With his recent interest in Twitter (TWTR) ownership, Elon Musk certainly has his sights set on the future of the platform, far beyond its market cap value. In this Motley Fool Live segment from "The Virtual Opportunities Show," recorded on April 5, Fool.com contributors Travis Hoium and Demitri Kalogeropoulos discuss the relevance of the platform as the digital landscape continues to change.
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Travis Hoium: But I think this is really a interesting company in the current landscape when you think about all these things being built, how do you communicate with buyers and sellers? We're not, we're not talking about the metaverse, at least on the bleeding edge of it, on Google or on Facebook. The conversation is happening on Twitter. They're adding tools that are really interesting. You can verify your profile picture if it's an NFT. That's a step in that direction and not toward cryptocurrency. And they've also added these communities recently where you can have discussions with, I think it's up to 75 people or so. I think we're just going to see more and more conversation move to Twitter.
Right now, we have like our own Twitter bubbles. You might be in fintech, you might be in NFT Twitter. But now we're going to actually separate them off. If you're part of a project or part of a metaverse, you're in the robots community and you like a certain game, those conversations are going to happen on Twitter and I think this is the kind of social network that's really almost inadvertently built for the future, and everything that we're building in the digital world right now. Maybe that's the meta play that Elon Musk was making. That he sees these things happening or he's manifesting them himself. He's an example of how Twitter is much more powerful in the world than its market cap is, than its evaluation to investors is.
If a company like that can actually figure out a way to generate value for investors as a company in the way that it's actually valued in the world. I mean, if anything happens, the first place you go is Twitter. I think it's just a really interesting company to follow as it morphs in the future. I think Jack Dorsey leaving was actually probably a positive for the company. I think that the infrastructure for growth was there for it but if there was a lot of fundamental changes that needed to happen. Those are maybe starting to be made and maybe we'll get even more now that Musk is on the board. [Ultimately, Elon Musk opted not to join Twitter's board.]
Demitri Kalogeropoulos: Really interesting. I just check the stock price, yeah, it's up about 30 percent in the last couple of days, but it's still only up about 17 percent for the year so far, well, yeah, so far in 2022.
Travis Hoium: But has outperformed Facebook by a pretty wide margin in the last five years, I think it is. That's just an interesting and crazy stat too.