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The Twitter layoffs were handled terribly, says Big Tech's Alex Kantrowitzwell you know I really don
Updated on Jan 31,2023
The Twitter layoffs were handled terribly, says Big Tech's Alex Kantrowitz
well you know I really don't think we've,ever seen a 24 hours like this in,Silicon Valley you have thousands of,people who are just watching themselves,being disconnected from the Twitter,slack and then narrating their,experiences on Twitter for all of us to,see so there's a lot of sadness coming,out of that company and I think there's,a lot of confusion and uncertainty about,what it's going to mean for the the,future of this company,Alex what do you make of the way all of,this has gone down you know from the,layoffs to the other issue which we're,going to get into in a moment with the,advertisers but you've got I've seen New,York State lawmakers tweeting about the,way that these employees were allegedly,let go,the layoffs were handled terribly I,don't think there's much debate about,that this is going to be a case study in,business schools for years about the way,not to do it no communication for,management from the moment they took,over uh and frankly you know layoffs,that,um hit core teams that Elon Musk is,going to need so it's bad for the,business as well some of those layoffs,came in sales and advertising you know,so it's no wonder that advertisers who,have a little clarity about what the the,content policies are going to be for,this new leadership inside Twitter it's,no wonder that they are now trying to,hold back their ad spend but this,Remains What what clearly seems to be,the largest issue moving forward,certainly from a business standpoint,let's take a look at this tweet from,Elon Musk this afternoon regarding the,advertisers in which he says quote,Twitter has had a massive drop in,Revenue due to activist groups,pressuring advertisers and though,nothing has changed with content,moderation and we did everything we,could to appease the activists extremely,messed up they're trying to destroy free,speech in America Casey I'd like your,reaction to that verse and what the,broader ramifications are for the vision,and ideas that musk and Company had for,that side of the business,well look I I sort of laugh at the idea,that Elon has tried everything he could,to appease advertisers when just a few,days ago he was tweeting homophobic,conspiracy theories right so I think,it's only natural that during a,transition like this advertisers are,going to want to pause and see what the,new lay of the land is because brand,safety is very important to them now for,Elon this is a real problem because,Twitter makes 89 of its Revenue through,advertising and so if he doesn't get,this handle if he doesn't get a handle,on this in a hurry uh you know that this,is going to become even a worse deal for,him than it already is,is it going to be a heavier lift Alex do,you think that than than he thought for,even somebody,um like musk who's obviously proven that,he can run multiple businesses uh,successfully at once,absolutely it's definitely going to be a,heavier lift than he thought and you,hear people around him talking about how,it's going to be easy to turn this,company around and I think that's the,first warning side when people say,trying to fix Twitter is easy and it all,feels easy to us as users that sort of,gives you an indication that they,haven't thought through the problems as,well as they should have and I think,that goes for musk I think that goes for,the people that he's listening to and I,think I was feeling a little bit more,optimistic at the beginning of the week,but now seeing the Reckless nature of,this layoff the fact that how can you,know who to cut he's been there for six,days and you make your list like it,doesn't make sense the traditional,Playbook here is you spend two months,learning the business then you make your,decision you do it in a day and this has,just been so messy it's going to make,the hill much harder for Elon Musk to,climb going forward,Casey I'll give you the last word on,what was the biggest issue this idea of,charging verified users eight dollars a,month before this sort of adstorm uh,blew up in in musk's face and and we're,talking about that as the principal,issue because it's the key business,issue but what about this idea of the,what seems to be a fair amount of,pushback on the idea of eight bucks,yeah look I think it makes sense for,Twitter to shift more of its Revenue mix,to subscriptions over time I think,there's a lot of low-hanging fruit there,I think charging for users for features,including at least some forms of,verification probably makes sense but,when you look at how much they can make,off of eight bucks a month with the,relatively low penetration they're going,to get at that price and you compare,that to the size of their current,advertising business there's no,comparison that's a drop in the bucket,so elon's gonna need a lot of bigger,ideas if he wants to make his money back,on this company,guys as always I appreciate it and,enjoyed it that's Alex and Casey joining,us once again on all things Twitter
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