The Benefits and Risks of Being a Contrarian in Business

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by M LeMont


The Benefits and Risks of Being a Contrarian in Business

Why Elon Musk has a chance to turn Twitter around.


In a world that is saturated with businesses trying to capture customers' attention and make a profit, standing out from the crowd is crucial.

Being unique is one of the best ways to set your business apart and make a lasting impression on potential customers.

An effective strategy is to adopt a contrarian approach. This blog post will examine the reasons why being a contrarian creates a stunning uniqueness factor in business and how it can help your company stand out.

Contrarianism is the act of going against the prevailing trends, opinions, and attitudes.

It means taking an unconventional approach, doing things differently, and not following the norm.

In the business world, this can mean taking a different approach to marketing, product development, customer service, or any other aspect of the business.

By doing so, companies can separate themselves from their competitors and create a unique selling point. In a flooded market businesses are vying for the same eyeballs.

* Another benefit is that it can lead to increased innovation.

When companies go against the norm, they are more likely to think outside the box and come up with creative solutions to problems.

This can lead to new and innovative products and services, which can give companies a competitive edge.

* Being contrarian can also increase customer engagement.

When companies do things differently, they can create a unique and memorable experience for customers, companies can create a strong emotional connection with them, which can lead to increased customer engagement and repeat business.

* Another advantage is when companies go against the norm, they are sending a clear message that they are not like everyone else and that they are willing to take risks and be different.

This can help to establish a strong brand identity, which can help companies to attract customers who are looking for something different.

* Double-edged sword-- but being a contrarian in business can also lead to criticism and backlash, especially if the contrarian ideas challenge widely held beliefs or threaten established interests.

Take, for example, John Yudkin, a scientist whose findings should have earned him widespread recognition, have been largely forgotten by the world. Despite the prevailing trends of the time, in 1972 Yudkin published his book "Pure, White and Deadly" where he argued that sugar, not fat, was the root cause of the obesity epidemic.

He wrote, "If the same evidence about the harmful effects of sugar were found in relation to any other food additive, it would immediately be banned."

Although the book was a commercial success, Yudkin's career suffered as prominent nutritionists launched scathing attacks and the food industry effectively silenced him.

Sadly, he passed away in 1995, disillusioned and unrecognized. The journey towards championing unconventional ideas can be difficult and often lead to disappointment.

Being a contrarian means challenging prevailing beliefs and going against the norm, which often requires bravery and perseverance. Like Yudkin, Galileo Galilei, and other trailblazers, they often faced opposition and persecution for their unorthodox ideas.

It is worth mentioning that not all contrarian viewpoints hold the same level of validity and some may even be misinformed or erroneous.

It's also important to distinguish between true contrarians and those who are simply trying to be different for the sake of being different. The latter may not have any real convictions or arguments to back up their views.

* The real value of being a contrarian is to encourage fresh perspectives and challenge the status quo. By considering alternative viewpoints, we can broaden our understanding and find new solutions to problems.

So, while it can be difficult and even painful at times, being a contrarian is an important part of advancing knowledge and making progress.

It can sometimes give you a significant advantage, and in other cases, it can set you so far apart from the competition that they don't even try to keep pace.

For example, the controversy surrounding the $44 billion purchase by Elon Musk has caused some users to flee the company to God knows where and have virtually given up, not looking at where they could be if the company succeeds. And some are so angry like Nilay Patel, who wrote an article titled,

Welcome to Hell, Elon. You break it you buy it.

"You fucked up real good, kiddo.

Twitter is a disaster clown car company that is successful despite itself, and there is no possible way to grow users and revenue without making a series of enormous compromises that will ultimately destroy your reputation and possibly cause grievous damage to your other companies.

I say this with utter confidence because the problems with Twitter are not engineering problems. They are political problems. Twitter, the company, makes very little interesting technology; the tech stack is not the valuable asset. The asset is the user base: hopelessly addicted politicians, reporters, celebrities, and other people who should know better but keep posting anyway. You! You, Elon Musk, are addicted to Twitter. You’re the asset. You just bought yourself for $44 billion dollars." And after a lengthy tirade, Patel finished by saying, "Anyhow, welcome to hell. This was your idea."

But wait not so fast.

Despite Elon Musk's woes and what some people think of him, he isn't burning in hell yet. I'm not a betting man but I'm betting $8 (Twitter Blue) that he has a chance to turn the company around because desperate situations call for desperate actions and can lead to discovering something big. And Elon is a classic contrarian who goes against the grain. He has already made significant changes that old Twitter would never dare do.

Elon Musk Makes Announcements

* Twitter Blue Subscription $8. Members are given more tweet exposure and benefits. Twitter Blue introduces 4,000-character tweets, long essays.

* Twitter will share ad revenue with creators for ads that appear in their reply threads. To be eligible, the account must be a subscriber to Twitter Blue Verified.

* Major Twitter improvement we just released is that you can now bookmark tweets from the tweet details page. Bookmark folders are available to Twitter Blue subscribers.

* Twitter is rolling out View Count, so you can see how many times a tweet has been seen! This is normal for video. Views show how much more alive Twitter is than it may seem, as over 90% of Twitter users read, but don’t tweet, reply or like, as those are public actions.

* Twitter has removed the ability to see which device a tweet comes from. (Twitter for iPhone, Twitter for Android)”

* Twitter changes the default algorithm easy to change. The update will remember whether you were on For You (ie recommended), Following, or list you made & stop switching you back to recommended tweets.”

And like I said, I got $8 riding on Elon Musk. That he can turn the company around.

In conclusion, if you want your business to stand out and make a lasting impression on potential customers, consider being contrarian and doing things differently.

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