Twitters single ownership and failing ads business model is a long held discussion on the Interwebz. There are still serious efforts going on to transfer Twitter into a publicly owned company.
While this is happening, a new alternative is gaining some attraction during the last days. Mastodon is an open source network which is similar to twitter in how it works (apart from the fact it allows 500 characters in one “toot” — yes, they really “toot” instead of “tweet”). Its biggest difference is the fact that it is decentralized. Everyone could run his own server and people can still communicate with each other. So it’s a bit like Email or Jabber in the way it connects people.
To me this is the primary reason why Mastodon will fail: This totally takes the simplicity out of a Social Network. This simplicity is needed to attract a wider audience which itself is needed to make this a success. Otherwise, and that is what I would guess today, Mastodon will be a place for close fans of the platform to geek out and maybe they will be happy with it. But then it will definitely not be an alternative to Twitter. Just like Diaspora isn’t an alternative to Facebook though it still exists.