Three Things (June 2nd)

Wednesday, Jun 2nd 2021


“The only interesting answers are those which destroy the questions.” - Susan Sontag

1) Twitter announces local weather news service as a premium option for users

Twitter has launched “Tomorrow”, a local weather news service offering free and paid weather content from expert meteorologists. “Tomorrow” will incorporate Twitter’s new creator products, including paid membership newsletters and ticketed live audio rooms. Twitter has been visibly working towards realizing their monetization potential over the past year, and the launch of “Tomorrow” reveals a clearer picture of how the company intends to enhance and expand existing popular content on the platform to create premium options for users. “Tomorrow” may well be a bellwether.

2) Twitter will test full-screen ads on Fleets, its “Stories” feature

In another bid to monetize, Twitter will test advertisements within Fleets (the platform’s “Stories” feature, where users can post photos and videos that vanish after 24 hours). Taking a page directly from Instagram and Snapchat’s playbook, the move is a strong indicator of Twitter’s ramped-up efforts to generate additional revenue from its vast user base. Fleets is still in its early stages, but we believe Fleets ads could become a respectable revenue stream for Twitter, especially if the company continues to improve its value proposition to content creators across the platform.

3) Coinbase partners with Apple Pay and Google Pay, enabling U.S. customers to use the Coinbase debit card through their digital wallets

Coinbase’s stock price closed +1% on Tuesday, after the company announced its agreement with Apple and Google Pay, allowing Coinbase’s U.S. customers to spend crypto and earn rewards directly through their digital wallets. In many instances, this will make paying with crypto as simple as paying with any other method. As we’ve discussed in the past, we believe that adoption of cryptocurrencies and blockchain protocols will continue to increase, as similar partnerships reduce friction and barriers to entry. We expect this secular trend will grow over the long-term and serve as a tailwind for cryptocurrency valuations.

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