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Twitter CEO Jack Dorsey Allocates $1 billion in Equity to COVID-19 Relief Efforts

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Twitter CEO Jack Dorsey is allocating $1 billion in his personal share equity to a new fund that will initially aim to assist in COVID-19 relief efforts.

In a tweet thread, Dorsey explained that he has allocated more than $40 million to various causes and organizations over the years, though mostly anonymously. Now, Dorsey says, any donations and grants will be public. Given he’s utilizing share equity, as opposed to direct cash, that makes sense – though even with that concession, the allocation is significant. 

Dorsey says that the funding will benefit both Twitter and Square over the long-term “because it’s helping the people we want to serve”.

As noted in Dorsey’s original tweet, once the COVID-19 pandemic is under control, the funding will switch to girls’ health and education, and universal basic income, which Dorsey says “represent the best long-term solutions to the existential problems facing the world”.

Many CEOs and billionaires have been criticized for keeping quiet amid the pandemic. With systems collapsing, and people losing their jobs all around them, those with the capacity to offer the greatest financial assistance have largely remained out of the picture, with some even seeking additional government funding to prop-up their businesses.

But there are exceptions. Facebook Mark Zuckerberg has donated millions to research and relief efforts through the Chan Zuckerberg initiative, which he operates with his wife Priscilla, while Microsoft founder Bill Gates recently announced that he would be investing billions to fund the construction of factories for COVID-19 vaccines, despite the fact that a lot of that money will go to waste on vaccine trials that don’t eventually make it through to production. Yet, even so, building the infrastructure is necessary for testing, which will speed up the process, and ensure the delivery of a viable vaccine faster than normal methods.  

Dorsey says that he hopes his donation will inspire others in similar positions as him to do the same.

“Life is too short, so let’s do everything we can today to help people now.”

Given that Dorsey is also under pressure to retain his job as Twitter CEO, it’s a significant commitment. And it will, indeed, be interesting to see if other billionaires follow Dorsey’s lead, and look to donate for the greater good.  

Socialmediatoday.com

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17 Content Options for Each Stage of the Sales Journey [Infographic]

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17 Content Options for Each Stage of the Sales Journey [Infographic]

Looking to formulate a better content strategy for 2023?

This will help – the team from Orbit Media has put together a listing of 17 content formats, and where they fit within the sales funnel which could provide some inspiration for your planning.

There are some good pointers here, with specific approaches that you can take at each stage of the journey.

Check out the full listing below – while you can read more on the Orbit Media website.

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Meta Soars by Most in Decade, Adding $100 Billion in Value

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Meta Soars by Most in Decade, Adding $100 Billion in Value

Correction: February 2, 2023 This article has been revised to reflect the following correction: An earlier version of this article misstated how much Meta expected to spend on its deal with the virtual reality start-up Within. It is $400 million, not $400 billion. Meta’s stock surged on Thursday …

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Twitter’s Cancelling Free Access to its API, Which Will Shut Down Hundreds of Apps

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Twitter’s Cancelling Free Access to its API, Which Will Shut Down Hundreds of Apps

Well, this is certainly problematic.

Twitter has announced that, as of February 9th, it’s cutting off free access to its API, which is the access point that many, many apps, bot accounts, and other tools use to function.

That means that a heap of Twitter analytics apps, management tools, schedulers, automated updates – a range of key info and insight options will soon cease to function. Which seems like the sort of thing that, if you were Twitter, you’d want to keep on your app.

But that’s not really how Twitter 2.0 is looking to operate – in a bid to rake in as much revenue as absolutely possible, in any way that it can, Twitter will now look to charge all of these apps and tools. But most, I’d hazard a guess, will simply cease to function.

The bigger business apps already pay for full API access – your Hootsuite’s and your Sprout Social’s – so they’ll likely be unaffected. But it could stop them from offering free plans, which would have a big impact on their business models.

The announcement follows Twitter’s recent API change which cut off a heap of Twitter posting tools, in order, seemingly, to stop users accessing the platform through a third-party UI. 

Now, even more Twitter tools will go extinct, a broad spread of apps and functions that contribute to the real-time ecosystem that Twitter has become. Their loss, if that’s what happens, will have big impacts on overall Twitter activity.

On the other hand, some will see this as another element in Twitter’s crackdown on bots, which Twitter chief Elon Musk has made a personal mission to eradicate. Musk has taken some drastic measures to kill off bots, some of which are having an impact, but Musk himself has also admitted that such efforts are reducing overall platform engagement

This, too, could be a killer in this respect

It’ll also open the door to Twitter competitors, as many automated update apps will switch to other platforms. This relates to things like updates on downtime from video games, weather apps, and more. There are also tools like GIF generators and auto responders – there’s a range of tools that could now look for a new home on Mastodon, or some other Twitter replicant. 

In this respect, it seems like a flawed move, which is also largely ignorant of how the developer community has facilitated Twitter’s growth. 

But Elon and Co. are going to do things their own way, whether outside commentators agree or not – and maybe this is actually a path to gaining new Twitter data customers, and boosting the company’s income. 

But I doubt it.

If there are any third-party Twitter apps that you use, it’ll be worth checking in to see if they’re impacted before next week.



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