After months of controversy, Elon Musk is now on the head of one of the influential social networks on the planet, whose “super potential” he has promised to unleash.
What adjustments can we count on for the platform from the multi-billionaire chief government of Tesla and founding father of SpaceX?
One in every of Musk’s first selections was to sack Twitter chief government Parag Agrawal, chief monetary officer Ned Segal and head of authorized affairs Vijaya Gadde, based on a number of US media retailers.
The billionaire entrepreneur should discover replacements for them.
“Musk is within the unenviable place of convincing seasoned executives to work for him at a platform that he has publicly disparaged,” mentioned Jasmine Enberg, an analyst for Insider Intelligence.
In line with Bloomberg, Musk will assume the position of CEO of Twitter, not less than initially.
He’ll need to cope with involved workers. Musk needs to chop the workforce by 75% (or about 5,500 workers), based on the Washington Publish.
“The temper at Twitter is tense, with workers fearful about layoffs,” mentioned Enberg. “Product and even engineering groups might face a shakeup.”
Freedom of speech
A self-described “free speech absolutist,” Musk mentioned on Thursday that he needs to show Twitter right into a platform that’s “heat and welcoming to all” and never a “free-for-all hellscape.”
He has criticized what he sees as aggressive content material moderation, which he contends leads to the censorship of proper and far-right voices.
“Consultants we have spoken with have prompt round 600 folks at Twitter itself and 1000’s extra with third-party affiliations have labored on platform content material moderation,” mentioned Scott Kessler of Third Bridge.
“Musk has publicly advocated for these actions to be pushed by algorithms as a substitute of individuals,” he added.
The Tesla boss additional hinted that former US president Donald Trump, who was suspended from the platform after the assault on Capitol Hill in early 2021, is likely to be allowed to return.
Trump wrote on Friday on his personal social community Reality Social that Twitter is “in good palms.”
One in every of Musk’s different pet peeves is the difficulty of faux accounts. He threatened to stroll away from the deal over the inauthentic or “bot” accounts however has not revealed what he’ll do to combat them.
‘Unpalatable to advertisers’
One other problem for Elon Musk is to enhance the monetary well being of Twitter, which faces sluggish development, even recording a web loss within the second quarter.
In April, Musk talked about choices to generate extra income: boosting paid subscriptions, monetizing the dissemination of in style tweets or paying content material creators.
In a letter revealed Thursday, the entrepreneur referred to as on Twitter advertisers to work collectively to “construct one thing extraordinary,” stressing the significance of welcoming a large variety of opinions on the platform.
“Mr Musk has indicated in his newest publicity stunt that he needs to throw the kitchen sink at Twitter to draw new customers,” famous Susannah Streeter, senior funding and market analyst at Hargreaves Lansdown.
“However he’s going to face an enormous problem of sustaining and constructing income, provided that the controversial opinions he seems to wish to give extra of a free rein to on this ´world city corridor´ are sometimes unpalatable to advertisers,” she mentioned.
Some civic teams are additionally calling on main manufacturers to make use of their affect to stop Musk from offering a platform for essentially the most radical speech.
“Contemplating that adverts reportedly account for 90% of Twitter’s income, it’s clear that the facility to carry Musk accountable, if he rolls again the platform’s protections towards harassment, abuse and disinformation, lies within the palms of Twitter’s high advertisers,” Media Issues for America, a nonprofit watchdog group, argued.