Twitter under Elon Musk
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Since Elon Musk, the billionaire owner of Tesla and SpaceX, took over Twitter in October 2022, the social media platform has gone through many changes.
Musk buys Twitter
[change | change source]In April 2022, Elon Musk offered to buy Twitter for $44 billion. After months of negotiations and legal battles, the deal was completed in October 2022. Musk became the owner and CEO of Twitter, and he quickly began making big changes to the company.
Layoffs and resignations
[change | change source]One of the first things Musk did was to cut costs by laying off thousands of Twitter employees. About half of the company’s workforce was let go. Many employees resigned or were fired, including top executives. This caused concerns about how Twitter would manage its operations with fewer staff.
Changes to verification
[change | change source]Musk introduced a new system for Twitter Blue, a paid subscription service. For $8 per month, users could get a blue checkmark, which was previously used to verify the identity of famous or important people. This change led to confusion, as some users impersonated others, including celebrities and companies, by paying for the checkmark.
Content moderation
[change | change source]Musk has described himself as a "free speech absolutist" and promised to make Twitter a platform for open discussion. However, this led to concerns about the spread of misinformation and hate speech. Some advertisers left the platform, worried that their ads would appear next to harmful content.
Musk also reinstated many banned accounts, including that of former U.S. President Donald Trump. While some people supported this move, others criticized it, saying it could lead to more abuse and misinformation.
Technical issues
[change | change source]Under Musk’s leadership, Twitter has faced several technical problems. Users reported issues like glitches, crashes, and problems with features like two-factor authentication. Some experts blamed these issues on the large number of layoffs and resignations.
Financial problems
[change | change source]Twitter was already struggling financially before Musk took over, and his changes have made things more difficult. Many advertisers paused their spending on the platform, and the company’s debt increased due to the $44 billion purchase. Musk has said that Twitter is losing money and needs to find new ways to make a profit.
Rebranding to X
[change | change source]In July 2023, Musk announced that Twitter would be rebranded as "X." The famous blue bird logo was replaced with an "X" logo, and the domain name was changed to x.com. Musk said he wants to turn X into an "everything app," similar to China’s WeChat, where users can do more than just social media, like payments and shopping.
Reactions
[change | change source]People have mixed feelings about Musk’s changes to Twitter. Some support his efforts to promote free speech and innovate the platform. Others worry about the spread of harmful content, the loss of trust from advertisers, and the future of the platform.
Conclusion
[change | change source]Twitter under Elon Musk has been a period of rapid change and controversy. While Musk has big plans for the platform, it remains to be seen whether these changes will make Twitter (or X) more successful or lead to further challenges. The story of Twitter under Musk is still unfolding, and its impact on social media and online communication is being closely watched.