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The Tesla CEO Elon Musk now owns Twitter, which he plans to reshape in his own image.
Ever since he bought Twitter on October 27, Elon Musk has been the center of attention. Everyone is interested to learn his ambitions for the social network, which is known as the town square where trend-setters and opinion leaders congregate.
Staff at Twitter worry that austerity measures will result in a significant drop in the number of employees. On October 29, news stories in the media verified their worries. Aside from these concerns, here are Elon Musk's changes to Twitter:
1. Twitter Homepage
Elon Musk changed Twitter's site less than a day after completing his $44 billion acquisition of the company. Employees with knowledge of the situation who spoke on the condition of anonymity because their statements were made without the company's consent said that he asked that the Explore page, which displays current tweets and news items, be diverted for logged-out users accessing Twitter.com.
When logged out, the Twitter homepage used to display just a sign-up form, which encouraged users to create accounts in order to access tweets.
To evade a code freeze put in place to stop rogue employees from making modifications during the takeover process, Musk's command, which was put into effect late Friday, required VP participation.
Although Musk didn't specifically state why the modification was made, the message was apparent to the staff members who saw it: no more sacred cows. Such a choice would have been debated over for weeks inside the old Twitter.
With less than three days under his hood as "Chief Twit," Musk has already begun to quickly transform the firm from the inside out, as seen by his alteration of Twitter's site, as per The Verge.
In spite of his plans to fire a sizable number of the company's workforce in the near future, he has accelerated changes to Twitter, such as ordering that the paid subscription feature Super Follows be changed to "Subscriptions" in a hastily released update to the mobile app.
2. Twitter to Use Elon Musk's Starlink Internet Service
Elon Musk has also talked of bringing Twitter to countries where it is now difficult to access utilizing Starlink, his satellite-based internet service at SpaceX. Workers assigned responsibilities by Musk have put in long hours and weekend shifts while their bosses compile lists of team members to let go.
According to a person with knowledge of the issue, when Musk sacked former CEO Parag Agrawal and other senior executives last week, he did so "for cause" in an effort to avoid giving them the millions of shares of stock they would have otherwise received. Musk sacked the Twitter executives for a reason, as first revealed by The Information.
3. Twitter Employees Face Layoffs
Currently, staff members worry that layoffs will start before November 1, when a sizable portion of them is scheduled to get stock awards paid out in cash at $54.20 per share. Musk tweeted "This is false" in response to a tweet referencing another article that claimed the layoffs will occur before that date shortly after this one was published.
4. Elon Musk to Merge Twitter to Other SocMed
Moreover, Musk is merging the social media firm with X Holdings, a business he founded in Delaware specifically to execute the transaction, as part of his purchase of Twitter. X will control the service after purchasing all of Twitter's stock, and Musk will have control over the holding company.
According to a securities filing, Twitter will be delisted from the New York Stock Exchange and its shares will no longer trade on open markets as of November 8. Twitter's shareholders authorized the sale of the business to Musk in September and agreed to sell him their shares for $54.20 each. Investors will be able to get their shares' cash value, as per NY Times.
Elon Musk's Twitter Company Concerns
Many people worry that the content control policy may alter in the near future. They are especially concerned about the reemergence of posts that are vile, racist, and bullying, as well as the spread of false information.
Tesla's multibillionaire CEO recently spread false information, as per The Street. Elon Musk disputed the police report that Paul Pelosi, the 82-year-old husband of House Speaker Nancy Pelosi, had been viciously beaten by a supporter of conspiracy theories who was affiliated with the far-right, racist QAnon movement.
Musk posted a link to the Santa Monica Observer, a publication with a record for releasing fake news, to further his argument. Later, he removed his post. There are other worries about the social network besides those centered on content management.
Related Article: Elon Musk Twitter Takeover Saw Return of Trolls, Sudden Spike in Offensive, Bigoted Posts in the Platform; NBA Star LeBron James Reacts
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