Monday, 30 June 2008

Nate Westheimer of The Silicon Alley Insider has this to say:

Twitter should take full advantage of their messaging platform, user base and user disposition to lead in the P2P mobile payments space, where, despite years of hype, no one has much of a head start.

Link to the article: How Twitter Could Be Worth A Billion In A Year

I have to admit, coming from the Internet financial services space, the thought of this actually happening scares me slightly, given the serious lack of stability and the manner in which changes have been made at Twitter with less than complete communication. But at any rate, they have a lot of money to throw at the problems, so I am rooting for them to get things right. It just hurts. :)

Westheimer makes some good points. Twitter is carrier/provider-agnostic and has amazingly terrific user and market penetration. Just as I send you a direct message today by typing "d yourname hi how are you?" I could pay you using syntax like "p yourname $20."

But getting from here to there is an whole other story. It's far from trivial to create a financial transaction and accounting system, especially one that scales to the sizes required (but it certainly can be done).

It's an appealing and interesting idea and one that warrant some real thought. As someone who comes from the the online banking software, infrastructure and security world, I can see the market need as well as the challenges from many fronts that will face any company that finally jumps fully on-board the micro-payments and mobile-payments train. A number of good, well-funded companies have given it a run before with limited success. It's a complex problem to solve, but it's doable.

It sure sounds like a fun challenge, and there's a massive marketplace out there just waiting for someone to get it right. Note the operative verbiage there - Doing it well is critical to success. The fact is there's no room for "scale later" in this game.

What do you think? Would you pay people via Twitter if you could? Would it be useful to you?



Add/Read: Comments [2]
IT Security | Mobile | Tech
Monday, 30 June 2008 22:06:18 (Pacific Standard Time, UTC-08:00)
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Tuesday, 01 July 2008 23:56:39 (Pacific Standard Time, UTC-08:00)

------------------------------------------------
Dave Winer, father of RSS says “Twitter, as it was conceived, was never meant to live.”

“It’s very possible with better engineering its architecture might have gone on for a few more years, but eventually it would have hit this wall, where there were too many people posting too many twits to too many followers. The scale of the system as conceived rises exponentially.”

So is the end of Twitter getting near? I hope not. Twitter I hope that you are listening and you better start taking things more seriously.
-----------------------------------------------

Here's my two cents.

For instance there are about 100m users of yahoo messenger and usually 2-3 of them talk at a time that means scalability of 300m conversations. On the other hand with 100m twitter users who usually send messages to 100-10,000 other users the scalability required is 10,000m to 10^6m I have never known any current architecture based on webservers to handle such a scale. So according to me Twitter was never meant to live. It is like a concept car that will never see production. Users of twitter don't understand this and they don't care.
They don't know whats happening when the website is down. The sad part is that the best analysts claim that Twitter is a billion dollar company in one year of operations. There is an old saying before the days of when people understood permutation combinations. One peasant asked a king to give him rice equal to the total amount gotten by placing double the number of rice grains on a chess square than the previous square, starting with one rice grain. There are 8x8=64 squares. We seriously need to visit grade 7 mathematics.

I know of only one News/Messaging system that supports around 1 billion users sending messages to all 1 billion users each. Thats a scalability of 10^12m. It is not Web based but rather on a massively scalable serverless P2P architecture based. The team is soft spoken and when I last talked to them I was told that they don't care about money or hype or fame but rather for just the passion of next generation global systems that will stand the test of worldwide use. Its called Mermaid News Mermaid

They have other softwares too but this post is about Twitter and Messaging. Once everyone comprehends basic mathematics that goes behind scalable algorithms they would go past the flashy screen and hype to actually want a system they can trust. To the analysts I would say it is easy to create a business plan, create a hype and raise $20m funding it is far more difficult to create something of use.
Peter Parker
Wednesday, 02 July 2008 00:12:46 (Pacific Standard Time, UTC-08:00)
Mermaid looks interesting. And with a price of Free, it's potentially quite appealing. The requirement for an IPv6 routable address on the Internet to use it across the WAN is a but unfortunate, at least at this point in time (hopefully that will be resolved Internet-wide in the near future). The whole Freenet6 software/service thing is possible, but not something that I'd be likely to recommend. Looks like LAN use doesn't have that requirement.

Thanks for the comment - good info!
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