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I think this is the Medium strategy. I think there is a mid size business in it, but one that's hard to defend and will see margins erode with time.

There is absolutely no "moat" in Twitter being a protocol.

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You'd be surprised what happens when you become a hub and start seeing the effects of 3rd party integrations. That aspect can be turned into a moat if managed properly.

I think you are right but there's a time and place for it. I don't think it can save Twitter at this point but could have created a healthy ecosystem if timed well.

But it's very hard to time this well. Even Facebook and their apps ecosystem didn't create enough of a moat.

Well, Facebook's "app ecosystem" was dominated by Zynga. For a long time, Farmville was the top app and it was the only app that Facebook's highest engagement users interacted with. As such, when Zynga went downhill, it took the entire ecosystem with it.

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