October 27, 2022, marks the day the world’s richest man, Elon Musk, officially bought Twitter for $44 billion — and it’s been nothing but a rollercoaster ever since.
While Musk discussed plans to ensure the platform is a safe space for free speech, his takeover has been met with increased controversy and attention from both sides of the coin — some say the new owner’s ideas will make Twitter a more enticing place for advertisers, others disagree.
It’s safe to say the much-loved social media platform has experienced many changes over the past few weeks, with even more on the horizon.
Firings, Firings, and More Firings
Some may wish to start their newfound ownership with positivity, but Musk took the “brutal efficiency” route, firing Twitter Inc.’s CEO, CFO, and policy chief without providing much information about how he plans to achieve his visions for the platform.
Once his acquisition went live, the Tesla Inc. CEO declared, “the bird is freed,” referencing his desire to see the company minimize content limits but simultaneously prevent it from becoming a place filled with hate.
He also announced his goal to put an end to Twitter’s spam bots and place the platform’s algorithms in the public domain.
However, he’s yet to provide details on how he plans to achieve everything and who will run the influential company.
After accusing Chief Financial Officer, Ned Segal, Chief Executive Officer, Parag Agrawal, and legal affairs and policy chief Vijaya Gadde, of misleading him and other investors over Twitter’s fake account population, Musk fired all three executive-level members.
Those familiar with the events stated Segal and Agrawal, who were at the company’s San Francisco headquarters when Musk closed the deal, were escorted out of the offices.
Elon Musk Considers Putting Twitter Behind a Paywall
As per a report from Platformer, the firings weren’t the only thing on Musk’s to-do list — he is considering putting Twitter behind a paywall. However, the seriousness of his “plan” is yet to be ascertained.
Platformer reporters said, if the move does go ahead, it doesn’t appear imminent. Although, it’s certainly an insight into how Elon Musk plans to drive revenue from the recently acquired platform.
Currently, the paywall is just another musing. However, he has put more thought into a new user verification process, dubbed Twitter Blue, that’s coming to the platform soon.
In a series of tweets, Musk told users that Twitter would offer $8 per month verification. But he was quick to establish that subscribers will get more than “just” a blue tick. They will also receive priority in replies, mentions, and searches, alongside half as many targeted advertisements and the ability to tweet longer-form audio and clips.
Musk’s Meeting with Civil Rights Leaders Derail Plan to Reinstate Banned Users
While Musk wanted to give “power to the people” and reinstate banned users, various civil rights leaders did not let that happen.
Twitter’s new owner faced pressure from the heads of the NAACP, Anti-Defamation League, and Color of Change over the proposed reinstation during a near-60-minute Zoom session.
Following the meeting, Musk tweeted that those who were banned from the platform for rule violations wouldn’t get the chance to return for at least another few weeks.
In a more recent update, Elon Musk polled Twitter users on whether or not to reinstate Donald Trump, increasing the likelihood that the former president will return to the platform.
The Bottom Line: Twitter’s Future is Murky
The Twitter drama is set to continue, especially amid even more job cutbacks in the near future, plummeting the platform’s success into murky waters.