Today, we will talk about all the mess that has been going on in Twitter for the last few days, but before that, let’s know briefly about its new owner, Elon Musk.
Elon Musk was born in South Africa, and he later moved to Canada at the age of 17. And then finally reached California Stanford University, where he realized his goal of creating several companies and employing thousands of people.
So, he started by creating a web software company called ‘Zip2’ which he launched with his brother Kimbal Musk. Later he sold that company to the computer giant Compaq. He got millions of dollars for that deal. So, he thought of proceeding with a new company with that money.
Next, he began his brand journey with X.com, an online bank he founded in 1999, along with Christopher Payne, Harris Fricker, and Ed Ho. Later this online bank was merged with Confinity and was renamed to ‘PayPal,’ the leader in the online payments system.
In all this process, Elon Musk earned a massive amount of money, so in 2004, Elon Musk started his journey of next-level space exploration with SpaceX. Along with SpaceX, Elon invested in Tesla, The Boring Company, Neuralink, and Starlink.
In all these years, Elon invested all his time and energy into these companies and made them the leader of their category. Especially, Tesla and Starlink became the talk of the town, making most people call Elon a Messiah for humanity, as these two companies made a revolution in the Automobile and Internet World.
Elon’s influence grew on the world and people, and his tweets shook the market completely. One negative tweet about a brand from him could bring the market shares of that brand, and one positive tweet about something could make the shares of that brand skyrocket.
So, Elon lately realized that if his tweets have so much influence on people, why not buy the whole platform itself? He wanted to have total control of that platform. So, he gave the offer of $44 billion to buy the platform on the basis of $54.20/share.
Although the deal was stuck for a while, there were so many complications. Still, finally, the acquisition was complete, and Elon Musk became the sole owner of the gigantic social media platform.
Twitter and the $8 mess
Elon Musk wanted to bring something new to Twitter. So, he brought Twitter Blue Subscription into action. A service that costs only $8 and gives you that Blue Tick Check-mark on your account. Usually, this Blue Tick is only given to influential people and brands, but now anyone can get it by paying $8 monthly.
Now, Twitter will be going through lots of changes in the coming days. First and foremost of all, the impersonation will soon come to an end. Any account which impersonates some other person will have to mention on their account that it is a ‘Parody’ account. Any impersonating handle which will not follow this rule will be suspended permanently.
Elon Musk wants to increase the text limit in tweets too. Today, you can write only up to 280 words in one tweet. But soon, this limit will be removed, and you will be able to write as much as you want without the need to create a whole thread consisting of several tweets.
Next, to fight spammers and scammers, Elon has declared that if anyone who has a blue tick on their account if they change their name, their blue tick will be suspended temporarily. This move was taken after several people who bought blue ticks changed their names to famous personalities and brands and created social chaos by tweeting absurd things under those names.
Now, amidst all this mess, Twitter is going through a huge loss with each passing day. The company led by Elon Musk is losing over $4M/day. This exact was the reason Elon Musk fired half of Twitter’s employees, and this was obvious for cost-cutting. Elon has invested $44B on this platform, so he is doing everything he can to recover that money.
Keep in mind that there is so much disorder that several big brands have terminated their Ads from Twitter due to uncertainty about the future of the social platform. So, you can expect some drastic steps from Elon Musk to save Twitter from a huge market downfall.
Elon Musk has now canceled the Twitter Blue Subscription Service, which could give a Blue Verified Badge to its subscribers. We don’t know when the service will be live again.
What do you think about this new-era Twitter? Will it be a hit or miss? Let us know in the comments!