Is Elon Musk on a mission to change Twitter?

On April 4, the world learned that Elon Musk had 9 percent stake in Twitter, which sent the stock soaring 30 percent. Soon after, Musk, now the biggest shareholder in the social media company, was appointed to the Board of the company. Twitter CEO Parag Agarwal welcomed him on board.
Is Elon Musk on a mission to change Twitter?

Is Elon Musk on a mission to change Twitter?

Photo : AP
KEY HIGHLIGHTS
  • On April 4, it was announced Elon Musk had 9 percent stake in Twitter
  • Musk is now the biggest shareholder in Twitter
  • Elon Musk isn't allowed to take a stake in Twitter larger than 14.9 percent
New Delhi: It all happened in a day, like clockwork. On April 4, the world learned that Elon Musk had 9 percent stake in Twitter, which sent the stock soaring 30 percent. Soon after, Musk – now the biggest shareholder in the social media company - was appointed to the Board of the company. Company’s CEO, India-born Parag Agrawal, tweeted: Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board.
“He (Elon Musk) is both a passionate believer and intense critic of the service which is exactly what we need on Twitter, and in the boardroom, to make us stronger in the long-term,” added Agrawal. That day, the stock surged another 8 percent.
The critic in Musk soon surfaced. On April 5, he ran a poll on the micro-blogging site asking Tweeple: Do you want an edit button? Agrawal quoted the poll and wrote: The consequences of this poll will be important. Please vote carefully. Of the total 4,406,764 votes, 73.6 percent voted Yes and 26.4 percent voted No.
Now let us remind you, on April 1, the company’s official handle had announced “we are working on an edit button”. But, given the date, many took it as another corporate April Fools Day prank. Four days later, Musk’s poll changed this perception completely. Maybe, we get to see an ‘Edit’ button soon!
This was followed by a series of eccentric tweets by Musk. In his latest poll, he asks “Delete the w in Twitter?” Prior to that, he asked whether Twitter’s San Francisco Headquarter should be converted to a homeless shelter since “no one shows up anyway”. Mr. Musk, very cheekily, is hitting out at some slackers in Titter!
On April 9, World of Statistics posted the list top 10 most followed Twitter accounts, which had names like former US president Barack Obama (131.4 million followers), singer Justin Bieber (114.3 million), Taylor Swift (90.3 million), PM Narendra Modi (77.7 million) and Musk himself with 81 million. He wasn’t too happy with the list. “Most of these ‘top’ accounts tweet rarely and post very little content. For example, Taylor Swift hasn’t posted in 3 months and Bieber only posted once this entire year!” he wrote.
Then, he asked a very pertinent question: Is Twitter dying? Well if that’s the case, it looks like the DogeFather is on a mission to revive it.
In fact, he wants to bring in the option of Doge payments for Twitter Blue premium users. Apart from that, he has announced that everyone who signs up for Twitter Blue (ie pays $3/month) should get an authentication checkmark. Blue already has a modifiable 20 second time to edit tweet feature and has no ads. “The power of corporations to dictate policy is greatly enhanced if Twitter depends on advertising money to survive,” he added.
Twitter blue is currently available in the US, Canada, Australia, and New Zealand. In these regions, Twitter Blue is available for in-app purchases on Twitter for iOS and Android.
The Musk-Twitter saga is just getting started. Experts opine that Tesla CEO has violated federal law by not notifying the SEC that he was buying up shares of Twitter. By not notifying the market when his stake surpassed the 5 percent threshold, Musk made a profit of $156 million, according to The Washington Post.
It is important to note here that while he serves on the Board and for 90 days following, he isn't allowed to take a stake in Twitter larger than 14.9 percent. And Musk has agreed to this. Meanwhile, his arrival has ruffled feathers of Twitter staff. “If an employee tweeted some of the things Elon tweets, they'd likely be the subject of an investigation from HR” one employee said. In the coming days, Musk will attempt to calm the anxious staffers at an “ask me anything”-style town hall.
All we can say is that winds of change can be felt at Twitter’s office and the platform. And... we get the front row seats by following his handle.
Update:
On April 11, CEO Parag Agrawal took to Twitter to inform that Musk has denied to take up the Board seat. “I believe this is for the best. Elon is our biggest shareholder and we will remain open to his input,” he wrote.
End of Article