Elon Musk is now the owner of Twitter and his current bio on the app comically reads ‘Twitter Complaint Hotline Operator’. Taking over the bird app on 27 October 2022 at a buyout price of $44 billion, Elon Musk has been on a roll with introducing rapid new changes in Twitter and the entire company. Keep reading as we lay down the key terms of Twitter acquisition by Elon Musk, what it is causing and the Twitter blue tick verification and the new policy of Twitter blue tick price to be paid.
New Changes In Twitter – The Key Terms Of Twitter Acquisition By Elon Musk
Soon after Twitter’s acquisition, there were made few new changes in Twitter such as Twitter blue tick verification and much more. Some of the key terms of Twitter acquisition by Elon Musk include:
Firing Top Executives
Soon after Twitter acquisition by Elon Musk, the news of major top executives being fired from the company spread like wildfire. Among all those who came under the bus are the CEO himself, Parag Agarwal, Twitter’s legal and policy chief, Vijaya Gadde and the CFO, Nel Segal.
Also Read- Will Elon Musk Fire Indian CEO? – Twitter CEO Might Get $42 Million
Elon Musk Dissolves Board
Elon Musk, who is now the chief executive of Twitter, needed full control over the company. And thus, to bring new changes in Twitter he dissolved the current board of directors, taking over the position of the sole Director of the company. However, after the news was revealed via the documents under US Securities and Exchange Commission (SEC), Musk called it a temporary change and we expect him to form a new board of directors team including the people he deems worthy.
Changes to Twitter Homepage
Another tale in taking over Twitter, Elon Musk has requested for the homepage of Twitter.com to simply be redirected to logged-out user’s interface instead of the sign-up landing page that is currently in use. Although the directive wasn’t a rose walk for Elon since he required the Vice President’s involvement to override the code freeze.
Twitter Blue and Twitter Blue Tick
If you are a social media enthusiast, you would know about Twitter blue and the Twitter blue tick verification system. That little mark beside one’s username is provided to verified users on Twitter. This didn’t go well with Elon Musk and he decided to charge a monthly fee from all the blue tick holders, or Twitter Blue members, stating that the app cannot just depend on ads for its revenue.
Before, the Twitter blue tick price was decided to be $20 per month but after receiving a lot of backlashes, Musk announced the official price of $8 per month which is most likely to roll out by 7th November. Blue tick subscribers will also enjoy fewer ads, priority in replies, mentions and searches along with the ability to post longer videos and audios.
Twitter New Employees
It has been reported that Elon Musk has taken in a lot of employees from his primary unit, Tesla and many other friends and colleagues as new employees. This includes Jared Birchall, Jason Calacanis, James Musk, Andrew Musk, Sriram Krishnan, a former Twitter employee and David Sacks who was the founding Chief Operating Officer of PayPal.
What’s next for Twitter?
More Job Cuts?
Musk is all set to reduce the workforce by a whopping 50%, as per the insider news. According to his evaluation rules, the layoff will be done based on how much the employee contributed to Twitter’s code during their tenure. Both Musk’s Tesla personnel and Twitter officials are given the responsibility for the evaluation.
New Leadership
Elon Musk has been meeting and contacting a lot of people that fit in as perfect candidates to head the bird app. Although it is highly expected that Twitter wouldn’t have a full-time leader, the anticipation is still high. The most important name on this list is David Sacks who has been a good friend of Elon Musk since his PayPal days. Other names include Kayvon Beykpour, Sriram Krishnan and Jason Calacanis.
Also Read- The History Of Twitter And How Twitter Is Used For Business
Content Moderation and Free Speech
Among the key terms of Twitter acquisition by Elon Musk, one of the most desired features for Twitter by Elon Musk has always been the right to speech. The discussions are hot on Twitter’s content moderation policies and Musk has asked the review team to look into the personally chosen ones. He also aims to penalize speech offenders strictly for targeted hate attacks.
Vine
If you know, Vine was the world’s first-ever short video app which was very popular back in 2013 and was acquired by Twitter but shut down years later, in 2016. Musk is considering reviving this old application and having its code rewritten to be compatible with current Twitter.
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