He's trying to say that Microsoft refused to embrace the internet because it was something that they had no control over (instead, Microsoft planned to launch t

He's trying to say that Microsoft refused to embrace the internet because it was something that they had no control over (instead, Microsoft planned to launch their own closed online service in 1995 called Marvel), and as a result they fell far behind in the internet space. He goes on to make a comparison to Twitter, and how they are concerned that if they make the service too open, then developers might create something that competes with the service or renders it obsolete. And he's saying that reluctance to embrace the openness of the internet will result in failure in the same manner that it did for Microsoft. (not that I agree with this piece; this is just my interpretation)