Who doesn’t like to talk about Twitter and Tweets? Word of mouth (or tweet) is the secret sauce of its success. But has it ever been successful? And if it hasn’t, how do you gauge the impact of Elon Musk’s shock therapy over the past two years? Journalist Kurt Wagner joins to share his deep dive profile of the tortured history of Twitter.

For more on Bubble Trouble, including transcripts of the show, visit us online at http://bubbletroublepodcast.com

You can learn more about Richard at https://www.linkedin.com/in/richard-kramer-16306b2/

More on Will Page at: https://pivotaleconomics.com

(Times below correspond to the episode without considering any inserted advertisements.)

This episode of Bubble Trouble features a conversation with Bloomberg journalist Kurt Wagner, author of 'Battle for the Bird,' a book about Twitter's tumultuous history and evolution, particularly under Elon Musk's ownership. The hosts, independent analyst Richard Kramer and economist Will Page, delve into Twitter’s origins, its struggle to monetize effectively compared to giants like Meta, and the significant influence of Jack Dorsey’s leadership style on the platform's direction. They discuss the platform's missed opportunities, such as Vine and Periscope, and how it became a place where 'good ideas go to die.' The discussion also covers Musk's takeover, his attempts to transform Twitter into 'X', and the challenges of balancing free speech with the need for content moderation and advertiser appeal. Wagner shares insights on the potential future of 'X', the impact of Musk's leadership on the platform's advertising and user engagement, and the skepticism surrounding the 'everything app' concept Musk envisions.

00:00 Introduction

01:02 Part One

01:02 Deep Dive with Kurt Wagner: The Story of Twitter

02:36 The Origins and Evolution of Twitter

06:20 Twitter's User Base and Business Model Explored

09:10 The Challenges of Twitter's Business Model

14:10 Board Dynamics and Google's Influence on Twitter

18:03 Extravagant Spending and Corporate Culture at Twitter

21:13 Reflections on Twitter's Stock Performance

23:47 The Almost Disney-Twitter Deal: A Glimpse into Corporate Negotiations

24:29 Twitter's Quest for a Savior and Its Struggle for Independence

25:53 Missed Opportunities: The Story of Vine and Periscope

27:27 Part Two

27:27 Transition to Part Two: The Elon Musk Era at Twitter

27:49 The Challenges of Rebranding Twitter to X and Musk's Controversial Leadership

28:32 The Impact of Elon Musk's Actions on Twitter's Ad Revenue and Brand Safety

36:52 The Struggle with Bots and Spam: Has It Gotten Worse?

40:06 Free Speech Under Musk: A Double-Edged Sword

44:26 The Everything App Ambition: A Skeptical View

46:33 Closing Thoughts and Acknowledgements

47:01 Credits

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Today, we welcome back Feargal Sharkey, who visited Bubble Trouble last summer and dropped a (water) bomb on our privatized utilities. He’s fought the noble fight to expose Thames Water as profiteering polluters. Nine months later we have a massive credit bubble bursting, dumping toxic sewage in both debt laden shell companies and the real shit floating in our rivers and seas, while private equity owners took out £78bn of dividends since privatization kicked in. A warning: this conversation should make everyone angry, whether you draw a drink, go for a wild swim, or just watch your rising water bill - asking how this utility privatization bubble caused so much trouble.

For more on Bubble Trouble, including transcripts of the show, visit us online at http://bubbletroublepodcast.com

You can learn more about Richard at https://www.linkedin.com/in/richard-kramer-16306b2/

More on Will Page at: https://pivotaleconomics.com

(Times below correspond to the episode without considering any inserted advertisements.)

This episode of Bubble Trouble features hosts Richard Kramer and Will Page, with return guest Fergal Sharkey, discussing the failing state of privatized water companies in England. Highlighted are the issues of excessive dividends extracted by private equity owners, the massive debt incurred by water companies, regulatory failures, and the environmental costs of pollution. Sharkie shares his firsthand experiences with water pollution and regulatory battles. The episode delves into the implications of privatization on public resources, the potential for nationalization, and the urgent need for systemic reform in water management amidst mounting public outrage and the looming crisis of water scarcity in London. The conversation encapsulates the complexities of privatization, the financial engineering driving the water industry's woes, and the palpable need for political and regulatory intervention.

00:00 Introduction

00:55 Introducing Repeat Guest Fergal Sharkey: A Deep Dive into Water Industry Woes

00:59 Part One

01:28 Fergal Sharkey's Journey: From Fly Fishing to Fighting Water Privatization

03:27 The Alarming State of England's Privatized Water Industry

06:47 Investigative Journalism and the Mainstream Media's Role

07:44 Exploring the Nationalization Debate and Its Complexities

11:06 Regulatory Failures and the Environmental Catastrophe

14:27 The Financial Quagmire: Debt, Dividends, and the Dire State of Infrastructure

22:00 Addressing the Bondholders: A Call for Accountability

27:12 Part Two

27:12 Looking Ahead: Solutions and the Future of Water Privatization

31:49 The Inefficiency of Global Success

32:11 System-Level Solutions for Water Management

33:14 The Looming Water Crisis in London

34:01 Government's Role in Managing the Water Industry

34:42 The Financial Challenge of Securing London's Water Supply

35:27 Reforming the Water Industry: A Shift in Earnings and Management

35:59 Empathy for the Regulator and the Need for Investment

41:10 Nationalizing the Water Companies: A Strategic Move

47:04 Political Pressure and Regulatory Challenges

49:42 Privatization's Failures and Future Directions

55:20 Concluding Thoughts and the Public's Role

57:34 Credits

Hosted on Acast. See acast.com/privacy for more information.

Hosted on Acast. See acast.com/privacy for more information.