twitter trump realdonaldtrumpverge
What happened to Twitter after the Elon Musk takeover?late in the evening on October 27th Elon,Musk
Updated on Jan 25,2023
What happened to Twitter after the Elon Musk takeover?
late in the evening on October 27th Elon,Musk officially took ownership of,Twitter and wasted no time overhauling,basically everything about the company,in a matter of days he's fired the board,of directors installed himself as CEO,and made a string of increasingly,chaotic product decisions he's talked,about relaunching Vine he's talked about,establishing a new oversight board for,moderation decisions the biggest new,project is getting all the verified,accounts to pay eight dollars a month,for their blue check and if the,engineers can't ship an update in the,next week they're fired looming over,everything is the threat of massive,layoffs touching nearly every part of,the company whatever happens this is,gonna have a huge and lasting impact on,what it's like to use Twitter so what is,Elon musk's version of Twitter,actually going to look like Twitter was,part of the first wave of social media,companies founded just one year after,YouTube and two years after Facebook but,where those two became billion dollar,businesses Twitter has really struggled,lots of people use the platform but as a,business it's inconsistent at best,struggling for profitability through a,rotating cast of CEOs as Mark Zuckerberg,put it it was like they drove a clown,car into a gold mine as of last quarter,Facebook has about 10 times more users,and makes 10 times more money than,Twitter from April to June Facebook made,a profit of 8.4 billion dollars and,Twitter lost 344 million dollars that's,a lot of money to lose in three months,and after 15 years of fitful,profitability Twitter was looking at a,very real possibility that the company,would just run out of money into that,mess steps Elon Musk even as Twitter was,failing as a business it had become,really influential with a core set of,users particularly people who work in,the media so when Twitter made,controversial moderation calls like,Banning Trump or blocking a New York,Post article it could have a huge,overall effect as Elon became more,prominent on Twitter he also became more,prickly about the platform's moderation,choices and unlike basically every other,person on Earth he even in a position to,raise tens of billions of dollars just,to buy the thing this is not a a way to,sort of make money you know having a,public platform that is maximally,trusted and broadly inclusive is,extremely important to the future of,civilization I don't care about the,economics at all so in in theory this,approach could work whatever you think,of him Elon Musk has a long history of,running mission-driven companies and if,you squint a little you can imagine,Twitter being run the same way but,basically everything Elon has done since,he made this offer has made the deal,seem like a slow-motion disaster after,charging in hard with the 44 billion,dollar offer he spent most of the Year,trying to weasel out of the deal because,of some pretty specious claims about bot,activity eventually caving once Twitter,took him to court,now Elon really owns Twitter he's made,himself CEO and he can do whatever he,wants but mostly what he seems to want,to do is make life difficult for the,people who actually work there you can,argue some of this makes sense Twitter,really does need to reduce its costs and,the whole reason Elon bought it in the,first place was because he thought they,were doing a bad job but the fact that,it's happened happening so quickly and,haphazardly raises the real possibility,that there just won't be anyone left to,keep the platform running Twitter's,reputation is social media's ugly,duckling also works against it here,anyone with the skills to really help,Twitter succeed could make a lot more,money at Facebook or YouTube and they,wouldn't have to deal with working for,Elon at a company like SpaceX or Tesla,you might stick around because you,really care about electric cars or,private space flight but at this point,it's hard to imagine anyone really,feeling that way about Twitter then,there's musk's view of free speech his,basic idea is that Twitter should do,less moderation which is a reasonable,enough idea but in practice it's meant,gutting Twitter's trust and safety team,at the same time that the platform is,seeing a huge surge in tweets using,racial slurs whatever you think about,the abstract ideas in play this is not,going to tempt in any new users or,advertisers what's left looks an awful,lot like a death spiral where staff,chaos creates user experience problems,which leads to fewer users and less,money which leads to more staff chaos,and more platform issues for all elon's,experience he's never run a social,network before and he's not going to,have a lot of Runway to turn Twitter,around,if he really can't,he may have just bought a 44 billion,dollar trash fire,thanks for watching uh it's been a busy,week of updates but you can catch it all,on the verge.com,did you like the point that was like,that's what that's what
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