YCRFS 3: Things Built on Twitter
ycombinator.com
ycombinator.com
Twitter allows you to:
1. Communicate on equal footing. You're living on someone else's blog, or their social news site, or their subreddit, or their messageboard, or in their chat room. There's no need to shout anyone down with negative karma, because everyone controls their own feed.
2. Control your world. If you stop following someone, they basically cease to exist. On the other hand, they can follow you if they want, with no harm to you. This allows celebrities to share directly in a way they never have before.
3. Stay engaged with minimal time. Tweets are limited to 140 characters for everyone. Writing a blog post requires a commitment and willpower. A tweet is extremely easy.
Despite all of this, Twitter itself is very awkward to use, and making sense of the un-threaded mass is very difficult. It's reaching mass adoption because it can be all things to all people (microblog, chat, rss feed, friend updates, broadcast announcements, etc).
There are better ways out there to facilitate good discussions. Google is trying to tackle the office collaboration problem with Wave, and I think there's huge progress to be made in the space of online discussions, separate from the current plethora of news reaction sites (coughhackernewscough) that we have now. The inevitable rise of self-posts on news sites (it's usually resisted or frowned on at first) shows the existence of this need.
It is more like in real life, where I don't need to ask your permission to listen to what you say.
For background and rationale, see the Birds of a FETHR talk slides & audio:
But maybe calling Twitter a "internet protocol" is a bit of a stretch, even in purely technological terms? Human communication protocol, maybe...
just to paraphrase Stephen Colbert: "The protocol we didn't know we needed until we had it"?
And there're are a bunch of examples of protocols that were initially controlled by single companies. AIM gave us Oscar and TOC. Microsoft gave us SMB. Kazaa gave us FastTrack.
Yeah or any number of pubsub, queue based messaging systems. What twitter has is millions of users all in one place with low barrier to get started and easy access via mobile, web, and API. It has its warts, but so do many popular things (TCP/IP for example), the thing that matters about it is that it is deployed and used heavily and in people's consciousness.
Sure, but the rate of tweets will determine how much processing you can do per tweet given a certain amount of computing power.
I've been trying to figure out Twitter for the last couple of years. Left to the defaults, using twitter.com as the "interface" it seems to be a giant attention-whoring spew of marketeers and SEO "experts".
To me (and I think I said this a long time ago in a post here) the potential as a global distributed message bus always seemed so much more powerful. It's kind of like IRC to the next level.
I'm going to have to think on this. I've been toying around with some Twitter-based thoughts relating to my home automation and video analytics hobby-projects.
Of course you don't want to read it all. That's why you follow people. It pulls their information out of the stream, and makes a substream for you. The same goes with turning on people to mobile: it pulls them out of that stream, and into one even closer to you.
If I am JetBlue (I'm not) and people are ranting or raving about some experience on Delta, can I use that data? Run a promo? Give them a safe haven?
In one respect, Twitter seems like it can be the exposing of the raw conscious of "the public", that group that has been so elusive to marketeers. The trick is to extract the data, to measure the thing, without affecting that which you are measuring. One of the longest standing challenges in science.
I'm rambling, but thinking on iterations of this in my head.
As for JetBlue/Delta, I've bitched about Verizon on Twitter, and within about an hour, had a follow and an @reply from my local division's Twitter account. They then followed up with phone calls, and took care of my problem.
And now I tell you that story, which also furthers their image...
This idea also ties into the "new news" idea a bit. What we've seen from events like #iranelection is that twitter is a good (but could be great) tool for detecting news at the onset of events (before big stations pick up on it), but really starts to get bogged down with "spam" or RT's once a topic gets picked up. I'd like to see news that integrates these abnormal spikes in tweets that hint at a bigger underlying story w/some sort of follow-up with more context about the event.
I remember how exciting it was back in February when I started realizing what it meant to have a real-time messaging protocol. http://www.thinksketchdesign.com/2009/02/25/design/algorithm...
How magical! Imagine all the strange and wonderful things we could do with it - like water our plants automatically! But I'm going to have to guess that twitter has seen its heyday. Twitter has been fueled by the exciting idea of a real-time protocol - and that idea will truly shape the next generation of the internet. But that idea is here now and it's going to outgrow twitter in a hurry. The idea of a real-time protocol is going to be the backbone of the next internet-merged-with-mobile-cellular-satellite-and-wireless-mesh-network revolution. Every device will talk directly to any other device. The ISPs will be the next media giants of this year - scrambling to hold onto their market models as the internet as we know it dissolves into the fabric of the technological landscape powered by open source network communication software and ad-hoc device-to-device mesh networks. Twitter has been a real inspiration, but I just don't see them growing and adapting to be the driving force to carry this revolution. Thanks, twitter, but I'm looking to google wave now as a protocol that has real potential to be the backbone structure for the next-gen internet. Or hey - prove me wrong. It definitely seems like a good move to reach out for fresh ideas at ycombinator.
More on google wave - and annotated video clips that summarize the google wave demo video: http://www.thinksketchdesign.com/2009/06/09/web/media/google...
you take the data out of the hose and run a bunch of "machine learning" over it to figure out what twitterverse is saying about apple. or rather, apple stock.
if you can guess the opening direction the next day better than 50% of the time i'd say you would have some money on your hands.
i kid, i kid...
twitter + sentiment analysis = prediction market; but in most observable cases, we're seeing twitter lag behind the market, not actually predict it. oh well!
Your winners just need to be bigger than your losers.
Average winner profit * winning percent > average losing loss * loss percent.
in any case, check out http://stocktwits.com I think they even have access to the real time feed.
Lets assume Information propagates according to some diffusion model, forward only in time, and after some delay affects the price of a given stock. Twitter is the perfect feed to match against high frequency stock data to measure each stocks sensitivity to particular kinds of news (location, keyword)
So you build a weighted model of what kind of news affects which stocks, and how strongly.. and do algorithmic trading on that statistical arbitrage, and exploit the market not being perfect [thus improving market efficiency].
The engine you get is quite similar to one which acts as a real-time agent looking for twitter activity on topics of interest to you...
But, if an algorithm can find this mispriced asset, and trade to exploit it before a human can, then that should improve the markets efficiency and reduce the arbitrage.. or so it goes.
So you'll have to make your trading decisions based on sentiment or even insider info... Very risky and not very profitable proposition...
Not that twitter is totally useless for trading, but not very useful for HFT uses you describe.
Wonder if people have created facebook apps for the sole purpose of getting access to a lot of users data then on sold that access to others? If that's even possible.
Please have someone make a noise-filtering system!
While some of the aggregate information that can be gleaned form twitter is interesting, I have yet to see anything approaching a single meaningful message.
I know that many people seem to like twitter, but every time I go to the twitter website I leave without experiencing anything interesting. Maybe I'm doing it wrong.
I use Twitter extensively, but I can't say I've gone to the actual Twitter website more than a dozen times. I think the most interesting uses of Twitter involve using Twitter data in other places, like putting a stream on your blog. I think that's where the future of Twitter is. I saw a cool Twitter/Flickr mashup a while back that took a Twitter stream and translated it into pictures, which was cool.
Cool service - I just tried it out on my account. I'm not really sure if I see a huge increase in relevance, although that might be because I follow a lot of random accounts vs. people I actually know. Feedback: I don't like that it's a blackbox and I can't scale/finetune things to adjust the filter. What gets filtered out should be transparent if you want people to rely on that service.
Also you have to define noise, and why are you getting it anyway?
There was one available for download, but it seems Twitter pulled it: http://blog.infochimps.org/2008/12/29/massive-scrape-of-twit...
http://twitter.com/#search?q=i+love+apples
All people will simply STOP using twitter.
I used to be on Twitter often, and so were many people in my small city. Now, if I go back, about 2 or three people I followed post to twitter every couple of weeks (if at all) where there used to be about 30. They all just stopped.
It's like ANY new toy. You play with it for a few weeks right after Christmas, but then, it just ends up in the toy box and is never played with again.