Elon Musk Owns Twitter Now –> What’s Subsequent?
CBC Information | Oct 27, 2022
Picture: Manu Cornet
Dismissal of firm’s CEO, CFO amongst his first strikes and what occurs subsequent is anybody’s guess
- Management fired: Elon Musk accomplished his $44-billion US acquisition of Twitter late on Thursday. Inside hours, he had fired CEO Parag Agrawal, head of authorized Vijaya Gadde, chief monetary officer Ned Segal and others. Agrawal and Segal had been in Twitter’s San Francisco headquarters when the deal closed and had been escorted out of the constructing. Studies recommend Musk has put in himself as CEO, however he has but to verify that.
- Inventory to be delisted though there may be hypothesis that Musk plans to ultimately resell the corporate sooner or later and make it public once more.
See: 11 C’s of Mushy Management and Emotional Intelligence
- “Workers are already fearful about huge layoffs.”A report this week advised he deliberate to fireside three quarters of the corporate’s 7,500 employees.
- In an open letter to customers and advertisers Thursday, Musk mentioned he purchased the corporate as a result of “it’s necessary to the way forward for civilization to have a typical digital city sq., the place a variety of beliefs might be debated in a wholesome method, with out resorting to violence. However Twitter clearly can’t change into a free-for-all hellscape, the place something might be mentioned with out penalties”.
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Vox |
Musk has tweeted a whole lot of concepts about how he plans to vary Twitter. Listed below are among the most vital ones.
- Musk-Twitter Saga simply getting began: After greater than six months of one of the vital chaotic, high-profile enterprise negotiations in current reminiscence, it’s lastly actual: Elon Musk, the richest particular person on this planet, is accountable for Twitter. Twitter gained’t have to attend in limbo any longer as an orphaned tech firm pleading for somebody to take possession. It additionally gained’t need to cope with Musk’s public shitposting directed on the firm’s management. (Musk tweeting a poop emoji at Agrawal could go down as one of the vital juvenile government insults of all time.)
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- Enterprise problem: tips on how to successfully run a social media platform that’s utilized by almost 400 million individuals — together with extremely influential world leaders, journalists, and different public figures — and cope with the political speech moderation points that include that. Musk additionally wants to determine a greater enterprise mannequin for the corporate.
- Twitter has by no means made almost as a lot cash as its social media opponents like Fb and YouTube
- Together with different main tech corporations, it has additionally seen a significant decline in its inventory worth up to now 12 months.
- In response to a current report in Reuters, the service’s most energetic and profitable customers have been leaving in droves because the pandemic.
- Make Twitter a “free speech” platform. “I believe it’s important to have free speech and to have the ability to talk freely,” mentioned Musk at a Twitter worker assembly in June that Vox obtained a recording of.
- The current proliferation of “free speech”-themed platforms like Parler, Reality Social, and Gettr have proven that should you let anybody say no matter they need on a social media app, there’s a very good likelihood that app may change into a hate-filled, poisonous place — which is why even these comparatively extra lax platforms have some fundamental content material moderation insurance policies.
See: Rise of the tremendous app
- Deliver again Trump: Musk has mentioned he would reinstate former President Donald Trump’s Twitter account, which was banned for his tweets concerning the January 6, 2021, Capitol riot. “I believe that was a mistake as a result of it alienated a big a part of the nation and didn’t finally lead to Donald Trump not having a voice,” Musk instructed the Monetary Instances in Could. “Banning Trump from Twitter didn’t finish Trump’s voice. It should amplify it among the many proper, and that’s the reason it’s morally fallacious and flat-out silly.”
- Get Rid of Bots: Musk has promised to repair Twitter’s “bots” challenge — which means the prevalence of accounts that submit spam or inauthentic content material like crypto get-rich-quick-schemes and phishing scams.
- Superapp referred to as ‘X’: Musk had mentioned that he needs to satisfy Twitter’s potential by making it way more than a social media app: turning it right into a “superapp.” The unique superapp is China’s WeChat, which individuals use to do the whole lot from paying their payments to ordering takeout to messaging their pals.
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