I've written up my 'too big to nail' theory of Twitter, but I think a pure economics view misses half the story http://us1.campaign-archive2.com/?u=78cbbb7f2882629a5157fa593&id=d6081dc3f9 …
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Replying to @vgr
The pure sociological view -- the narrative around trolls, abuse and community health in particular -- is also incomplete.
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Replying to @vgr
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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Replying to @vgr
...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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Replying to @vgr
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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Replying to @vgr
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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Replying to @vgr
Economically it represents zone of partially laundered grey money. Stuck in limbo between tax-paid up bank deposits and cocaine under bed
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Replying to @vgr
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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Replying to @vgr
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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Replying to @vgr
I think this is a good thing. It also means, modulo bad management, we need to develop a 'grey economics' and 'grey politics' around Twitter
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tldr: if Twitter will not come to normal economics and politics, economics and politics must go to Twitter and go weird.
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