Union Square Ventures motivate their investment in Twitter

Union Square Ventures were one of the participants in a newly completed round of financing of Twitter. They’re motivating their participating in an interesting article:

There is something really powerful about public, asynchronous text communications where a reply is not expected. A great example is blogging. You blog something and it’s out there on the Internet for public consumption. Others read it and they either comment or create their own blog post in reaction. Collectively, we engage in a discussion.
The asynchronous aspect of blogging is critical because “real time” conversations such as conference calls don’t scale past something like 20 people. Keeping the communication public is equally vital. When anything is made totally public with no limitations on who can participate, you create an open market for ideas, thoughts, and opinions.

Blogs and microblogging tools like Twitter and Jaiku are examples of how the Internet has created a wholly new form of communication that, by virtue of being asynchronous, allows dozens or hundreds of individuals to participate in a huge conversation without geographical limitations. It’s a possibility that’s not existed at any point earlier in world history.
Blogs and microblogs will keep evolving and remain an important feature of the online world for the foreseeable future. Having millions of people participating on equal terms in a conversation the size of the current blogosphere is something unique and as far from a passing fad as you could possibly go.

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