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Fired CEO and CFO, how will Musk achieve his Twitter ambitions?

  • joy
  • 2022-10-28 20:16:02
  • 915 read
  Tesla CEO Elon Musk (Elon Musk) today became the new owner of Twitter. The new officer took three fires, and...

  Tesla CEO Elon Musk (Elon Musk) today became the new owner of Twitter. The new officer took three fires, and Musk fired Twitter executives who he believed had misled him; but did not make it clear how he would achieve his previous ambitions for Twitter.

  Musk has previously said he wants to "kill" spam bots on Twitter, make the algorithms that "determine how content is presented to users" public, and prevent the platform from becoming a breeding ground for bad content, even if censorship is relaxed. .

  But Musk has not provided details on how he will accomplish all of this or who will be at the helm of Twitter. He has said there will be layoffs at Twitter, leaving some 7,500 employees worried about their futures. He also said the acquisition of Twitter was not about making more money, but "trying to help the people I love."

  Musk has fired Twitter CEO Parag Agrawal, CFO Ned Segal and head of legal affairs and policy Vijaya, people familiar with the matter said earlier today. Vijaya Gadde. Musk has previously accused them of misleading him and Twitter investors about the number of fake accounts.

  Agrawal and Siegel were still at Twitter’s San Francisco headquarters when the deal closed and were escorted out the door, the person said.

  Twitter, Musk and the executives have yet to comment.

  twists and turns

  The $44 billion acquisition was a twist and turns, which once raised doubts about whether Musk would complete the deal. It began on April 4, when Musk disclosed that he had acquired a 9.2% stake in Twitter, making it the largest shareholder.

  Initially, Musk said he accepted Twitter's invitation to join the company's board. But at the last minute (April 26), Musk reversed course and offered to buy Twitter for $54.20 per share, a deal worth about $44 billion.

  But on July 9, Musk announced that it was terminating the deal because Twitter had violated several terms of the agreement, including the issue of fake accounts. On July 13, Twitter filed a lawsuit against Musk. Earlier this month, Musk sent another letter to Twitter, expressing his willingness to continue the deal on the original terms.

  start the hype

  Since then, Musk has been addicted to the hype surrounding the deal. He walked into Twitter headquarters yesterday, grinning and holding a porcelain sink in both hands. He then tweeted: "let that sink in" and changed his Twitter profile to "Chief Twit."

  He also sought to calm employee fears of looming mass layoffs and assured advertisers that his past criticism of Twitter's content-censorship rules would not hurt Twitter's appeal.

  In an open letter to advertisers last night, Musk promised not to turn Twitter into a "swamp of fanaticism" of misinformation and hate speech, but to make it the world's most respected advertising platform .

  He said: "Twitter clearly cannot be a hell where everyone can move freely: where anything can be said without consequences!"

  In addition, Musk said Twitter was the basis for creating a "super app" that offers everything from money transfers to shopping and ride-hailing. Earlier this month, when Musk announced his willingness to continue acquiring Twitter, he said that acquiring Twitter would accelerate his creation of an "all-in-one app" called "X." "Acquiring Twitter could accelerate Project X by three to five years," he said.

  On October 19, Musk also said on Tesla's earnings call: "Twitter's long-term potential, in my view, is an order of magnitude higher than its current value."

  But for now, Twitter is still struggling to attract the most active users who are critical to its business. These "heavy Twitter users" account for less than 10% of its total monthly users, but generate 90% of tweets and half of global revenue.


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