I am sure everyone is so tired of hearing about this never ending saga of the Tesla guy wanting to buy Twitter, fix it, get rid of the bots, not buy it, get forced into buying it, buy it, and seemingly fire everyone around… So let’s break down what’s going on and the new updates from the new owner of Twitter in his release today.
We don’t need to go over who Elon Musk is or anything like that in this write up because if you don’t know already it probably doesn’t mean much to you, but we will cover some of the new developments that have come out.
First things first, why did he want to buy Twitter?
There are many reasons why one might want to take over Twitter. In Elon Musk’s case, it may be because he wants to share his message with the world or because he wants to connect with like-minded people. Or maybe he thought the restrictions as to what was being said were too high…. or just that he could do a better job. Whatever the reason, it’s clear that Musk is serious about his new social media platform.
Musk has always been an innovative thinker, and his takeover of Twitter is just another example of his forward-thinking nature. With Twitter, Musk will have a direct line to millions of users around the globe. He can use this platform to share his ideas and thoughts on a variety of topics, from technology to business to politics. But what if he doesn’t actually want to use it for his own messaging ? We have seen him already get in trouble for his tweets, and owning the company won’t save him from SEC fines either way..
Some have speculated that Musk’s ultimate goal is to create a global community of like-minded individuals who can help him achieve his ambitious goals, but there is a very thin line behind totally open speech and a place where things that shouldn’t be said ever are now acceptable to say…
What has he done since buying Twitter?
So far the biggest things to hit the news come on two different fronts, but honestly have a very similar goal to them. Twitter needs to figure out a way to generate more revenue. And not only that, but to make and keep more money. If you generate a billion dollars a day but spend two, you aren’t winning. And he went about it from two different avenues.
Twitter lays of people, A LOT of people
So the first way to keep more money is to spend less, that is easy. Reduce your overhead right? So with Twitter their overhead is basically staff, physical needs like warehouses and office spaces, and the tech needed to support it.
Without the physical need of a warehouse and tech necessities the only place to trim is with office space and people… If you have less employees you don’t need as big of an office, and your payroll goes down. So what did he do?
He laid off a lot of people, and in this report almost 90% of the employees in India twitter were let go! So, that will save money right away right?
Twitter must start earning more money
Twitter currently makes money with ads. Like a lot of social platforms, they grant access to users for free but generate money based on ads. Well , Elon ( yes we are on a first name basis now ) has decided that those blue checkmarks that validate the owner of the company could now cost $8 a month… So to prove you are who your handle says you are you should have to pay? So $8 for a blue checkmark… I just don’t see the value in that. And if you are famous say like Bill Gates, does it matter to you if people know its your real account or not?
So we have already seen some pushback from one of the leading tech investors in the world, but Mr. Cuban is smart enough to know better than to try to bully the boss. So he just passively walks away.
What does this mean for Twitter?
Twitter has been in a state of flux ever since Elon Musk took over as CEO. The social media platform is now facing an uncertain future, as Musk begins to implement his vision for the company. We can see he has his plan, and is moving to implement it as quickly as he can.
It remains to be seen how successful Twitter will be under Musk’s stewardship. However, it is clear that the company is facing challenges that it did not previously have to contend with. But the cracks that would come with letting go of so much of your staff so quickly have already begun to show with common standards of Twitter breaking for no real reason.
What’s next for Elon Musk and Twitter?
Elon Musk has taken over Twitter and the internet can’t seem to get enough of him. The billionaire CEO of Tesla and SpaceX has been tweeting up a storm lately, and his followers a
re eating it up. But what’s next for Musk and Twitter?
Some say that Musk is using Twitter to gain more exposure for himself and his businesses. Others believe that he’s genuinely interested in connecting with people and changing the world. Only time will tell what’s really going on with Musk and Twitter, but one thing is for sure: we’re all watching with baited breath.
If we take what he is saying publicly at face value, he wants to create a town square for the world. Basically a place where at least 80% of the population can get to, voice their concerns and work towards a better future. Which all sounds great, but I can’t imagine 80% of the 70+ demographic getting online, and having any clue what is going on, let alone being able to voice what they need and understanding what the results are. Here is exactly what he said:
We really want to be, as I’ve mentioned before publicly, sort of the digital town square, where that is as inclusive as possible… Like, can we get 80% of humanity on Twitter, and talking, and maybe, ideally, in a positive way? Can we exchange… instead of having violence, have words, and maybe once in a while people change their minds? The overarching goal here is like, how can we make Twitter a force for good for civilization?Elon Musk
Which sounds great, but again I just don’t see 80% of the world jumping on here. But maybe that is the issue. Elon Musk has always been one for radical changes in thought processes. He made electric cars something that we talked about, and generated enough interest to make the world change their views on EV’s.
Here is a link to his entire discussion, and its a bit long and wanders around topics like you have come to expect, but a good listen either way:
There is no definitive answer to what we can expect as he has shown time and time again, that what he says one day might not happen that day. It might not even happen at all, or sometimes it is the opposite of what he says that will happen.
Some people believe that it is good for Elon Musk to own Twitter because he is a very popular figure and his presence on the platform could help to attract more users and get him closer to his town hall for the world goal.
Others believe that it could be bad for Twitter because Musk is known for making controversial statements and this could alienate some users. Ultimately, it is up to each individual to decide whether they believe that Musk owning Twitter is a good or bad thing.
Either way it is hard to deny that Twitter will be changing, and continue to change, at a very quick pace with the new owner having total control of the platform. So buckle up as things could get bumpy, very fast. We just hope that we don’t end up talking to AI bots for our happiness while it drives us around in our Tesla EV and we no longer even have to move to be alive.