Of course everyone by now has read about the whole “fix twitter” thing.
It is of course too late. You can read a good summary here. In short: Jack led the organization into these problems. The fear of the stock price dropping hemmed them in. They fell for bad-faith arguments from assholes (conservatives). No one wanted to lose their job over bold initiatives or worse, telling the boss he’s an asshole.
Now it’s something-something underpants-gnomes blockchain. It’s too late. The damage is done. No one can fix it. You made a cesspool with occasional good jokes. Time to move on.
I was a backer of App.net back in the day. The idea was solid but it wasn’t the sort of thing that was built for a giant adware business. You (probably) couldn’t build a business with 5000 employees from the App.net model; you’d have a smaller set of (hopefully) sustainable businesses, or business units of a larger company.
Ultimately their “idea” was a portable social graph, and open APIs to build applications. Monetization was underpants-gnomeish and it failed. On the plus side it was genuinely an honest effort.
Dorsey’s effort reeks of Crypto Bro bullshit and his usual detached-from-reality schtick. I don’t trust it and I don’t have high hopes.
The ultimate fix is the internet: blogging, RSS, open protocols. Sadly that stuff doesn’t let a small group of investors get rich anymore, so we got rid of it.