep rally for Twitter’s employees this side of 2016.
Dorsey called for Tea Time on Thursday, which is Twitter’s biweekly all-hands meeting held in its San Francisco headquarters. There is still no word on what exactly Jack Dorsey said to his people but it was more than enough to fire up their hearts and spirits and fan the flames for their beloved team.
best teatime ever. love this company, this product, this team. ? #oneteam
— Sara Haider (@pandemona) January 28, 2016
Let the hashtag #OneTeam speak for itself.
— Jason Rand (@rand) January 28, 2016
The little blue bird’s employees shared why Twitter means so much to them.
I joined Twitter because it makes everyone in the world accessible and equal, no matter how important they are. #oneteam
— Joaquim Vergès ⚡ (@joenrv) January 28, 2016
And how it has become a tool for positive change in the world.
— Kunur Patel (@kunur) January 28, 2016
— Jenna Golden (@jigolden) January 28, 2016
Some employees began thinking about how meaningful Twitter is to the legacy they’re leaving.
I’ll be 50 yrs old soon. Statistically I probably only have days left. Best to spend em on the most important platform on the earth #oneteam
— Chris Moody (@chrismoodycom) January 28, 2016
Because what Twitter makes happen will be remembered for generations, and I want to say I was there. #oneteam
— Jim Prosser (@jimprosser) January 28, 2016
This is the real deal.
Many companies have their “crazy cult” moments, but suffer them in private. Happily for us, this isn’t the case for Twitter: #oneteam
— Gabe Rivera (@gaberivera) January 28, 2016
It’s community. And purpose.
Great people. Massive impact. #OneTeam
— Richard Alfonsi (@ralfonsi) January 28, 2016
And because, well, it’s been their one true love since Day One.
— Farhad Manjoo (@fmanjoo) January 28, 2016
While this enthusiasm and overwhelmingly heartwarming team spirit has certainly made Twitter history, what’s to become of their less-than-dismal stock value performance? Analysts and finance counselors both say that only time can tell, but Twitter certainly needs that #OneTeam zeal to pull itself up — starting with its stock market value. Perhaps this enthusiasm will attract like with like.
The Twitter board also needs a shareholder who actually paid for their stock. That would do wonders to advance investor relations.
— Chris Sacca (@sacca) January 24, 2016
One good lesson we can all take away from this story is this: in keeping a business or a company afloat, it always helps to not only have a great, devoted, and motivated team to back you up, but also wise finance counsellors with a lot of foresight and sincerity on your side. It’s always a wise choice to not only learn more about Suzanne Uhland and other counsellors, but to see how their services can best help your company.
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