So… Crypto is down — driven mostly Beijing’s Crackdown and Elon Musk’s Tweets. Anyone hoping for a huge correction. Now is the time? Let me know what you think.
Speaking of going down. Lockdowns and Pandemics are hell on the mobility industry. The fall can be seen in daily usage.
While reach for the larger players remained relatively static; it went down for the smaller companies.
We started out with everyone wanting / needing to own a car to Uber convincing us there was no real point in owning a car and now we’re back to needing to own a car. Ordinarily good news for the auto industry — except maybe not this quarter or the next. While the world limps back to its feet after waves of covid — we find ourselves back in the middle of it — wondering if we could weather another storm.
And throughout, social media has played a huge role in helping people arrange medicines, hospital beds and even funerals. As a result of the Pandemic — Apps like Twitter, Instagram and Facebook has seen a surge — not just in the number of people using the platform but also how long they use it for.
An increase of 4% in users or a few minutes in engagement may not seem like much but it is. Specially when you think about how many millions of users that is for each platform.
Maybe there is an argument to be made for a local Indian version of Twitter (koo) — I personally think it’s hard to pull off in the absence of government intervention (think TikTok) but this is an example of why I believe its next to impossible. Where it counts — platforms like Twitter, Instagram, Facebook — have all the advantages — great features etc sure but most of all — they have network effects. And even in India, its hard to put the genie back in the bottle.
Thanks for your time — hope you’re all safe & healthy,
- Aman
aman@kalagato.co
www.kalagato.co
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