I'm short Twitter. The fact of the matter is it that Twitter should never have become a multibillion-dollar company. There is no barrier to entry into this space---any competent web developer could make a non-scaling Twitter in an afternoon---except network effects, and those have proved weak due to poor user experience, particularly for new users.

Twitter should have treated itself like a utility, and focused less on the online advertising race-to-the-bottom that it is sure to lose due to the aforementioned poor user experience and negative sentiment about the platform's future; this announcement is only going to continue to contribute to poor impressions.

The other monetization directions they have played around with---namely selling access to researchers and advertisers, and certifying identities of accounts for celebrities and brands---are a much better fit for the platform, and would have sustained a fast-moving company of 50 hotshot engineers. But the constant pressure to get bigger and bigger has served Twitter poorly. I'm sad to say that I think it will be a ghost town in a few years.