Twitter said social media organizations were facing a “huge lack of trust” and promised to make its content rating practices transparent, giving people control over it as it strives to be among the most open companies in the world.
Twitter chief executive Jack Dorsey said the microblogging platform made great strides in its response “with our mistakes and corrections, and honesty in terms of published principles and unwavering”.
He told the analysts that they lack transparency and that they give people the opportunity to make their own choices.
Dorsey said Twitter aims to make its content exploratory practices more transparent, empower people more in control of their communications, empower market forces to understand innovation, and support open media platforms.
“… We acknowledge that many people do not trust us. This has never been more significant than in previous years … And we are not alone: every institution faces a serious problem of trust,” he said.
Focusing on metrics such as transparency, accountability, honesty and choice will have a big impact, Dorsey said.
This comment comes at a time when issues ranging from provocative posts to false information and from data breaches to privacy issues have put social media companies like Twitter, Facebook and WhatsApp on fire lines in India, and other markets.
On Thursday, India announced rules sweeping social media firms and OTT players (above) that require them to remove any flammable content marked by the authorities within 36 hours and establish a grievance redressal mechanism by a South African-based official.
The guidelines had also make it necessary for the forums such as Twitter and WhatsApp so that to identify the originator of the message that the authorities consider to be anti-national and also the anti-security and sovereignty.
The practice on social media comes weeks after a dispute arose between the government and Twitter over certain messages surrounding farmers’ protests that the government saw inciting violence. The government demanded the removal of about 1,500 accounts and messages, a request followed by Twitter, only after being warned of punitive measures.
While the company does not disclose country-specific user numbers, government data lays the foundation for microblogging speaker users at 1.75 crore.
Dorsey also talked about working on the duplication of velocity of Twitter development in late 2023, which led to a duplication of a number of features per function directly driven by mDAU (daily active users) or revenue.
He added saying that they have a target of at least 315 million mDAU in the fourth quarter of 2023, which requires continuous continuous growth of about 20 percent per annum from the 152 million mDAU base reported in the fourth quarter of the year 2019.
The company also aims to double its total annual revenue to more than $ 7.5 billion by 2023.
Dorsey said that this requires us to gain market share through performance ads, also to increase product advertising, and expand their products to small and medium-sized businesses around the world.