Obviously, that has changed.
Now that Twitter is more of a mainstream communication channel, Lindzon has figured out the secret to getting past all the noise on Twitter.
By using human curation, StockTwits can serve up relevant social media content to major players like MSN Money.
Lindzon said there are three key aspects that have helped solve the spammy nature of Twitter:
- StockTwits uses humans to curate social media content
- The technology filters out penny stock mentions
- It has house rules that people must follow or else they get kicked out of it.
It's working: there were 63 million impressions of messages viewed yesterday. This is double from a few months ago.
The value in big data, like the sentiment in tweets, is not yet understood, Lindzon said. Just like the value of Twitter as a communication platform was misunderstood in 2008.
"Prices and business models are being made up now because this data is so fresh and interesting and real time. In 2014 people will say wow -- that's not just interesting, that's wicked profitable."
Lindzon has a long history in finance and is most famous for creating Wallstrip, which was purchased by CBS in 2007. When he started using Twitter, he wondered why there wasn't a Yahoo Finance for Twitter. Angel investor Fred Wilson encouraged Lindzon to start it. So Lindzon did.
Disclosure: Lindzon is an investor in Business Insider.
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