Twitter's new advertising tool will turn it into a dystopian nightmare

...just like it did to Facebook.

It begins harmlessly enough. You're chatting to a friend, a neighbour perhaps, over the garden fence. The conversation turns to her upcoming wedding. What would she like for a present?

Suddenly a giant box of toasters falls from the sky, landing with a crunch between you. You can no longer see your friend. You start to scramble over the debris, the crushed cat, to find her - is she ok? - but then something small and hard hits you right in the eye. You pick it up: it's a diamond ring. Then another hits you in the back of the head. You're under attack!

You start to run, leaping over fences and through conservatories, but you know you're being chased. Hunted. A guy pops out from behind a tree with a megawatt smile: "Looking to buy some trainers?"

"Get away!" you scream, desperately weaving round him.

"Get away from it all!" a voice from nowhere booms in your ear.

You jump. Where the hell is it coming from? Is it IN YOUR HEAD? You hear it again, ingratiating now, soft, a warm current in the frosty air. 

"A Thompson holiday is only a click away."

And so it begins. Twitter is getting a new API, or “application-programming interface”, a technology which will make it easier for advertisers to reach the right customers. In other words Twitter is getting what Facebook got back in 2010. Advertisers will be able to access information you release in the course of social interaction, and use it to sell you things.

This makes sense for Twitter, for now. It has a great product, (after all, all decisions have hitherto be made with customer experience in mind) and now it wants to make some proper money.

Here's the FT on the financial benefits of the move:

A similar technology launched by Facebook in 2010 helped that social network reach more than $3bn in revenues the following year, with analysts estimating the system currently generates roughly 60 per cent of the company’s revenues.

eMarketer estimates that with the new venture Twitter's revenue will grow 90 per cent this year to $545m, and that  it will earn over than $800m next year in global ad revenue.

But what of the product itself? Twitter spokespeople insist the user experience will be uninterrupted "in the short term" - users may not see that many more ads - but that's not the whole point. The really damaging aspect of the new advertising development, I'd argue, is that it'll allow ad companies to "target" their marketing.

"Because we have a robust listening solution and engagement solution, we can listen to what people are saying [on Twitter about a brand] and engage with them and take any of their tweets and promote them," s Salesforce Marketing Cloud's  Michael Lazerow told ADweek.

But social media sites are a great deal about trust - you are downloading a large amount of subtle personal information (you can't help it, you're socialising) - and it's an uneasy feeling that cynical sharks are circling, trying to make money out of it.

You get too much of this on twitter anyway. Tabloid journalists haunt the edges, looking for someone famous to make a a false step which they can use out of context. Now imagine what would happen if everyone's witterings were that lucrative.

But we don't really have to imagine - we have Facebook. Since its 2010 marketing drive the site has been haemorraging users (it lost more than $50bn after last year's stockmarket crash), and those still on it squirrel away that valuable personal information, using it mostly to arrange social events via private messaging.

So what today's Twitter news really means is that another great social networking site has peaked and is on the way down. Plus ça change.

Looks so innocent. Photograph: Getty Images

Martha Gill writes the weekly Irrational Animals column. You can follow her on Twitter here: @Martha_Gill.

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In your 30s? You missed out on £26,000 and you're not even protesting

The 1980s kids seem resigned to their fate - for now. 

Imagine you’re in your thirties, and you’re renting in a shared house, on roughly the same pay you earned five years ago. Now imagine you have a friend, also in their thirties. This friend owns their own home, gets pay rises every year and has a more generous pension to beat. In fact, they are twice as rich as you. 

When you try to talk about how worried you are about your financial situation, the friend shrugs and says: “I was in that situation too.”

Un-friend, right? But this is, in fact, reality. A study from the Institute for Fiscal Studies found that Brits in their early thirties have a median wealth of £27,000. But ten years ago, a thirty something had £53,000. In other words, that unbearable friend is just someone exactly the same as you, who is now in their forties. 

Not only do Brits born in the early 1980s have half the wealth they would have had if they were born in the 1970s, but they are the first generation to be in this position since World War II.  According to the IFS study, each cohort has got progressively richer. But then, just as the 1980s kids were reaching adulthood, a couple of things happened at once.

House prices raced ahead of wages. Employers made pensions less generous. And, at the crucial point that the 1980s kids were finding their feet in the jobs market, the recession struck. The 1980s kids didn’t manage to buy homes in time to take advantage of low mortgage rates. Instead, they are stuck paying increasing amounts of rent. 

If the wealth distribution between someone in their 30s and someone in their 40s is stark, this is only the starting point in intergenerational inequality. The IFS expects pensioners’ incomes to race ahead of workers in the coming decade. 

So why, given this unprecedented reversal in fortunes, are Brits in their early thirties not marching in the streets? Why are they not burning tyres outside the Treasury while shouting: “Give us out £26k back?” 

The obvious fact that no one is going to be protesting their granny’s good fortune aside, it seems one reason for the 1980s kids’ resignation is they are still in denial. One thirty something wrote to The Staggers that the idea of being able to buy a house had become too abstract to worry about. Instead:

“You just try and get through this month and then worry about next month, which is probably self-defeating, but I think it's quite tough to get in the mindset that you're going to put something by so maybe in 10 years you can buy a shoebox a two-hour train ride from where you actually want to be.”

Another reflected that “people keep saying ‘something will turn up’”.

The Staggers turned to our resident thirty something, Yo Zushi, for his thoughts. He agreed with the IFS analysis that the recession mattered:

"We were spoiled by an artificially inflated balloon of cheap credit and growing up was something you did… later. Then the crash came in 2007-2008, and it became something we couldn’t afford to do. 

I would have got round to becoming comfortably off, I tell myself, had I been given another ten years of amoral capitalist boom to do so. Many of those who were born in the early 1970s drifted along, took a nap and woke up in possession of a house, all mod cons and a decent-paying job. But we slightly younger Gen X-ers followed in their slipstream and somehow fell off the edge. Oh well. "

Will the inertia of the1980s kids last? Perhaps – but Zushi sees in the support for Jeremy Corbyn, a swell of feeling at last. “Our lack of access to the life we were promised in our teens has woken many of us up to why things suck. That’s a good thing. 

“And now we have Corbyn to help sort it all out. That’s not meant sarcastically – I really think he’ll do it.”