Elon Musk proposes stepping down as head of Twitter in ballot

Elon Musk could also be near ending his run as Twitter CEO.

After haphazardly establishing a ban on hyperlinks out that put his website at odds with each The Washington Post’s Taylor Lorenz and his personal supporters, like Silicon Valley enterprise capitalist Paul Graham, Elon Musk’s doxxing, banning, and moderation outburst ended — predictably — with an apology and a promise it “won’t happen again.”

His $44 billion takeover of the corporate — that he tried desperately and unsuccessfully to get out of — began with a ballot, and it could be each applicable and well timed if his time as its CEO ended the identical manner.

Even earlier than Musk owned the corporate, there were reports that he deliberate to function as Twitter’s CEO solely briefly, and only one month in the past, he mentioned beneath oath that he deliberate to seek out another person to run the corporate. In follow-up tweets, Musk claimed the corporate “has been in the fast lane to bankruptcy since May” (not the primary time he’s used the b-word in reference to Twitter, he talked about it in an organization assembly final month) and said, “The question is not finding a CEO, the question is finding a CEO who can keep Twitter alive.”

Now, together with his decision-making beneath fireplace from the identical individuals who had been his supporters and his handpicked #TwitterRecordsdata journalist ghosting his pleas for a public response, Musk could also be able to put his overpriced toy in another person’s arms for a short while.

Unmentioned in his tweets, however looming over this week’s whole episode, is the truth that Tesla’s inventory value has dropped to a 52-week low of about $150 per share, down almost 50 % from a yr in the past. Musk not too long ago dropped to quantity two on Forbes’s listing of the world’s richest individuals.

Reuters experiences that Tesla’s third-largest particular person investor and self-proclaimed Musk fanboy KoGuan Leo tweeted earlier this week that “Elon abandoned Tesla and Tesla has no working CEO.” Earlier this morning, Leo tweeted again, saying, “I wish Elon quickly finds new CEO of Twitter.”

Musk has (largely) acted in keeping with the outcomes of polls posted to his personal Twitter account in his time proudly owning the corporate, however the Musk Rules will be fluid. He also promised beforehand that “No major content decisions or account reinstatement” would occur with out convening a content material moderation council, then retroactively claimed that now not utilized on account of activist teams that “broke the deal.”

The standing of Twitter’s new insurance policies, within the meantime, stays unclear — Lorenz is unbanned, and Musk mentioned Paul Graham’s account will likely be restored as effectively, whereas additionally claiming the hyperlink coverage “will be adjusted to suspending accounts only when that account’s primary purpose is promotion of competitors, which essentially falls under the no spam rule.”