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President-elect Donald Trump addresses his Victory Night party on Tuesday, Nov. 8, 2016 in New York's Manhattan borough. Trump defeated Democratic nominee Hillary Clinton in the contest for president of the United States. - Chelsea Matiash for TIME
President-elect Donald Trump addresses his Victory Night party on Tuesday, Nov. 8, 2016 in New York's Manhattan borough. Trump defeated Democratic nominee Hillary Clinton in the contest for president of the United States.Chelsea Matiash for TIME
More than 75 million election-related tweets were sent as of Wednesday morning, USA Today reported, smashing Twitter's record set in 2012 of more than 31 million total tweets sent.
It's undeniable Twitter played a significant role in the election, from Clinton urging Trump to "delete your account," to Trump's bizarre late-night rants about former Miss Universe Alicia Machado. Even as late as Election Day, memes like Trump giving his wide Melania the side-eye at the ballot Tuesday spread quickly. But what makes it the place that people turn to on possibly the most momentous night in four years?
In Japan, traders working a foreign exchange desk watch U.S. election results. The Nikkei index fell more than 900 points as Trump's win became real. Toru Hanai—ReutersThe Philippine Stock exchange fell to a 7-month low on Trump’s win. In this photo, a Filipino trader looks at the electronic board showing a downward trend during trading at the Philippine Stock Exchange at the financial district of Makati, south of Manila, Philippines, Wednesday, Nov. 9, 2016. Aaron Favila—APPedestrians look at an electronic stock board displaying the Nikkei Stock Average outside a securities firm in Tokyo on Nov. 9, 2016. The yen strengthened against the U.S. dollar, which will make it more difficult for Japan to fight off its ongoing inflation problem. Tomohiro Ohsumi—Bloomberg via Getty ImagesAs news that Clinton lost major battleground states was confirmed, billions were wiped from Australian Securities Exchange, as it was described as "a sea of red." David Gray—ReutersOne of Trump's biggest campaign promises has been to crack down on the Chinese government, who Trump says weakens the value of China's renminbi, giving it an unfair advantage in world trade. The Chinese currency rallied as the U.S. dollar's value fell following Trump's win. Wang Zhao—AFP/Getty ImagesAsian markets were up and running during the wee hours of the morning in the U.S., when Trump's gain on electoral college votes surpassed Clinton's. Hong Kong’s Hang Seng index fell to 2.6%. Isaac Lawrence—AFP/Getty ImagesGulf State markets -- such as the Qatar Stock Exchange being monitored by a trader shown here -- fell after news of the Trump victory. These markets are heavily exposed to changes in the oil market, and Trump has promised to make America an even bigger fuel and oil producer. Naseem—ReutersA trader watches Trump on TV as Dubai’s stock market falls. The one upside for traders there? The U.S. doesn't do much trade with countries like Dubai, so Trump's protectionist trade policies may not impact them directly. Ashraf Mohammad Mohammad Alam—ReutersIn Germany, the DAX exchange fell 3% after trading began, following news of Trump's victory. Michael Probst—APTraders on the floor at ETX Capital in London watched as Trump was elected. The UK markets suffered huge losses in June, after their own surprise Brexit referendum results sent stocks into a tailspin. Chris Ratcliffe—Bloomberg via Getty ImagesA man looks at a screen displaying news of markets update inside the Bombay Stock Exchange (BSE) building in Mumbai, India, November 9, 2016. Danish Siddiqui—Reuters
"Twitter is still the platform for what’s happening right now," analyst Jan Dawson told USA Today. "On Facebook you’re mostly seeing content your own friends have shared, whereas on Twitter you can see anything from anyone."
However, Twitter's election night success comes in the wake of its decision to cut 9% of its workforce and shut down its video-streaming app Vine. Twitter was also criticized for the rise in hate speech and misinformation that came with the election.
Twitter has struggled to keep pace with other social networks like Facebook, which saw more than 115 million people discussing the election Tuesday night. Twitter has 317 million users, with stagnant growth. As my colleague Taylor Tepper noted earlier this year:
The company’s “current strategy is adequate to retain users, but inadequate to attract new ones,” says Wedbush’s [analyst Michael] Pachter.
