Late Thursday, Elon Musk, CEO of Tesla, The Boring Company, SpaceX and more posted that he officially bought Twitter. This canceled some of the bitter acrimony between Twitter and him when the issue reached the court, as he looked to renege on his earlier much publicized $44 billion deal. One of his first moves as CEO was to fire the top executives at Twitter. He has spoken of cutting the workforce by 75 percent and can do it now that he is the “Chief Twit”, according to his Twitter bio.
Elon Musk posted a long explanation on Twitter about the reasons for which he bought Twitter. According to his post, they include “to try to help humanity”, to help promote free speech without polarizing and more.
Musk has reportedly fired the following staff:
Parag Agrawal–CEO
Ned Segal–CFO
Vijaya Gadde–Head of Legal, Policy and Trust
Sean Edgett–General Counsel.
Although Elon Musk touted lofty ideals of free speech, without its ensuing consequences when misused to spread disinformation, violence and more, he appeared to have realized that this might make the popular platform lose advertising, making it difficult for him to recoup the $44 billion investments made by him and the investors who put their money and faith in him to,make Twitter profitable.
On Thursday, Elon Musk published a letter that read, “Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences.”
Earlier, Elon Musk spoke of making the platform a free-for-all hellscape. However, to date most platforms run because of advertisements and it doesn’t seem as if any major advertiser would want to promote their products in what was termed as a “hellscape.”
I will be digging in more today
— Elon Musk (@elonmusk) October 28, 2022
Elon Musk has been successful in running Tesla, SpaceX and The Boring Company as they offer products that are bought by consumers or businesses. It is difficult to successfully run a social media company without advertisements although it is easy to say that a platform will be a free-for-all hellscape.
— Elon Musk (@elonmusk) April 27, 2022
It remains to be seen as to which prominent figures will be back on Twitter if and when their permanent or temporary suspensions are lifted, in the next few days or weeks, or more. As of Friday morning, rapper Kanye West’s Twitter profile is back online.
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