elon musk twitter bought whats happening now

Twitter is from Elon Musk who officially bought social media. Musk, owner of Tesla and SpaceX and considered the richest man in the world, completed the $44 billion deal that had been dragging on since late April.

The official announcement of what is a record single-digit acquisition took place on October 27. Musk’s first move? The immediate dismissal of several executives of the company. Starting from the top. CEO Parag Agrawal, CFO Ned Segal, General Counsel Sean Edgett and Vijaya Gadde are paying the price. The latter, a lawyer, was at the head of Twitter’s legal team, as well as the trust and safety division, which, as ilPost.it points out, is responsible for making decisions regarding the moderation of content on the platform, misinformation, hate speech (hate messages) and harassment.

Photo Twitter @elonmusk

Musk later changed his biography on chief app Twit. In his first tweet after the acquisition, he wrote “the bird is released”, in reference to the symbol of the social network, a small bird. On October 27, Elon Musk showed up in person at Twitter’s office with a ceramic sink in his hand, apparently only to play a pun on the English phrase let that sink in, which translates to “think -y for a moment”. or “digest this news”, but it also literally means “let it sink in”.

the bird is released

— Elon Musk (@elonmusk) October 28, 2022

Job cuts

What will happen to Twitter now? Will the social networks most appreciated by the elites experience an unprecedented revolution? It still seems early to tell, but there are plenty of clues. Musk hasn’t really spoken clearly so far. A month ago, he said he wanted to turn Twitter into a “super-app” to expand social media functionality based on China’s WeChat model. A week ago, however, news from The Washington Post revealed how drastically Twitter’s workforce would be reduced in the coming months.

Twitter headquarters in San Francisco, USA. Photo Ansa / Epa John G. Mabanglo

Sources cited by the newspaper say Musk allegedly told eligible investors that the deal to take over the tweeting company calls for the removal of 75% of Twitter’s 7,500 workers. Heavy cuts almost certainly would have occurred even if the richest man in the world had not completed the takeover. What happened instead. And despite the lawsuit Musk faces for initially withdrawing the initial $44 billion takeover bid, and accusing him of breaching last spring’s terms.

Musk and Twitter content

Currently, Twitter employs more than 7,500 people, has more than 200 million users, and last year had revenue of $5.08 billion. However, ilPost.it points out, in recent years it has struggled to find new sources of income. Elon Musk has announced that he wants to make radical changes to reverse this trend. At the center would be the moderation of Twitter content. The new master of social networks is a “freedom of expression absolutist”. Last May, he said he wanted to bring former US President Donald Trump back to the platform. Trump had to suffer the removal of Twitter following some of his tweets that legitimized the attack on Congress on January 6, 2021.

Trump, accused by the House Committee of assaulting his supporters in Congress, may soon return to Twitter. Photo Ansa / EPA Alex Wong

Twitter and elections

“Musk’s approach to free speech on Twitter could exacerbate his problems with toxic content and misinformation,” Kate Conger and Lauren Hirsch wrote in The New York Times. “The first tests in this direction will come in a few days, when Brazil elects its president (October 30, editor’s note) and American voters go to the polls on November 8 for the midterm elections.”