How has Twitter changed since Elon Musk bought it?
- Firing of the top management (CEO, CFO, Head of Legal).
- Firing of 50% of employees.
- Freedom of speech is now an essential tenet.
- Expected verification service: $8/month.
Elon Musk completed the purchase of Twitter on 28 October 2022 after a deadline by the regulator to do so. Elon Musk has appointed himself as the CEO of Twitter, and he wants to bring along a slew of changes that will focus on technical abilities, workforce streamlining, and freedom of speech.
50% of employees (around 3,750 people) fired[edit]
Elon Musk purchased Twitter and promptly dismissed its top executives, including CEO Parag Agarwal, Vijaya Gadde (who oversaw legal, policy, and trust), and Ned Segal (who oversaw finances).[1]
Later, in early November 2022, Elon Musk dismissed around 50% of Twitter's employees -- around 3,750 people.[2][3]
There is some criticism of the move as some feared the social media giant's capacity to avoid security problems and filter objectionable material after such a drastic workforce reduction.[4]
Twitter became a privately owned company[edit]
According to a securities filing, as of Friday, 8 November, Twitter will no longer be listed on the New York Stock Exchange, and its shares will no longer be traded on public markets. Shareholders of Twitter gave their stamp of approval to Musk's purchase of the firm in September, approving the deal for $54.20 per share. Cash payouts for existing shareholders and employees will be available.[5]
Users will now be able to edit their tweets[edit]
There are many upcoming feature changes under the reign of Musk, and the most important one is the ability to edit the tweet. Users will be able to tap a new pencil-shaped edit button on any tweet posted in the last 30 minutes to make up to five changes. With a timestamp disclosure, people will be able to see that a tweet has been changed. If you tap on that timestamp, you'll see a list of versions.
The feature can be turned on in the Labs section of Twitter Blue.
The feature seems like it will be a big draw for people to sign up for Twitter Blue, which costs $5 per month in the United States. It has features like a reader mode for threads, ad-free reading for articles from many publications, 10-minute-long video uploads, and several experimental functions like this in the Twitter Blue Labs.[6]
Twitter's blue tick for the verified profile will cost a monthly fee[edit]
Elon Musk has said that he will also revise the Twitter verification procedure. He has argued that Twitter cannot be profitable on advertising alone and that it will have to monetize on other sources of revenue. Initially, he proposed a USD 20 monthly fee, but then settled to USD 8 a month.[7]
Freedom of speech will take center stage from now on[edit]
Musk thinks Twitter should be more "hesitant to eliminate things" and "very careful with permanent bans." That could mean that a long list of controversial far-right figures and conspiracy theorists, among others, will soon be able to get back on the platform.
Musk, for his part, has focused on getting back one of Twitter's most famous former users- Donald Trump. [8]
- ↑ Goldsmith, Jill (2022-10-28). ""The Bird Is Freed" – Elon Musk Closes Twitter Deal, Opens New Era For Social Media Platform". Deadline. Retrieved 2022-11-01.
- ↑ Newton, Casey. "Twitter, cut in half". www.platformer.news. Retrieved 2022-11-05.
- ↑ Sato, Mia (2022-11-04). "Elon Musk's Twitter layoffs leave whole teams gutted". The Verge. Retrieved 2022-11-05.
- ↑ "Twitter employees expect layoffs as Elon Musk preps 'aggressive' cuts". Business Insider. Retrieved 2022-11-01.
- ↑ Wile, Rob. "What happens to your Twitter stock now that it's a private company". www.nbcnews.com. Retrieved 2022-11-01.
- ↑ "Twitter test Edit Button: Twitter test its 'Edit Button', see who can use this new feature - The Economic Times". m.economictimes.com. Retrieved 2022-11-01.
- ↑ "Elon Musk to revamp Twitter verification rules: What is the 'pay for blue tick' row". The Indian Express. 2022-11-01. Retrieved 2022-11-01.
- ↑ "EXCLUSIVE: Elon Musk Plans to Become Twitter's CEO and Reverse Lifetime Bans on Users - Latest Tweet by Bloomberg". LatestLY. Retrieved 2022-11-01.