"Refocus the company to be the Netflix of live TV, focusing on the delivery of live sports and news broadcasts while enabling fans/viewers to discuss in real time." I didn't feel like their experiments in live broadcasting NFL games drew a large audience last year. I think twitter offers sports fans a solid mobile experience(checking real-time reactions from other athletes and sports fans) while watching the game on a big screen HDTV. The biggest sports and political events are also social in nature, most of the time you're watching in a group of people. How do you get a group of people to watch a sports/political event on twitter and discuss in real-time? I agree that Twitter's modern day utility lies here but the switching costs for the user have to be reduced.
"How do you get a group of people to watch a sports/political event on twitter and discuss in real-time?" Via friend lists. If all your friends are watching the game and tweeting at the same time then you are discussing the game with them
"the switching costs for the user have to be reduced" The rise of smart TVs with apps will lead to ever easier delivery of streamed programming to traditional mediums such as TV, while also opening new viewing experiences on mobile, tablet and computer.