Elon Musk starts as owner of Twitter by firing his top executives
October 28, 2022
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It’s official: Elon Musk bought Twitter after paying a whopping $44 billion and just hours before the end of the deadline granted by Judge Kathaleen McCormick’s order that
It’s official: Elon Musk bought Twitter after paying a whopping $44 billion and just hours before the end of the deadline granted by Judge Kathaleen McCormick’s order that had to be issued to end the buying operation that had turned into a “soap opera”.
And the operation was messy. Twitter sued Musk in July after the Tesla and SpaceX leader said he wanted to back out of buying the company for $54.20 a share. Musk claimed that Twitter had misrepresented the number of fake and spam accounts on its platform. Twitter, on the other hand, accused Musk of trying to cancel the previous deal because his personal wealth had fallen and the acquisition was more expensive.
We don’t know how Twitter will turn out, but there is no doubt that Elon Musk, as the owner of the microblogging platform and one of the main global social networks, will offer a media game.
Elon Musk buys Twitter and is already in charge
To begin with, and not without first “pacifying” advertisers, who continue to be the main source of funding for the company, yesterday Elon Musk appeared at Twitter headquarters with a sink, without saying what his first decisions will be.
They said and they did: the first decision was sudden dismissal of top managers. Twitter CEO Parag Agrawal, CFO Ned Segal, Chief Legal Officer Vijaya Gadde and General Counsel Sean Edgett are no longer with Twitter. Normal after a months-long war in which Musk publicly tweeted poop emojis at the CEO who replaced founder Jack Dorsey late last year. It wasn’t any better in private either. The two exchanged combative text messages, according to chat records revealed in the legal battle between the billionaire and the social network.
And they won’t be the only layoffs, as Musk announced up to 5,000, 75% job cuts at the time. He retracted that statement in the last few hours, but we’ll have to wait.
What will change on Twitter?
The billionaire has proposed several changes on Twitter in recent months. We like the first two: release service algorithms as open source and launch a war against spam and fake accounts, the high numbers of which caused Musk to try to back out of the purchase.
He also announced other more controversial changes, saying that the platform “does not respect the principles of freedom of expression” and therefore wants to overturn former United States President Donald Trump’s permanent platform ban, saying his comments fueled further violence in the Jan. 6 riots on Capitol Hill and that he stood for a coup in the capital’s country on Earth.
On a political issue, Musk tweeted that he believes there is a danger that social media “They are divided into cameras that amplify messages from the far right and from the far left.” and doesn’t want Twitter to become a “a hell where anyone can say anything without consequence!”
But advocacy groups and some Twitter employees have expressed concern that content moderation will become looser under Musk’s leadership, allowing Hate speech and harassment spread (further) on the platform.
“The Bird Is Free” Musk tweets. We’ll see where Twitter goes and where it ends up… For starters, the company will be delisted from the New York Stock Exchange today and will go private. It is not known whether Elon Musk himself “Twitter Boss”will take over the executive management of Twitter or transfer it to a third party, given that he is already the CEO of SpaceX and Tesla, in addition to holding other positions and being on the boards of his other companies.
Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.