Grab the popcorn — looks like the woke folks at Twitter are going to have to start looking for some new jobs.
Elon Musk, according to reports, intends that he will be temporary CEO when he takes over and can hire 1000 staffers immediately. Ultimately, he’s going to add more people, to the company, mostly engineering people over three years. It doesn’t sound like they’re going to be hiring more content moderation people (otherwise known as censors).
Musk previously stated that he plans to reduce the salaries for the Twitter board. This would help save $3 million. But those aren’t the only changes he intends to make. He wants to reduce the advertising on the platform by 45 percent so it’s not so reliant on advertising. He wants to increase the number of subscribers to Twitter Blue. That means that $12 billion in advertising revenue and $10 billion through subscriptions would be generated. That would make him freer from the pressure from advertisers, so he’s already cutting off an anticipated way for leftists to force him to do what they want. They’re already trying to pressure advertisers against him and he hasn’t even fully taken control yet. This would decrease the impact that such moves could have on the platform. Musk has also speculated on possibly monetizing tweets, although he hasn’t outlined how that would work.
The idea is to increase by five times the annual revenue because of the changes — from $5 billion to about $26.4 billion. He anticipates that Twitter Blue — the premium subscription service — will have 69 million users by 2025, who are each paying now $3 to have access to “premium features.” Musk also speculated on lowering that price and including verification checkmarks.
‘Price should probably be ~$2/month, but paid 12 months up front; account doesn’t get checkmark for 60 days (watch for credit card chargebacks) & suspended with no refund if used for scam/spam,’ Musk said in a tweet from last month.
‘And no ads,’ Musk suggested. ‘The power of corporations to dictate policy is greatly enhanced if Twitter depends on advertising money to survive.’
Sequoia Capital, co-founder of Oracle and Larry Ellison are two investors that have offered financial backing to help him. A portion of the funds can be financed by a loan from Morgan Stanley and a sale of Tesla stock.
On Monday, at the Met Gala – his first public appearance since the deal was agreed – he was asked about his plans for Twitter.
‘My goal, assuming everything gets done, is to make Twitter as inclusive as possible and to have as broad a swathe of people on Twitter as possible,’ he said.
‘And that it is entertaining and funny and they have as much fun as possible.’
That sounds like a great improvement — especially if they no longer have banning for political reasons or political suppression of content, which he has made clear he wants to stop. No more woke people in charge, reduced ads and bots — he’s going to have people across the political spectrum loving his takeover.
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