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Takeover - Musk throws Twitter into a tailspin

Takeover – Musk throws Twitter into a tailspin

Twitter hasn’t calmed down since Elon Musk took over three weeks ago. The richest man in the world spares no effort in SMS service. However, he soon cashes in on some of his advertising. In addition, waves of layoffs alternate with requests to return to the company.

Here is an overview of the events:

Driving change

Immediately after the acquisition at the end of October, Musk fired then-Twitter chief Parag Agrawal, chief financial officer Ned Segal, and legal director Vijaya Jade. He himself held the top job and now runs five companies, including electric car maker Tesla and space company SpaceX.

Job clearing

Musk initially fired about 3,700 people, half of the workforce at the time, and then asked some of them to come back. Shortly thereafter, he eliminates the possibility of working from home. In mid-November, Twitter’s new owner issued an ultimatum to employees to accept “long hours at high intensity” or leave with severance pay.

Subscription form – “Verified” and “Official”

On November 5th, Twitter introduced the paid premium account “Twitter Blue”. Among other things, it provides a blue flag indicating that the account has been verified. Three days later, an “official” media or government seal is announced, which will be presented with the subscription model, which costs eight dollars a month. On November 9, Musk regained the “official” designation. November 11th is “Twitter Blue” history because fake accounts are popping up like mushrooms. But now some users can decorate themselves with the “official” seal. A few days later, Musk announced a new subscription model on November 29th.

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Search and long texts

In early November, Musk announced an improved search function. The current version reminds him of the Infoseek search engine from 1998. It should also be possible to attach longer texts to tweets in the future. In addition, it will enable users to generate income from any form of contribution.

The fun is over – “the most accurate source of information”

Musk wrote on November 6 that Twitter users who fail to identify sarcastic accounts as such will be kicked off the platform without warning. On the same day, he announced the goal of making Twitter “the most accurate source of information”. Among other things, he wants to relax the rules of conduct on the platform.

Advertisers go the distance

Many companies such as the automaker Volkswagen or United Airlines no longer place ads on Twitter at this time. Advertising has so far been Twitter’s main source of income. Musk then called the self-proclaimed “absolute free speech” campaign for confidence. He wants to make the platform a force for the truth and stop fake accounts. At a business meeting, however, he warned of a possible bankruptcy of the SMS service. (APA/Reuters)