Twitter Will Be Obsolete Once Elon Musk launches his New Social Network

It’s no secret that the social media landscape has been changing rapidly in recent years. As of late, companies like Facebook and Twitter have been steadily losing their share of the social media market to newer services like Instagram and Snapchat, which are appealing to younger audiences with innovative features and unique cultures.

Yet while everyone in Silicon Valley has been wondering which service will eventually emerge as the new king of social media, no one expected this challenger to come from an unlikely source: Elon Musk. The Tesla and SpaceX CEO plans to launch his social network Twitter later this year, though he remains tight-lipped about the details so far.

Why We Need a New Social Media

It’s time for social media like Twitter to become a thing of the past. As I lay in bed and scroll through my Facebook feed, I think back to how my favorite celebrities and influencers used to interact with their fans. They had real conversations with their fans, answering their questions and offering support when they needed it most. Imagine if Instagram had been around in 2009 when the San Fransisco Bay Area had its worst floods ever.

What if Justin Bieber was an Instagrammer in 2009? If he was, would there have been more people willing to donate clothes or supplies? Wouldn’t people have just given him some money instead of writing mean comments on his Facebook page?

Introducing: SpaceXbook

Let’s assume you’re in the market for a new social media app Twitter that connects people. You want to make it fast, intuitive, interactive, and heavily invested in user privacy.

And let’s assume you want to set up this app on a global scale: It needs to work no matter what country someone is in. And let’s assume that you have the financial backing of one of the richest men on earth: SpaceX CEO Elon Musk. What do you build? The answer is SpaceXbook.

Who’s allowed to be on SpaceXbook?

Everyone. You can’t be a terrorist and you have to have a genuine username, but otherwise, it’s anything goes! But at least try not to send a billion public tweets per hour, that might cause trouble.

SpaceXbook will feature the functions of any other social network like Twitter: private and public posts; followers; following. The main difference is that all SpaceXbook posts are either live or archived videos that are viewable in their entirety for up to two hours after publication, before being buried into oblivion like Tweets today. So feel free to post YouTube links too!

Who owns your content on SpaceXbook?

Technically, SpaceXbook is a completely new social network like Twitter, not an extension of Twitter. It’s different enough that I feel confident in making the bold claim that no one will even miss Twitter after SpaceXbook debuts! Let me try to explain this in detail so you can understand the fundamental differences.

First off, the most obvious difference is that there are no character limits on posts or tweets. This alone means that conversations and thoughts are unrestricted, allowing people to be as creative as they want. Another difference is that users can choose to share only with a specific audience (a subset of their friends). For example, if you make a post about your favorite Netflix show Breaking Bad, and only want to share it with your fellow fans of the show then you’re good!

What about Elon Musk?

It is easy to see how Tesla and SpaceX CEO Elon Korp’s electric-car company, the Boring Company, and a futuristic endeavor to create ultra-high-speed transportation between major cities, the Hyperloop may well make him seem invincible.

It is not far-fetched at all to imagine that Mr. Musk is well on his way to creating a complete suite of successful endeavors and may have enough projects in the pipeline that he might eventually launch something as disruptive as Twitter. What will it be? Who knows! But when you consider how much money he has access to, it would seem unthinkable that he wouldn’t want to beat an entire social network like Twitter into obsolescence.

How does SpaceXbook make money?

To be able to make money, SpaceXbook needs a way to generate revenue by selling advertising space on the website and through purchases of premium subscriptions.

The launch of SpaceXbook will also need to have costs that are paid by the business before they can see any profit. These start-up costs will be one-time, meaning they won’t happen with every purchase or use of the product. Examples of these costs would be hardware and developing new features for the service.

To maintain a good balance between cost and sustainability, SpaceXbook will need to ensure that at least three-quarters of all profits come from ad revenue to keep profits high and stay afloat financially over time.

Is it time for another Dot Com Bubble?

It looks like the United States is seeing a new Dot Com Bubble. The latest in this trend is Square’s $35-a-share IPO and it also appears to be selling out. Twitter is a classic example of how people can invest hundreds or thousands of dollars into stocks,

who are confident they will be worth more than ever, just to have them tank within a few weeks after their release. What I find interesting about this trend is how quickly people forget how quickly stocks can go up, just as easily as they can go down.

Keep browsing Law Scribd for more updates.