Union Square Ventures - Latest Comments in Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Ian Winscom — Fri, 19 Oct 2007 01:32:30 -0000

May be cliche, but to understand Twitter, you have to think outside the box, cause Twitter was built outside the box.

Understand Evan Williams' thinking... let's make a super-simple interface, release a super-simple API, ask "What are you doing?" and let everyone else figure out what can be done with it. And the hundreds of apps built with it, and the hundreds of different ways people are using it, prove for a successful formula.

Some people use it for media headlines, as a micro-blog to get info out between their long winded blog posts, simple communication, get a constant stream of twitter posts from an event, as I did this week with the Web 2.0 summit. In my company, you can pull your twitter posts right into your social network, so you can see where someone is traveling to, when, stuff they're doing on the road. It's a blog for people who don't blog.

I think building small, simple, and slim apps and interfaces and opening up as a platform is the future of the web.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Twitter forum — Sun, 29 Jul 2007 00:52:56 -0000

We also have 100+ twitter applications and services listed in our "Twitter Forge".

Twitter Community and Forums

http://twittown.com

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Tyler Willis — Fri, 27 Jul 2007 18:48:57 -0000

"Would love to see an answer to Marc Nathan's comments (8:43 am). What market need is Twitter solving? Where is the 'large and obvious market need' beyond novelty?I've used it to post, but see it more as a second life product - never a core app. Eventually, a waste of time."

There are numerous uses that a lot of twitters above have touched on shallowly. For me it provides one layer that makes it "killer."

The same way I ping my entire network when a major event happens (for example let's say a layoff) and say "Here's what's going on in my life, if you're able and so inclined - I'd love your help in moving forward productively." That use is understood, I'm making a plea for help from my network and providing them the information they need to help me. This is seen in more desperate situations for the most part (again, a layoff is a good example).

Twitter allows me to apply this same openness to much of my life, and receive and give more to my friends by following the information on their life. It's different than a blog, email, or other communication method because it provides for Banter (spot on Fred) and is pushed to your network.

My example is weak, but stick with me:

i.e. - If I twitter "trying to find a good barber in Denver before my meeting - Yellow Pages SUCK!." My friends can see this and within my network maybe .5% has a recommendation. I'm not going to email spam my friends to get this benefit, it's not important enough.

I could post it in a passive medium (facebook, blogging, w/e) but what are the odds that any of those .5% will see it in time? With Twitter, it pushes it to my friends actively, but not in an intrusive way (email). A loose acquaintance sees this, and twits me back suggesting his favorite place when he lived there. I look good, and he has helped me. I get to repay the favor when someone is looking for something I know well.

This also extends to interactions... "bored at 22nd and Mission" can lead to a quick call from me. "Hey I'm in the area, wanna grab a quick cup of coffee?"

It works for me like a cross between IM and Txt messaging. You can ignore it like IM if you're busy, it's as convenient in off-line life as SMS, but it's also got the added value of Network.

I think it was a good bet to make, Great job USV and CRV.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Dhrumil — Fri, 27 Jul 2007 18:40:50 -0000

Reply to: MMT

Here's the value I find in twitter.

I run a raw food blog called We Like It Raw. I have a twitter where I not only update my where abouts, but I often talk about what I eat and various health tips that can be easily digested.

So far the response has been awesome.

I know, especially through the use of APIs, that people fill continue to find very useful and exciting ways to continue to use twitter.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Noah Robinson — Fri, 27 Jul 2007 15:39:29 -0000

This will exit well but what's the utility, business model?

Noah

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Jeff Sass — Fri, 27 Jul 2007 15:27:33 -0000

Excellent. Twitter is a great community, communication tool, connector and discovery channel. I've never been happier to be called a TWIT!

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Roy — Fri, 27 Jul 2007 14:15:57 -0000

I just signed up as result of finding this article thru a post on PaidContent.org. I was constantly asked if I wanted to display secure and unsecure data as I navigated from page to page (sometimes twice between one page). There were other interface and usability issues that certainly had me wondering if my benefit was worth the hassle of completing the information. However, it looks like a great way to stay connected and after having read a lot about the service over the last year, I'm looking forward to trying it out.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Lucas — Fri, 27 Jul 2007 14:06:18 -0000

Congratulations. I use Twitter and find it fun, and I agree that provides a "platform for banter." The question is whether banter is an interesting form of public communication or just minutiae that is interesting only to your friends. A good way to think about online communication is to imagine off-line analogies: email replaced the written, posted letter, blogging allowed anyone to become an essayist/pampleteer, texting allowed friends to quickly communicate while on-the-go. Twitter allows us to make our high-velocity chit chat public? Not sure if that's a clear value-add in terms of quality of human communication, or just puts more quotidien content out there for people to sift through. Either way, it's a very interesting place to be and a very cool investment. Congrats again.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Steve Rhodes — Fri, 27 Jul 2007 13:53:16 -0000

Mother, you should monitor your child's internet activity and not let them on twitter (but anyone's updates can be set to private - it would be nice to have more control over what is public and what is private).

Matt, while there certainly are a lot of tech savvy people on twitter, just set up twittervision. You'll see a wide range of people using it in many different ways.

Many people will never use twitter (or try it and stop using it), but there are a lot of people not using it now who may in the future (especially with resources to make it better).

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

paul — Fri, 27 Jul 2007 13:42:52 -0000

Twitter's creators have plenty of money so why do they need more money before they can come up with a way to make money, because now they will have to earn even more money to justify this investment.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Mike Rundle — Fri, 27 Jul 2007 11:57:35 -0000

So I've asked at least 10 people I know who are not in the tech industry if they've ever heard of Twitter, and they said no. Figures.

Twitter is interesting, but not groundbreaking, and not market-spanning. I'm not exactly sure how Twitter's appeal will jump from the technical audience to the non-technical audience, aka, from the .01% it currently enjoys to the 99.99% it doesn't, and then how it's going to scale from a $0 revenue business to a 7-8-9 figure revenue business. Not to mention the lack of a barrier to entry (Pownce) indicating that Facebook or Myspace could spend a week and blow Twitter's house in.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

MC — Fri, 27 Jul 2007 11:41:10 -0000

Would love to see an answer to Marc Nathan's comments (8:43 am). What market need is Twitter solving? Where is the 'large and obvious market need' beyond novelty?I've used it to post, but see it more as a second life product - never a core app. Eventually, a waste of time.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Matt — Fri, 27 Jul 2007 11:21:56 -0000

Twitter is an interesting idea. However, I question the ability to monetize Twitter. Why would people use twitter when they could use an IM or other form of communication. Is there really a practical application for a system that lets people send a 140 character or less message? I find it difficult to believe that business people or professionals would use Twitter instead of another form of communication.

While the idea is very unique and the technology is great, Twitter almost seems like a company using technology just to use technology.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Mother — Fri, 27 Jul 2007 11:13:44 -0000

I sure wouldn't want my kids on Twitter, telling the world where they are and what they're doing at this moment.

I'm sure burglars, rapists, stalkers and kidnappers will all thank you for your investment.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Cathleen Rittereiser — Fri, 27 Jul 2007 10:09:32 -0000

This is a variation of what I posted on Twitter last night. You may not be my friend on Twitter, but any investor friend of Twitter like you is a friend of mine. Twitter has built a great community despite technical failings. So a stable technology platform plus a robust community will equal monetization. Congratulations and thanks.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Charlie — Fri, 27 Jul 2007 09:25:00 -0000

@jm

Yes.

See Google.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

jm — Fri, 27 Jul 2007 09:06:53 -0000

Is it usual from a VC not to understand the business model but still put money inside a start up????

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

MMT — Fri, 27 Jul 2007 08:57:56 -0000

@Dhrmil,

What market need is Twitter exactly solving? The ability for me to tell "my network" that I left a meeting to grab a cab? To document my every thought and movement to the masses? I'm not sure I see it catching on beyond the tech elite. But I can be convinced.

In addition, I haven't seen anyone really prove that communities are profitable ventures, other than scooping up VC funding.

MMT

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Marc Nathan — Fri, 27 Jul 2007 08:43:24 -0000

Twitter is a solid investment because it clearly has three main ingredients for success: experienced, passionate team; large and obvious market need, and the barrier to entry is their fast growing user base and first mover advantage.

All of that might sound very bubble 1.0, but "building a community" is much different than "capturing eyeballs" and the economics are much more favorable for the former.

Congrats to all parties.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Dhrumil — Fri, 27 Jul 2007 08:29:22 -0000

Fred, you're a role model.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Chris Hamoen — Fri, 27 Jul 2007 08:17:36 -0000

Not convinced yet - will it make it out of the tech-elite? No business model? There must be something - can you really get funded without any idea on monetization at all?

Sounds like circa 1999?

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Jeremie Berrebi (Zlio.com) — Fri, 27 Jul 2007 06:19:18 -0000

Congratulations ! Looking forward to see a Twitter Intranet/Extranet Edition !

We really need that kind of application for corporate communication purpose

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Jason Vu — Fri, 27 Jul 2007 05:36:19 -0000

Twitter goes with right investors.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Emre Sokullu — Fri, 27 Jul 2007 02:34:42 -0000

Twitter is a new form of communication, just like cell phones, email and blogs. Perfect fit, congrats.

Re: Twitter - Union Square Ventures: A New York Venture Capital Fund Focused on Early Stage & Startup Investing

Nik Cubrilovic — Fri, 27 Jul 2007 02:17:41 -0000

Congratulations Fred, CRV and the rest of the team. A great product and a great team of investors