Elon Musk has an empire of his own; consisting of Tesla, SpaceX, SolarCity, Zip2, Paypal, Neuralink, Open AI, and the Boring co.
The self-made billionaire has dived into diverse industries including technology, construction, finances, and renewable energy. The world was wondering, what was next. Whether he is going to dive into medicine, clinical supply services, social media, or art.
It came as a storm when Elon Musk announced his next big thing in the form of buying a social media platform ‘Twitter’. He made a deal of 44 billion dollars and entered the Twitter headquarters with a real sink, tweeting “let that sink in!”.
Reduced workforce:
The first step that the billionaire is ready to take is laying off half the employees. According to the billionaire, the workforce is being reduced to put Twitter on a healthy path. Twitter asked the employees to keep an eye on their Friday emails to check if they still had a job. Elon Musk also emailed the employees that he is putting an end to remote work.
As a result of the drastic action against the workforce, a lawsuit was filed against the company accusing it of violating the state and federal law of 60 days’ notice before any major cutoff spree.
The Bluetick Issue:
Before Elon Musk took over Twitter, the bluetick was given to verified celebrities, public figures, and recognized individuals. Elon musk, on entering the field, announced that anybody can have a bluetick if they pay 7.99 dollars a month for it. It led to a storm that has been seldom seen anywhere in the history of social media.
Many people impersonated celebrities by changing their Twitter names and buying a bluetick for mere 8 dollars. Many celebrities complained about tweets being done under their names that were never done by them. It led to a mass exodus of celebrities from the platform because of the negative air. Following this scene, Twitter has officially stopped giving bluetick just to anybody. Further implications will come to light in the future.
Diverse Tiers:
Musk has also been hinting at dividing Twitter into separate strands which show different content. In easier terms, the user will select which Twitter version and content they want to be based on the rating. He also hinted at creating a video game-style interface where user-vs-user will be the big thing. Whether he puts his plans into action is yet to see.
Charging Money for Videos:
It has been said that Elon Musk is thinking about turning certain aspects of Twitter into the premium. The idea is that people who create the video content can charge other users for watching the content and Twitter will take a cut. Although the plan is flagged as high-risk because of legal compliance.
So,
There is no doubt that Elon Musk being the sole person calling the cards for the future of Twitter will have certain implications. Some of the changes that have been made yet were not received positively. What the future brings is still a question that will be answered in time. But today, the wind is not blowing in the favor of the billionaire.