After months of authorized drama, Elon Musk has begun his takeover of Twitter, based on The Wall Street Journal and The Washington Post. His first transfer was to fireplace CEO Parag Agrawal, Chief Financial Officer Ned Segal and different prime execs.
Musk is taking the reins simply forward of a Friday deadline to finish the deal. The deal’s closing will deliver to an finish the months-long authorized battle that has engulfed Twitter since Musk first provided to purchase the corporate in April, earlier than asserting a pair weeks later that the acquisition was “on hold.” Musk, who declined to do due diligence earlier than his provide, cited issues concerning the variety of bots and pretend accounts on the platform. Twitter’s legal professionals later argued that the bot situation was merely a “pretext” for him to renege on the deal.
But finalizing the acquisition will likely be removed from the tip of turmoil inside Twitter. Musk, who has criticized Twitter’s management and clashed with Agrawal, has already fired at the least 4 executives, together with Vijaya Gadde, Twitter’s prime coverage official, and Sean Edgett, the corporate’s normal counsel. The New York Times reported that “at least one” govt was escorted from Twitter’s workplace on Thursday.
Musk, who modified his Twitter bio to “Chief Twit,” has made it clear he intends to deliver huge modifications to the social media firm. He has mentioned each in public appearances and in private messages that he desires to loosen up Twitter’s moderation guidelines and that he dislikes everlasting bans. He’s additionally prone to minimize employees, although he has instructed staff he gained’t minimize 75 % of staff as he was reportedly contemplating.
Twitter’s core service may additionally dramatically change beneath Musk’s management. In addition to loosening moderation guidelines on the platform, Musk has mentioned desires to “open source” Twitter’s algorithm so customers may higher perceive its suggestions. At the identical time, he’s tried to reassure advertisers that he doesn’t need the location to be a “free-for-all hellscape,” and that Twitter must be the “most respected advertising platform in the world.”
Musk, who has usually talked about his want for Twitter to be “an accelerant to creating X, the everything app” akin to WeChat in China, can also be prone to search for methods to extend non-advertising income. He’s proposed modifications to Twitter Blue, and floated the concept of charging firms for tweet embeds.
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