Staggers me that Twitter is substantively shaping the fate of the most powerful nation in the world, but can't turn a profit.
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I've written up my 'too big to nail' theory of Twitter, but I think a pure economics view misses half the story us1.campaign-archive2.com/?u=78cbbb7f288
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The pure sociological view -- the narrative around trolls, abuse and community health in particular -- is also incomplete.
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New theory: Twitter has not just created *economic* land-grab territory with vast wealth that's too big for one company to nail...
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...it has created new *kind* of grey political turf, on the edge between legitimacy and illegitimacy in a social order (4chan is there too)
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In past, new tech would create new "outlaw" wealth, drive social order expansion to find legitimacy. New money laundered to old in 3 gens
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Old and new social orders might differ in scale, scope, variety and wealth distribution but sizes of white, grey, black wealth stayed steady
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Politically, it represents grey cultural and social capital. It can neither truly underwrite political power nor properly work to subvert it
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What it *can* do in both economics and politics is cast a permanent cloud of ambiguity and doubt on black-and-white notions of legitimacy
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