Elon Musk’s plans could be a good thing for your small business. Also, HR platform Fringe gets more funding and Walmart may be entering the banking business.
Here are five things in technology that happened this past week and how they affect your business. Did you miss them?
1 – Twitter is planning to big changes.
Though not confirmed, Twitter plans to begin charging users $8 per month for paid verification. The goal of the change is to turn Twitter’s optional, monthly $4.99 subscription into a pricier subscription that verifies users as well. These are just a few of the many changes now-owner Elon Musk is planning in the months to come, including enhanced content moderation and a move towards a more subscription-based model for all users. (Source: BBC News)
Why this is important for your business:
Millions of entrepreneurs and small business owners use Twitter around the world and many of us have been watching recent events closely as Elon Musk has assumed ownership. Musk has been cleaning house and working on new policies for content moderation and revenue streams. It’s obvious that his move to a more subscription-based model and away from advertisers that could get jumpy at the “free speech” changes is needed to boost the company’s revenue streams while still allow its community to have their say. There are also rumors he’ll turn the platform into a “super app” like China’s WeChat that can support mobile payments, banking and communications. If your business uses Twitter expect to see a drop in followers as bots are erased. Also expect to pay to play. But if Musk succeeds in turning the platform into a better place for conversations and news then these changes could increase credibility and in turn make Twitter a better place for free speech and free markets.
2 – Shopify acquired Remix to bolster its storefront design tools.
Shopify recently acquired developer tools platform Remix in an effort to enhance its tools for storefront design.
