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@Velocio
It will change the instant messaging model, as it is a clear winner as a replacement to SMS messaging when data plans on phones become bog standard.
SMS = expensive, limited, broadcast to specific people only.
Twitter = cheap, feature rich, publish to anyone interested.
If that happens then the impact on telephone companies is huge as a sizeable chunk of money comes from charging a lot for very little (SMS charges are in real-terms virtually non-existant, yet they charge anything from a few pence to almost a pound depending on lots of arbitrary criteria).
The real question is how will twitter make money? It's the big question around twitter that hasn't really been answered (they're not yet making a profit and until they do it's hard to say that what they're trying is really viable long-term).