Twitter Will Have Winning Ideas, But All Won’t Catch on, Says Binance Boss

von Eva Fox November 02, 2022

Twitter Will Have Winning Ideas, But All Won’t Catch on, Says Binance Boss

Photo: Cover Art/Illustration via Cryptoslate

After the purchase of Twitter by Elon Musk, many proposals appeared with interesting ideas for transforming the platform. The Binance boss emphasized that we should expect not all of them to take root, but some will be victorious, which is the key to the success of Twitter.

Changpeng “CZ” Zhao, the boss of Binance, has supported Elon Musk's takeover of Twitter from the start. His crypto exchange has invested $500 million in Musk's concept for a social network. He said that he was ready for any outcome, expecting both the collapse of the deal and its completion, and was pleasantly surprised that it did take place.

CZ was pleased that Musk wanted to make a lot of new changes to Twitter, as the platform was slowly developed new features lately that could attract and engage a wider user base. “You can see the speed of change on Twitter is much faster now,” he said. “Last year, I don't know how many new features (the company rolled out); I didn't see that many. But I fully expect that with Elon now in charge, the speed of new features rolling out will be much faster,” CZ continued.

At the moment, Musk and his team are thinking and voicing new ideas for Twitter, which is a very positive moment. CZ believes that most ideas will not catch on, but he is sure that 10% will be truly amazing and will be liked by the users of the platform. “Not all [new features] will stick. I would actually say probably the majority of them will not stick,” he said. “But that's how you figure out the rest of the 10% of the features that will stick; by defining a lot of new features,” he added.

“Twitter plus Elon? Independently, they have a lot of potential, but combined, there is such high potential.

"Musk is a strong entrepreneur and we love to support him. We're both heavy Twitter users, although he's a bit heavier than I am.

“Ten to 20 years from now, we're very confident that this will be a much stronger platform than Twitter yesterday.”

© 2022, Eva Fox | Tesmanian. All rights reserved.

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Article edited by @SmokeyShorts; follow him on Twitter








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