After months of controversy, Elon Musk is now at the helm of one of the most influential social networks on the planet, which he promises to unlock its “huge potential.”
What changes can we expect for the platform from the billionaire CEO of Tesla and founder of SpaceX?
It was one of Musk’s first decisions The head of Twitter has been fired CEO Parag Agrawal, Chief Financial Officer Ned Segal and Chief Legal Officer Vijaya Jade, according to several US media outlets.
The billionaire businessman will have to find alternatives for them.
“Musk is in the unenviable position of persuading seasoned executives to work with him on a platform he has publicly disparaged,” said Jasmine Enberg, an analyst with Insider Intelligence.
according to bloombergMusk will take on the role of CEO of Twitter, at least initially.
He will have to deal with the relevant personnel. Musk wants to cut the workforce by 75% (or about 5,500 employees), according to The Washington Post.
“The mood at Twitter is tense, and employees are concerned about layoffs,” Enberg said. “Product and even engineering teams may experience change.”
freedom of expression
Musk, who has described himself as a “tyranny of free speech,” said Thursday that he wants to turn Twitter into a “warm and welcoming platform for all” rather than a “free-for-all hellyard.”
He has criticized what he sees as violent content moderation, which he claims leads to censorship of right-wing and far-right voices.
“Experts we spoke with suggested that there are about 600 people at Twitter itself and thousands more with third parties who have worked to moderate the content of the platform,” said Scott Kessler of Thirdbridge.
“Musk has publicly advocated that these actions be driven by algorithms rather than people,” he added.
The Tesla boss also hinted that former US President Donald Trump, who was suspended from the podium after the attack on Capitol Hill in early 2021, might be allowed to return.
Trump wrote on Friday on his private social network, Truth Social, that Twitter is “in good hands.”
One of Musk’s biggest pet peeves is the issue of fake accounts. He threatened to walk away from the deal because of the fake accounts or the “bot”, but did not reveal what he would do to fight it.
‘Unpalatable to advertisers’
Another challenge for Elon Musk is improving the financial health of Twitter, which is facing slow growth and even posted a net loss in the second quarter.
In April, Musk mentioned options for generating more revenue: increasing paid subscriptions, monetizing popular tweets or paying content creators.
In a letter published Thursday, the entrepreneur called on Twitter advertisers to work together to “build something extraordinary,” stressing the importance of welcoming a variety of opinions on the platform.
Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown, noted, “Mr. Musk has indicated in his latest publicity stunt that he wants to throw the kitchen sink at Twitter to attract new users.”
“But he will be very challenged maintaining and building revenue, given that the controversial opinions he seems to want to give more freedom to in this ‘global town hall’ are often unpalatable to advertisers,” she said.
Some civic groups are also calling on major brands to use their influence to prevent Musk from providing a platform for more extreme rhetoric.
“Given that ads account for 90% of Twitter’s revenue, it is clear that the power to hold Musk accountable, should he back down from protecting the platform against harassment, abuse, and misinformation, lies in the hands of Twitter’s top advertisers,” Media Matters for America, argued the nonprofit watchdog group. .