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Twitter Businesses Social Networks

Twitter Is Now an Elon Musk Company (theverge.com) 446

Elon Musk has "added [Twitter] to his business empire after months of legal skirmishes," writes The Verge's Elizabeth Lopatto, citing reports from CNBC, The Washington Post and Insider. From the report: Musk's first move on Thursday was to oust Parag Agrawal, who was Twitter's last CEO as a public company. Chief financial officer Ned Segal and Vijaya Gadde, the company's policy chief whom Musk had publicly criticized have also reportedly left the building. Sean Edgett, the general counsel, is also gone, The New York Times reports, adding that at least one of these executives was walked out by security. Chief customer officer Sarah Personette was also fired, Insider reports. The execs received handsome payouts for their trouble, Insider reports: Agrawal got $38.7 million, Segal got $25.4 million, Gadde got $12.5 million, and Personette, who tweeted yesterday about how excited she was for Musk's takeover, got $11.2 million

Questions still remain about what Musk plans to do with Twitter now that he owns it, though he's made a number of public comments. The Washington Post reported that Musk planned to cull 75 percent of Twitter's employees, citing estimates given to prospective Twitter investors. Musk told Twitter staffers that the 75 percent figure was inaccurate, Bloomberg reported. In Musk's text messages, provided during discovery to Twitter's lawyers, he and entrepreneur Jason Calacanis, a friend of his, discussed cutting staff by requiring a return to office. "Day zero," Calacanis texted Musk. "Sharpen your blades boys." Requiring Twitter employees to return to offices would mean 20 percent of the staff would leave voluntarily, Calacanis wrote. Also, Calacanis told Musk, "Twitter CEO is my dream job."

Twitter also faces challenges to its free speech stance in court, as the Supreme Court agreed to take up two cases that will determine its liability for illegal content. Musk, who is also CEO of Tesla and SpaceX, has suggested he'll change the way Twitter's moderation works, potentially relaxing the kinds of policies that saw former President Donald Trump permanently banned from the platform. Although Musk has said that his Twitter acquisition is "not a way to make money," he's reportedly raised ideas for cost cutting and increasing revenue. Governments and corporations could be charged a "slight cost" to use Twitter, and there could be job cuts on the table to improve the company's bottom line. Some of Twitter's current employees have criticized Musk's plans for the platform as "incoherent" and lacking in detail. More broadly, Musk has talked about using Twitter to create "X, the everything app." This is a reference to China's WeChat app, which started life as a messaging platform, but has since grown to encompass multiple businesses, from shopping to payments to gaming. "You basically live on WeChat in China," Musk told Twitter employees in June. "If we can recreate that with Twitter, we'll be a great success."

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Twitter Is Now an Elon Musk Company

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  • by rmdingler ( 1955220 ) on Thursday October 27, 2022 @09:39PM (#63004403) Journal

    Twitter will always be associated with him. Now. Is that enough or does he need to make an impression worthy of his $44 billion investment? Tough to be a billionaire, yet immeasurably tougher to be a week to week paycheck reliant bill payer.

  • Ah yes (Score:4, Insightful)

    by ArchieBunker ( 132337 ) on Thursday October 27, 2022 @09:40PM (#63004407)

    Free speech absolutist. Until you talk about Elon. Then he fires you. https://www.nbcnews.com/busine... [nbcnews.com]

    Let's see how long he allows criticism before the ban hammer falls.

    • by drnb ( 2434720 ) on Thursday October 27, 2022 @09:46PM (#63004413)

      Free speech absolutist. Until you talk about Elon. Then he fires you. https://www.nbcnews.com/busine... [nbcnews.com]

      Let's see how long he allows criticism before the ban hammer falls.

      Free speech is for your own time, not your work time, not you coworker's work time. Also it was reported that some of the questionable speech was repetitive and harassing for employees who did not get on board. How dare a coworker not join my righteous cause, they will hear from me.

      • Right, so free speech is for your own platform too. Correct?

        • by drnb ( 2434720 )

          Right, so free speech is for your own platform too. Correct?

          Not your corporate network when a couple of employees are harassing other employees who are not interested in their crusade. Again, repeated annoying emails to coworkers.

    • by Hudson9 ( 10106782 ) on Thursday October 27, 2022 @10:01PM (#63004449)
      Can't believe I was fired after writing a diss letter about my boss during work hours and posting it on our company's internal messaging service :(
      • Re: (Score:2, Informative)

        by xevioso ( 598654 )

        Can't believe Elon's not a Free Speech Maximalist like he said he was. Just another lying hypocrite who supports Republicans.

        • Re: (Score:3, Insightful)

          Just another lying hypocrite who supports Republicans.

          Elon Musk didn't abandon the Democrats. The Democrats abandoned him.

          They attacked him for not paying taxes on money he hadn't earned.

          They attacked him for following existing labor laws rather than the labor laws they wish existed.

          But mostly Democrats don't like Musk because he has shown that capitalism is more effective than big government at running space programs and addressing global warming.

          • Re: (Score:2, Insightful)

            by xevioso ( 598654 )

            Gavin Newsom and the mayor of Fremont, CA, required Musk to retain Covid masking and social distancing restrictions in his Tesla factories. He hated that, because he saw it as government overreach. Whether you agree with that or not, he shortly thereafter decided to move his headquarters to Texas, where cops are now afraid to enforce laws because of all the open carry laws.

            So yes, he did abandon the Democrats, because he didn't like their rules in northern California.

            • Re:The Injustice (Score:5, Interesting)

              by rsilvergun ( 571051 ) on Thursday October 27, 2022 @11:28PM (#63004665)
              He hated it because it marginally slower down production on his line and he had a massive bonus payout tied to meeting sales targets at the time.

              I.e. his employee's lives were deemed less important. I seen to remember it being a large sum.
          • Democrat here (Score:5, Insightful)

            by rsilvergun ( 571051 ) on Thursday October 27, 2022 @11:25PM (#63004661)
            And you're kind of ignoring the fact that he lobbied for the laws he followed, and that he very likely broke some labor laws anyway. Not that we enforce those.

            He didn't abandon the Democrats, he was never with us in the first place. The Democratic party is the party of working class Americans. Musk had never treated anyone who works for a living well.

            We are a bit frustrated that he owes his entire Fortune (at least the parts he didn't get from his daddy's connections) to government subsidies. He's the biggest welfare queen on the planet but hangs with the Republican party.

            The sheer scale of the hypocrisy is frustrating.
            • Re: (Score:3, Informative)

              by Hudson9 ( 10106782 )
              Neither the democratic or republican party is the party of working class Americans. Both are lead by incredibly corrupt bureaucrats whose public relations teams excel at convincing tribalist mongoloids that their team is better and more heroic and will save America and everything will be better if we just give away a couple more rights to be safe and donate to their hundred million dollar PAC fund
              • by rsilvergun ( 571051 ) on Friday October 28, 2022 @12:34AM (#63004795)
                because of winner take all voting. So you can't expect perfection from any one party. If you wanted a true working class party you'd need to completely reform our voting system, but if the Republicans take the Whitehouse again the next January 6th won't end with a transfer of power. It'll end with a President for Life.

                Our voting system forces us to pick the best of 2 imperfect options. Only one of the 2 options is so far gone down the road to fascism we're not longer picking the best of 2 options, we're deciding between fascism and democracy.

                I've already made my choice, now it's time for you to pick yours. And if you're not American you still need to pick. Only the way you pick is by not spreading "both sides" arguments.

                I bring that up because every time I call one of you guys out you tell me you're not an American. Which is weird because you always seem to comment on our political system without understanding it even at the most elementary level...
            • Speaking as one of those working class Americans you are referencing, the arrogance and hubris required to make the statement that the Democrat party is the party that best represents me is breathtaking.

              No, the Democrat party is not the party that represents working class Americans. They are the party that resorts to fear mongering about the end of Democracy as we know it any Republican stands a chance of winning agains them during an election season. They are the party that stupidly claims that if Trump ge

      • Can't believe I was fired after writing a diss letter about my boss during work hours and posting it on our company's internal messaging service :(

        Nailed it like a steel ball on armor glass.

    • It is well known that the biggest abusers of freedom are the ones who were oppressed and then they get power. They are the most scared. Like an abused animal (human or otherwise) .. if you keep a dog caged up on a leash treat a dog like shit, it will bite you and any other human. Its pattern matcher will say human = potential abuser. Same thing with humans. Most mammalian brains cannot handle/channel abuse and mistreatment, even on the petty level (maybe especially on). Why do you think humans have wars? M

    • Re:Ah yes (Score:4, Insightful)

      by xevioso ( 598654 ) on Thursday October 27, 2022 @11:06PM (#63004605)

      Right. Its hypocrisy of the highest order.

      Musk will fire you if you say this on Twitter, but not that. The now-prior-executives would ban you if you said this, but not that; the only, literally the ONLY difference is that they had a set of rules they attempted to follow in how they banned people, with varying degrees of success; now it will be up to one person, Musk. ...except...

      it will still come down to multiple people.
      "Hey boss, this guy wants to tweet the address of home with children of a politician with the times they will be home from school with a gun emoji next to it."
      "Well, ban him."
        "OK, now he does the same thing under a different account with a butter knife emoji. Now what."
        "Ban him, and figure out a policy that will ban stuff like this so you don't bother me because I am building rockets, subways, and robots"
        "Boss, this comes down to people making decisions that are subjective. We need specific guidelines"
        "Ok you are all fired since you can't do your job"

      And that is how this bullshit will end.

      And the assholes will post the politician's family's address the next day.

      Dealing with people who want to use your platform for evil is hard.
      Musk is going to find this out the hard way, as soon as someone uses it to murder a bunch of people in a massacre which WILL happen under his watch, mark my words.

      Free speech absolutist my ass.

    • The Execs were given generous early retirement packages. Arguably voluntary separation plans since they likely agreed to the terms. The former shareholders made out very well thanks to that management team. There interest no longer coincide with new owners. So they get their completion bonus and free to go elsewhere for earnings. Likely non compete and non disclosure part of the deal. Imagine they are happy with the outcome, less so for most others who get fired with not much to tide them over.
  • Trump is a danger to America specifically and democracy in general. What you say does matter. Musk is a genius when it comes to robots, rockets and cars. People, not so much. If he lets Trump back on, I do hope employees working there were smart enough to build back doors into the system to sabotage the company and it's holdings. The future of democracy could be at stake. I'm pretty certain that if he allows Trump back on, we will see a very intense revolt that could destroy or hinder the company.

    And wha

    • Re: (Score:5, Interesting)

      by srichard25 ( 221590 ) on Thursday October 27, 2022 @10:08PM (#63004467)

      If our Democracy can't withstand a single man posting tweets on an internet website then it deserves to die.

      • Re: (Score:4, Insightful)

        by jwhyche ( 6192 ) on Thursday October 27, 2022 @10:27PM (#63004525) Homepage

        Holy fucking shit. They are quaking in their boots that Trump MIGHT return to twitter. To dumb to figure out its better to have him on a public site where any one can read him and contradict him if needed.

        • by AmiMoJo ( 196126 )

          That's what TRUTH Social is for. He can post whatever he likes there, we can keep tabs on him, and his reach is limited.

          The danger with Twitter is that he ends up with tens of millions of followers, and looks like his nonsense is more mainstream than it really is. That emboldens his supporters and we end up with more attacks on democracy.

        • No it's not better to have him out in public. He already was out in public and almost managed to overthrown the government.

      • Re: (Score:3, Insightful)

        by Powercntrl ( 458442 )

        I remember a time when you couldn't even order a pizza on the internet. It's absolutely pathetic that the unwashed masses give a single social media entity this much sway over their political opinions. I miss the internet of the late 90s, when most people seemed to be keenly aware that everything online was complete bullshit.

      • Re: (Score:5, Insightful)

        by rsilvergun ( 571051 ) on Thursday October 27, 2022 @11:29PM (#63004671)
        I disagree. Democracy is inherently fragile. It's something you really only get to keep with great care. We're infants as a species. We need to stop being so full of ourselves.
        • Well said. Democracy has to be cared for, like a good marriage. Failing to restrain one's words wild will kill either one.

      • Re: (Score:4, Insightful)

        by Darinbob ( 1142669 ) on Friday October 28, 2022 @02:42AM (#63004937)

        May as well say "if the Weimar republic can't withstand a single book from a jailed criminal then it deserves to be overthrown". Trump has what he thinks is an army. Though it's not really as big an army as he thinks as there seem to be many of the same faces at every rally. But in those crowds are some true believers. When he sent his mob to the capitol most of them were taking selfies or getting drunk, but there were enough who were taking it very seriously. So many of them gave excuses after being arrested that they were only "following orders". Since when did the president have the power to order civilians around, and would these bozos have followed orders from Obama?" It's utterly stupid, and yet those people exist in high enough numbers to do real damage. The origins of the next brown shirts are already there.

      • can't withstand a single man

        That's disingenuous. Democracy regularly falls at the behest of a single man. The issue at stake here is who is that man, what does he represent, and who follows him.

        You're free to say stupid shit all you want and so am I, we are nobodies, no one will give a shit and our words have no impact. On the flip side the words of a single man led to a violent attempted insurrection during a democratic process last year, because the man in question wasn't some random nobody but rather a voice representing a signific

      • If our Democracy can't withstand a single man posting tweets on an internet website then it deserves to die.

        Except it's not just a single man, it is a group of people with a shared goal of destroying the democratic process. Technically it is two separate groups because one was out for eliminating the peaceful transfer of power to benefit a wannabe snowflake dictator, and the other wants to keep decreasing the size of the electorate allowed to vote so they can make America a Christo-Fascist theocracy. Think Iran, but run by Qnuts and Evangelicals who will punish you for being the wrong kind of Christian, you durt

  • I'm pretty surprised they were able to force him to follow through with the deal instead of weaseling the price down closer to what it was worth by the time he took it over. His timing was bad on this one, to the tune of $10 or $15 billion.
  • by hdyoung ( 5182939 ) on Thursday October 27, 2022 @10:01PM (#63004447)
    Tesla: If he succeeds with Tesla, he'll go down in history as the guy who successfully replaced the internal combustion engine with something superior. His name will be mentioned next to the likes of "Ford".

    SpaceX: If he succeeds with SpaceX, he'll go down in history as the person who demonstrated the next generation of re-useable rockets, cutting launch costs by an order of magnitude and helping humanity into space. If he succeeds in establishing a Mars colony, he'll go down in history next to names like Moses, Ceasar, and Christopher Columbus. He'll be remembered for literally thousands of years.

    If he succeeds with Twitter, he'll be providing a platform where Trump can talk about his stolen election and his pussy-grabbing, and Kanye West can freely talk about going "deathcon 3" on the (insert minority group here) without fear of consequence. Human impact? Zero. Social chatter sites come and go like the wind, and barely leave any trace. They're like tic-tacs. Mmmm minty fresh and then they're gone. Replaced by some other nearly-identical platform.

    One of these things does not fit with the others. What a distraction from his far more important projects.
    • Tesla: If he succeeds with Tesla, he'll go down in history as the guy who successfully replaced the internal combustion engine with something superior.

      Well, different anyway for now and the foreseeable future. You can yak about "superior" after you beat me long distance to my friend's house. In the mean time, I'll leave the light on for you and some suppers in the fridge -- I'm sure there will be a few by the time you get there, depending on which friend we're visiting. :-) On the other hand, for driving around town and daily commutes to work yes, probably better. Less expensive and/or ROI is still arguable depending on use and length of ownership. A

    • In each case, you focus on one aspect of each company, and declare that aspect meaningful or not to humanity.

      While Elon Musk might indeed be unhelpful to mankind by allowing the likes of Trump to abuse the platform, there are so many other ways Twitter might actually make a major impact on humanity. For example, in some authoritarian country, Twitter could be a catalyst for transformation to a democracy. That would indeed be worthy of rivaling SpaceX or Tesla.

    • by xevioso ( 598654 )

      Well there's even more:

      Starlink: If Ukraine succeeds in pushing Russia out or at least retaining the territory they now have without further Russian advancement, it will be partly because of Musk, and his name will go down in history as the man who provided Ukraine the needed tools at a crucial time to retain their independence and halt further Russian western advancement.

      Robots. Robots! Elon unveiled a new walking robot a few weeks ago. I have a deep suspicion this will lead to some world-changing advan

  • You just know that he can't resist the siren's call of a platform to widely spread his own version of the truth.
    • by 93 Escort Wagon ( 326346 ) on Thursday October 27, 2022 @10:08PM (#63004469)

      his own version of the truth.

      That's normally referred to as "lying".

      • It's not lying when you have a billion dollars (or more).

        It's a whole 'nother set of rules for the uber rich.
        • by mark-t ( 151149 )

          It's also not lying if you sincerely believe it.

          This is ultimately how I expect Trump is going to evade all criminal charges, as even in the face of incontrovertible evidence that what he was saying is false, there is no way to prove that he does not genuinely believe the things that he says.

      • by fatwilbur ( 1098563 ) on Friday October 28, 2022 @02:15AM (#63004899)
        Mathematician here, and I’d like to remind everyone that in the world of politics, there exists very little “fact” and often even less “objective truth”. It is conveniently also the area where things are most often proclaimed “incontrovertible fact”, and the players are least likely to analyze and question their assumptions. Funny enough this is a debate I’ve had often and exclusively with those leaning strongly left (I’ll admit a selection bias in most of my acquaintances lean strongly left); one of the best examples is I have heard a number of folks say that “trump is racist” is a FACT. No, Euler’s Identity is a fact, that is an inference made from some evidence. I’ve been angrily dismissed as a trump supporter for this argument a couple timesand of course, they may be correct based on a number of variables/definitions, and my argument may be pedantic. The sad part though is still that few were able to see the difference, and over time there came much more worrisome things they would consider to be “fact”.
        • You have a good point in that political "facts" are rarely objective. But these strongly left people are correct from their own perspective.

          "Trump is okay with pandering to and courting racists" is observably true, and from their perspective, that in itself is racist.

    • According to Trump and the CEO of Truth Social his platform has more "interaction" than twitter.

      • According to Trump and the CEO of Truth Social his platform has more "interaction" than twitter.

        [ non-Trump citation needed (always) :-) ]

  • I bet he screws things up enough that a substantial portion of the population will sour on buying Teslas.

  • by clawsoon ( 748629 ) on Thursday October 27, 2022 @10:07PM (#63004465)

    Tesla Engineers Visit Twitter Office to Review Code for Musk [bloomberg.com]

    Elon Musk asked engineers from Tesla Inc., the electric-car maker he runs, to meet with product leaders at Twitter Inc., moving swiftly to make a mark on the company he’s about to take private, according to people familiar with the matter.

    Earlier Thursday in Twitter’s San Francisco headquarters, product leaders showed Tesla engineers the company’s code, so they could assess and explain to Musk what the company needs, according to one of the people.

    So they've got that going for them.

  • Tesla engineers inside twitter today to get the code and dig into the system for Elon. Twitter employees were locked out of the code at Noon

    https://twitter.com/Rampage95_... [twitter.com]

  • by davide marney ( 231845 ) on Thursday October 27, 2022 @10:18PM (#63004495) Journal

    Sounds like Musk is going to add some moderation and filtering controls so end users can control their experiences. Couldn't come soon enough. Censorship isn't the problem, it's WHO decides. Let users do it, that's the only way you get free speech and civil behavior at the same time.

    • by xevioso ( 598654 )

      Yes, but this is not how you make a profit. If you provide me with an option to skip ads or relegate them to the bottom of my feed I will do it every time.

  • Twitter Is Now an Elon Musk Company

    Spike Lee says: "Nah, that's an Elon Musk Joint."

    Elon takes a drag, holds his breath, and nods sagely.

  • There is nothing special enough about Twitter that should cause any government to *pay* to have their message broadcast.
    In fact, perhaps there should be some kind of channels that Twitter should have to set aside just for such government messages.

  • I just had the disturbing image of Elon Musk in a pink tutu with fairy wings and a wand. He was dancing around the office of twitter handing out pink slips with the touch of his wand.

  • not because of mismanagement (not that it won't be mismanaged) but because Musk either didn't want to or couldn't spend his own money, so he's doing a "leveraged" or "debt" buyout.

    e.g. he's borrowed a ton of money, the debt from which he will shift to Twitter's books. Just like when this was done to Toys R Us it'll mean Twitter doesn't have the capital to run it's business and invest where needed. Eventually it'll collapse as more and more corners are cut.
    • not because of mismanagement (not that it won't be mismanaged) but because Musk either didn't want to or couldn't spend his own money, so he's doing a "leveraged" or "debt" buyout. e.g. he's borrowed a ton of money, the debt from which he will shift to Twitter's books. Just like when this was done to Toys R Us it'll mean Twitter doesn't have the capital to run it's business and invest where needed. Eventually it'll collapse as more and more corners are cut.

      If you had taken the time to study buyouts and mergers in the past 50 years of Wall Street...you would find that most of them are EXACTLY what you are ranting about.

      And using Toys R Us in your argument is absolutely hilarious.

  • that he doesn't plan on making it a "free speech paradise", i.e. that he'll continue to ban people for various TOS violations.

    It remains to be seen if Trump will be back. Trump is still actively inciting violence [cnn.com] as are his water carriers [thewrap.com] so it's clear he shouldn't be let back on. But who knows what Musk's going to do.

    I think it's safe to say if Trump makes it back onto Twitter we're going to see more Stochastic Terrorism, up to and including shootings and deaths. You can't keep pushing extremist's
  • This is great news. If my account can be moved from the table of accounts that can no longer log in without a phone number.

    Even better, if such a requirement is removed from the whole network.

  • It should only allow you to use a proprietary tesla image and video format that is slightly better than jpeg and mp4, but require asinine cumbersome conversion tools only available on IOS and the windows store.

  • Do you Tweet? I don't Tweet.
    Donald Trump famously tweets. News sites tell me when athletes, actors and other famous people Tweet.
    I know hundreds of people, many of them very tech savvy.
    Heck, my kids are very tech savvy as are many of the younger generation.
    SMS, emails, Facebook and many other sites.
    I honestly don't know a single person that Tweets.

  • by DrXym ( 126579 ) on Friday October 28, 2022 @05:07AM (#63005055)
    Every obnoxious asshole who was ever banned will be back and every wannabe obnoxious asshole will be emboldened knowing they won't be banned. At first this won't mean much but over time it will have a corrosive impact on engagement, followers. And of course to advertising revenue. The middle will be hollowed out and it will just be these assholes shouting over each other.

    And of course Apple & Google might decide to delist Twitter if it's not going to moderate content properly. Meanwhile every country and their legislative bodies might decide that if Twitter can't moderate itself then the law needs to and force them to comply.

    Meanwhile Musk will insist this rancourous mess become a bloated hub for stuff it has no earthly reason to be involved with - payments, bookings etc. But all the best Twitter engineers will have left or been thrown out and replaced by god-knows-who. So quality will take a dive and the app will become a buggy, bloated, insecure mess that people have even less reason to install.

    So yeah. Enjoy your overpriced toy Elon because by the time you desperately try to offload it, it'll be worth much less than you bought it for.

  • by dskoll ( 99328 ) on Friday October 28, 2022 @08:32AM (#63005337) Homepage

    He walked into the offices carrying a sink, saying "Let that sink in."

    Actually, Elon buddy, it's more like: "Congrats, you bought yourself a money sink!"

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