Elon Musk is now Twitter’s new boss.This is what he can change – Flying Journals


Elon Musk is now Twitter's new boss.This is what he can change

Elon Musk wants to turn Twitter into a platform that “warmly welcomes everyone.”

San Francisco:

After months of controversy, Elon Musk, now the head of one of the most influential social networks on the planet, has promised to unleash its “enormous potential.”

What changes can we expect from Tesla’s billionaire CEO and SpaceX’s founder to the platform?

– New boss –

According to multiple US media reports, Musk’s first decision was to fire Twitter CEO Parag Agrawal, CFO Ned Siegel and head of legal affairs Vijaya Gard.

The billionaire entrepreneur will have to find alternatives for them.

“Musk is in an enviable position to persuade seasoned executives to work for him on a platform he publicly disparages,” said Insider Intelligence analyst Jasmine Enberg.

According to Bloomberg, Musk will serve as Twitter’s CEO at least initially.

He will have to deal with the employees concerned. According to The Washington Post, Musk wants to cut 75% of his workforce (or about 5,500 employees).

“The atmosphere at Twitter is tense and employees are worried about layoffs,” Enberg said. “Product and even engineering teams could face restructuring.”

– Freedom of speech –

Musk, a self-described “free speech absolutist,” said Thursday that he wants to turn Twitter into a platform that “warmly welcomes everyone” rather than “a hellscape where everyone is free to choose.”

He criticized what he sees as radical content moderation, which he believes leads to censorship of right-wing and far-right voices.

“Experts we’ve spoken to suggest that Twitter itself has about 600 people, with thousands more working with third-party affiliates to moderate content on the platform,” said Third Bridge’s Scott Kessler.

“Musk has publicly argued that these actions are driven by algorithms, not people,” he added.

The Tesla boss further hinted that former U.S. President Donald Trump, who was suspended following the Capitol Hill attack in early 2021, may be allowed to return.

Trump wrote on his own social network, Truth Social, on Friday that Twitter is “in good hands.”

One of Musk’s other annoyances is the issue of fake accounts. He threatened to pull out of the trade over fake or “robot” accounts, but did not say what steps he would take to fight them.

– ‘Advertisers don’t like it’ –

Another challenge for Elon Musk is improving Twitter’s financials, which has faced 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 the spread of 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 broad and diverse range of opinions on the platform.

Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown, noted: “In his latest publicity stunt, Mr. Musk said he wanted to throw a kitchen sink on Twitter to attract new users.”

“But he will face a huge challenge of maintaining and growing his revenue, as he seems to want more freedom in this ‘global town hall’ for controversial opinions, often to the detriment of advertisers,” she said.

Some civic groups are also calling on brands to use their influence to prevent Musk from providing a platform for the most radical speeches.

“Considering that advertising reportedly accounts for 90% of Twitter’s revenue, it’s clear that if Musk withdraws the platform’s protections against harassment, abuse, and misinformation, the power to hold Musk accountable lies with Twitter’s top advertisers,” the outlet said. Affairs for America, a nonprofit watchdog group, argued.

(Apart from the title, this story was unedited by NDTV staff and was posted from a syndicated feed.)

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