Twitter CEO on the Future of Twitter

(CBS)  The co-founder of Twitter unveiled new innovations on the horizon for the popular social networking site, including user-generated lists to follow tweets from many originators on a particular subject, and geographical location datelines to show where tweets are coming from.

Evan Williams, a Silicon Valley entrepreneur who co-founded Twitter, also said Twitter is working on a reputation validating system to address isues of credibility for the site. Twitter became a major newsmaker this year when Iranians sent tweets about the brutal Iranian government crackdown on protesters.

Williams said the role Twitter played in showing the world what the Iranian government was doing was "clearly gratifying."

But he said he understood the concerns of news media in how to handle such information, which is essentially unverified and reported by anonymous entities.

"It demonstratied a potential we thought was there ... having worked on technologies that allow people to publish more information freely, I believe, is a good thing ... but it also says to me 'Wow,' we have so much more to do."

Williams said Twitter is working on several things which will help give the network more credibility as an information source. For example, tweets will soon have an option that shows the location from where they're coming.

"If a tweet is coming out of Iran on a mobile phone, there are still ways to fake that," he said, but noted that a geographical location would screen out a lot of fakers.

The network is also working on a reputation system, based on ratings from other users.

"We are working on reputation systems ... You may not know someone is trustworthy, but other people who are trustworthy trust them."

One of the challenges, he said, is the balance between anonymity -- anyone can create a twitter account -- and reliability. He noted that anonymity was key to the Iranians posting images and news of the government crackdown.

"Anonymity was a key thing for the people there ... How do you have anonymmity and trust ... that is a key thing,'' he said.

Williams was the opening speaker Friday at the annual convention of the Online News Association. He waffled on the omnipresent question about how Twitter, which is financed by venture capitalists, intends to make money.

"We're focused on building the value for awhile," he said. "When it comes to prioritization, we value the things that best secure twitter and the things twitter does best."

One new innovation to be unveiled in the short term is lists, a feature that will make it easier for Twitter users to group -- and share with others -- the people they are following. A user could have separate lists they're following, personal friends, sports figures, celebrities, and share these groups with others.

See also: Jack Dorsey--A Twitter Mastermind

Searchability and organization of tweets is a key goal in the short term, Williams said.

"It's been one of the biggest issues of Twitter, you know stuff is going on in there, but where is it?"

Williams, who noted that he had worked on a half-dozen technology start-ups before Twitter, was asked for tips about entrepreneurship.

"One thing we try to keep in mind, is assume we don't know what will happen and therefore not get too clever about what we're doing ... things don't happen as you think they will on the Web."

He also shared the origin of the name. Williams said he and his partners were first sending their tweets via cellphones that would vibrate, which made them think of twitch ... and then twitter was right below that in the dictionary.

"Twitch didn't have the most positive connotation. ... Twitter had the connotation of birds talking. I don't know who started calling them tweets. At first we thought that's not right, but then we embraced it."

[steenolsen]

Regardless of whether or not Twitter turns out to be a fad, why not use the service constructively as long as it is relevant for your business?

Twitter would certainly not be the first service/product/company to come and go.

[sameerarrancar]

With the addition of Lists or Groups and Authority, Twitter should definitely utilize the Widget they built more. You can find the Widget @ http://twitter.com/goodies/widgets

The Widget should allow the creator to pre-select Authors in different Reputation Rating to show up in the Widget about that List/Group. End users can tweak with this setting if they want to, where they can filter out certain author whom seem to offend them, lower or raise the Reputation Rating.

In addition to the above change, Twitter should create a space inside the Widget where the creator are able to put in their Advertising where it's CPM, Sponsorship or their own company Logo. This space should be a simple pasting of Ad Code or Logo image.

Here is an example, maybe CBSNews is running a video stream covering some event; the Twitter widget can be embedded on the side of the Video stream and the Ad Spot can either be CBSNews Logo or if they have gotten any Sponsor for the coverage.

I think this will spur adoption for the Widget itself.

Why is Twitter going to put this up as free and allow creators to monetize?

That's because Twitter can actually gather data anonymously on the adoption rate and if this is a possible venue to have substantial revenue through revenue share.

In which case, their revenue model is still shrouded in anonymity and the valuation of $1 Billion is not challenged.

[deanholmescbs]

Evan,

Just wrote a note before I saw this on my blog - you and the Management Team may want to read it. We represent some of the biggest brands on Twitter running their Social Strategies. http://******/1gd27A


Let me know.

Best,

Dean

[ColinAC]

Twitter 'could' be a fad if the team doesn't get in gear to nail these new updates and solidify itself as the center of the 'public text messaging'. What other services out there allow you to message people you aren't friends with or follow their status / news feeds so easily?

Twitter is like a virtual newspaper that shows titles so we can skim over the topics we are interested in.

These updates will be essential to cleaning up all the @ replies that clutter up the 'news aspect' and vice versa will hopefully get the news links out of the chat.

All in all though I think Twitter has the clout to be the leader in public chat. If they fail facebook will continue it's evolution in that direction with Microsoft riding on it's shoulder.

[EdShaz]

People above, you are 3 years too late to call Twitter a fad.
There is staggering evidence (read: reality) to the contrary.

In disbelief,
@Ed

[wqjackson]

Wall Street said that AOL was worth Billions before it puchased Time Warner. Upon the purchase of Time Warner Wall Street than said AOL was worthless.

Wall Street said that the average home value was worth 50 to 70 percent more than what is is today a few years ago. Today we are in the worst recession since the 1930s due to the decline of home values.

Wall Street said that that AIG, Citibank and other Wall Street players were worth Billions of dollars. Today they are worthless.

Twitter isn't worth a Billion today or any time in the near future.

[imprisoncheney]

I've got news for Williams -- ever since the reichwingers adopted Twitter, it's been considered kryptonite by everyone else -- ditto Facebook, Sister Sarah's official network.

No one I know, who's tech-savvy uses either one.

[rf35]

Twitter is a fad. I expect it to either die off in a few years or evolve into something completely different.