Twitter Becomes An Enemy Of Big Business

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
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twitterTwitter has a lot of people posing as someone they are not, a problem that plagues larger social networks MySpace and Facebook. The trend with Twitter is becoming a significant problem for big corporations.

According toThe Wall Street Journal, “Exxon Mobil Corp. (XOM) has found at least two unauthorized Twitter accounts under variations of its name.” The accounts were not used to create bad PR for Exxon, but as other people take the names of companies and can potentially create false impressions, large businesses may begin to look at Twitter as an enemy, which will not help its chances of making money as a marketing media.

The Twitter fake account issue gets to the heart of why marketers are reluctant to use Facebook, MySpace and other websites in the social media category for advertising their products and services. They cannot tell who visits social networks and who may use their presence to attack or vilify companies. Unlike traditional online media which does not allow a ready way for people to publicly communicate about advertisers and their messages, social networks and the chaos that is a part of the interactions of millions of their members represent a nearly perfect environment for critics to trap an unwitting firm by bombarding it with negative reactions.

The inability of the social networks to readily identify and regulate their members may be what keeps them from being viable businesses. Anonymity and a community with huge pools of visitors create excellent opportunities for people who want to turn public opinion against big businesses.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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