According to The Wall Street Journal, Elon Musk told potential investors that he plans to restore Twitter Inc (NYSE:TWTR) -0.79% within three years of the acquisition. Elon Musk promised to restore free speech and debate on the microblogging site, and he agreed to buy Twitter for $44 Billion and make it private.
Musk, the world’s richest man, has been in touch with banks and private equity groups to secure the financing for the transaction. Musk said in regulatory papers that he has just sold Tesla (NASDAQ:TSLA) shares worth $8.5 billion. He is likely to get money for the marketing and team up with one or more equity partners.
Ark Analysts claim that Twitter could unlock its ‘full potential if it allows third-party developers access to its algorithm. According to reports, bankers have heard Elon Musk tell them that he wants to cut down the number of employees on Twitter to increase its bottom line. As an option for monetization and increasing cash flow, the subscription service was also suggested.
Twitter’s board was not informed about Musk’s plans for employee cuts and tweet monetization until then. As a result, the company’s financial performance and valuation were not considered. Twitter will experience significant changes under Musk’s leadership. Twitter’s share prices fell 0.55 percent Tuesday and closed at $48.87.
Elon Musk Wants to Charge Governments and Businesses to Use Twitter.
There seems to be a longstanding issue with Twitter, which hasn’t produced as much money as other social media networks, now Tesla’s owner is seeking a solution.
There is no doubt that Tesla CEO Elon Musk has said that he plans to “make Twitter better than ever” by adding new features. The software tycoon hinted at some of these potential shifts in a recent post on the social network, which he purchased for around $44 billion (US$54.20 per stock).
According to Elon Musk, a “light fee” to use Twitter, Tesla’s and SpaceX’s presidents maybe come soon for businesses and governments alike. Accounts belonging to non-profit organizations and journalists should not be shared with casual users since they would be free from fees.
Twitter’s board of directors only yearly authorized the sale to the billionaire, but the transaction is likely to conclude later this year and must be approved by the company’s shareholders. For years, Twitter (TWTR) has been plagued by the fact that it has never produced as much money as other social media platforms, such as Facebook, Instagram, and YouTube.
There Has Been a Long History of Charging for Services.
Additional features like erasing and bookmarking tweets are only available to users in the United States, Canada, Australia, and New Zealand who purchase the membership. Musk also aims to cut the pricing (now $2.99 per month in the United States) and restrict advertising for this Twitter Blue feature.
On Monday, Twitter has to eliminate all the bots, trolls, and frauds on the network, stated Tesla CEO Elon Musk at the Met Gala dance. He’s also said that all Twitter direct communications must be end-to-end encrypted to prevent eavesdropping or hacking.
Despite Musk’s insistence that his primary motivation for using Twitter is to fight against what he perceives as the company-wide censorship of free speech, critics of the billionaire fear that he will mute both his own and other people’s voices if he continues to block those who disagree with him from his account.
Last month, Musk discussed his vision for the platform at the TED2022 conference in Vancouver. While granting that content moderation is necessary to handle explicit appeals to violence and ensure that the site complies with local regulations, he remarked, “I believe it’s vital that there is an inclusive field for freedom of speech.” Former President Trump might join the platform under the leadership of CEO Elon Musk, who favors “timeouts” over permanent bans.
According to Elon Musk, tweets Will No Longer Be Confined to a Small Group of People.
Elon Musk, the new owner of Twitter, has made further statements regarding his vision for the social network’s future as a mainstream platform rather than a “niche” one. During the Met Gala’s red carpet interview, the world’s wealthiest person gave a brief statement to the media.
Tesla CEO Elon Musk said one of the new management’s aims is to get most American citizens to start utilizing the platform regularly. There are now 40 million daily users, compared to Facebook’s(NASDAQ:FB) 221.6 million and even Snapchat’s 108 million active users.
“It’s a bit niche at the moment. Enlarged participation by more of the population is what I wish to see. “The merchant mentioned this. However, days before the billionaire pledged that he would not make the platform poisonous, he also expressed his aim for inclusive media.
Tesla CEO Elon Musk said one of the new management’s aims is to get most American citizens to start utilizing the platform regularly. There are now 40 million daily users, compared to Facebook’s 221.6 million and even Snapchat’s 108 million active users.
“It’s a bit niche at the moment. Enlarged participation by more of the population is what I wish to see. “The merchant mentioned this. Days before the billionaire pledged that he would not make the platform poisonous, he also expressed his aim for an inclusive, dependable space where people could speak freely. As a model and a digital influencer, his mother, Maye Musk, attended the party with him.
According to Reuters, a mass exodus of the company’s workers was reportedly discussed by Elon Musk. Even internal adjustments had been halted to prevent any demonstrations. “Everyone has the right to go somewhere else if that isn’t their cup of tea. Please don’t worry about it, “he concluded.
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