The appointment of Peter Chernin to its board of directors represents the latest step in Twitter's ongoing push to become a more traditional media company. But for Dalton Caldwell, founder and CEO of competitor App.net, the move may also represent a significant change in Twitter's core focus. Comparing Twitter's "walled garden" path to that of the ill-fated MySpace, Caldwell explains that the company may be shifting away from its original focus of letting users send short messages, and instead become a place where consuming news and information is the main draw.

"How is Twitter going to pull off their mid-flight pivot, which entails largely redefining what Twitter actually is, not to mention how most people are supposed to use it?" he asks. "Your guess is as good as mine."