Twitter’s new CEO is Elon Musk
The SpaceX. And Tesla CEO elon musk is now actually in charge of twitter. According to CNBC’s David faber, Twitter’s new CEO is Elon Musk, I should say former CEO perov, and the chief financial officer ned Segal have left the company’s San Francisco headquarters, and they will not be returning. They’re done with the company. And musk had until Friday to complete his $44 billion acquisition of twitter, or he would face a crazy court battle with the company.
Now, in April, twitter accepted musk’s proposal to buy the social media giant and take it private. Now, a couple of months later, and musk began to show that the intentions from twitter were not exactly what he thought they were. He thought there were a bunch of bots on the program, a lot of bots on the app, and he wasn’t really going for it, right? So he had a sort of a second thought about this. He said, okay, so we have a lot of bots on the app.
I know that. Everybody knows that. Twitter said there’s about 5% bots. There are some estimates of about 90%, which is kind of crazy. But somewhere in between, there are good people.
Twitter is now under the control of Elon Musk
“Twitter is now under the control of Elon Musk, who has been an outspoken critic of the social media platform. Musk has been a vocal supporter of the platform since its inception, and has been a major player in its growth.
Twitter has been under fire in recent months for its handling of user data and its failure to prevent the spread of fake news. Musk has been a critic of the platform, but has also said that it is an important tool for communication and networking.
The move by Musk comes as a surprise, but it is not unexpected. He has been a vocal critic of the social media platform in recent months, and has even hinted at leaving the platform entirely.”
It is not clear what Musk will do with Twitter once he takes control. He has indicated that he plans to make some changes to the platform, but has not given any specifics. It is also not clear if he plans to keep the platform running or shut it down entirely.
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
There are people that are using the platform. And musk saw that, and he said, you know what? I’m going to buy this company anyway. I’m not going to go to court about it. I’m going to spend my $44 billion on his company and his intentions to buy twitter.
And he alleged that the company failed to disclose all of those fake accounts on the service. And now when musk said that he was going to terminate this deal, twitter sued him. And they said that musk refuses to honor his obligations to twitter and it’s stockholders because the deal had no longer did it no longer service his personal interests. So they said, hey, elon, we got to do this. You said that you’re going to do this, and you have no proof otherwise of our bot intentions or these fake accounts, this 5% or 98% or whatever it is.
Somewhere in between, elon said, okay, let’s try this. So in the months in between there, twitter and musk went back and forth. Twitter would throw up some shade. Elon would throw up some shade. There’s some attorneys.
Both parties were sledded slated ahead to whereas court of chancery to determine the fate of the social media platform. So if it’s going to get an elon’s hands or if it’s going to stay in the public realm and be traded on the stock market. So October, elon said, you know what? Let’s do this. Let’s acquire twitter at the original asking price of nice.
And he said that when he buys this company, he’s going to drop all the litigation. Everything’s going to be great. It’s going to go private. So twitter’s lawyers, though, said that elon’s proposal is an invitation to further mischief and delay. So they didn’t trust him.
They think he’s kind of mischievous right they think he’s kind of in it for himself. He’s doing his own. And a Delaware chancellor court judge ruled that Musk had until October 28 to get the deal done.
Or it’s going to have the trial. So Thursday, Elon wrote a message intended to reassure advertisers that the social media messaging services won’t devolve into a free for all hellscape, where anything can be said with no consequences. And there’s a Twitter post about this from Elon, and it’s pretty dicey, it’s pretty awesome. I think there’s a chance that he’s in good spirits and that he’s doing this kind of to COVID all of his bases so they don’t lose revenue right up front. So kind of what happened to Tumblr?
I don’t know if you remember Tumblr or how big it was before, but when they were required, a lot of advertisers left. A lot of people just abandoned the platform because it wasn’t as cool as it used to be. And the new owners didn’t do exactly what they wanted to do, and they took it private and it was a fiasco. Elon sent this crazy treat. I’m going to read you some of this tweet I wanted to reach out personally.
This is from Elons Tweet. I wanted to reach out personally to share my motivation in acquiring Twitter. There’s been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong. The reason I acquire Twitter is because it is important to the future of civilization to have a common digital town square where a wide range of beliefs can be debated in a healthy manner without resorting to violence.
There is a current greater danger that social media will splinter into far right wing or far left wing echo chambers that generate more hate and divide our society in the relentless pursuit of clicks. Much of traditional media has fuelled and catered to those polarized extremes as they believe that is what brings in the money. But in doing so, the opportunity for dialogue is lost. This is why I bought Twitter. I didn’t do it because it would be easy.
I didn’t do it to make more money. I did it to try to help humanity whom I love, and I do so with humility. Recognizing the failure is pursuing this goal despite our best efforts is a very real possibility. That said, Twitter obviously cannot become a free for all hellscape where anything can be said with no consequences. In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature.
I also very much believe that advertising, when done right, can delight, entertain, and inform you. They can show you a service or product or medical treatment that you never knew existed, but is right for you. For this to be true, it is essential to show Twitter users advertising that is as relevant as possible to their needs. Low relevance elite ads are spam, but highly relevant ads are actual content. Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise.
To everyone who has partnered with us, I thank you. Let us build something extraordinary together. So there’s a few takeaways from this. Okay, so I’m going to go after the big one here. The big one is the ad platform.
So currently, if you advertise on twitter, you can boil down the results of your ad very minute. So say if you’re looking for somebody in upstate New York who likes ice cream, that skateboards and is also a dancer, you can find that person if you nail down the right trajectory for your advertisement, right? So Elon says it’s not going to become a hellscape where anything can be said with no consequences. So basically, people thought this was going to turn into four chan, and four chan is basically that the wild, wild west. You can do anything you want on four chan, basically, and no one’s going to say anything to you.
Everyone’s going to be like, all right, cool, do your thing. But this company needs to make money. This company needs to make a lot of money. Elon’s money isn’t just elon’s money. He has investors in this idea.
So there’s private equity firms, there’s other billionaires involved. It’s not just Elon’s money to just cash in a bunch of Tesla stock and buy twitter. So Elon says in addition to adhering to the laws of the land. So I’m guessing he’s saying free speech here. Our platform must be warm and welcoming to all.
So he’s saying, all right, let’s have everybody’s ideas here. Let’s open this up to everybody. It might be unbanning some people, some prominent figures, prominent political figures, possibly, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature. Okay, so your desired experience, what does this mean? It’s possible that Elon is saying, okay, so say if you’re into skateboarding.
I’m into skateboarding. I like skateboarding. I think it’s great. I used to be a skateboarder in my younger years. I still like it.
I watch it. I think it’s cool. It would be cool if there was sort of like a skateboard twitter, if there were sort of verticals for everything and also space flight. I mean, a space flight. What if there were a vertical for politics, but not just regular, like all over the board politics, but say if you like politics about Kentucky, kentucky politics, possibly you’ll be able to drill down into Kentucky politics and only follow certain topics like that.
Right now there’s things like that on twitter, but I think there’s going to be a more fleshed out program than what’s there now. And this is important here to see movies or they play video games ranging from all ages to mature. So currently Twitter is a mature platform as well. People post mature content on there and Elon says this isn’t going away. So there was a comment from somebody called Zoomy Music on Twitter.
Twitter. And zoom says yes. Also Twitter should find a way to compensate Monetization partner with its top creators. Like every other social media app, a small percent create all the high engagement content and keep the site active. Elon replied with absolutely.
So Elon is saying yes. That’s what I want. I want everybody to get paid for their hard work, because it is hard work doing all the social media stuff. It takes a lot of time. So by the time you create some content, say if I were to create a one update on a Tesla vehicle, right, possibly that might take me an hour.
And what is my hour worth? Is it worth 100 new followers? Which doesn’t really get me any money off the bat, you know, those followers don’t do anything. Or is there a way for people to send me money or to my channel or something like that? Something like YouTube, you know, the monetization of YouTube.
That’s why people use YouTube a lot. That’s why people are moving from Tik tok to YouTube because YouTube just created shorts and there’s going to be monetization of shorts which are 60 seconds or less, sort of like TikTok. Some creators are moving from TikTok where they don’t make money, but they have a ton of followers. But YouTube is saying, hey, come over here, we have advertising over here, we’ll pay you. So maybe this is happening with Twitter as well.
I don’t know how successful the shorts program is going to be, but there’s a lot of hype about it. So this is kind of what I’m guessing. And Elon also said, advertising, when done right, can delight, entertain and inform you. They can show you a service or here’s the big kicker right here, or medical treatment. So most of the advertisers online and most of the advertisers on television are medical advertisers.
If you watch any TV show, you’ll see that most of the stuff that you most of the advertisements on there in some form, there’s some sort of medicine involved, whether it’s something like a band Aid where you fix a cut real quick or something where you have to go talk to your physician about it. That’s in the United States. But he also said once advertising, that it’s relevant as possible to their needs. Low relevancy ads are spam, but highly relevant ads are actually content. So is it going to be a new ad platform for Twitter?
How can we make ads more relevant and more content based as opposed to just being an advertisement where it’s just a picture or a video real quick, like a five second video? Is there a way to advertise on Twitter that’s sort of a bigger idea? So I think he’s going to be working on that too. And he says, fundamentally, Twitter aspires to be the most respected advertising platform in the world. The strengthens your brand and grows your enterprise.
Everyone who has partnered with us thank you. So basically says, okay, this isn’t just a social media platform. Let’s make some money here, everybody. Let’s make a bunch of money. And in order to make that money, we need to keep these advertisers happy.
“Twitter Company new price is 44billion$, acquired by Elon Musk, founder, CEO and chief engineer of SpaceX.”