Elon Musk finalizes the purchase of Twitter and shows the door to the CEO and CFO.
After fully taking over Twitter, Elon Musk fired the CEO of Twitter, Parag Agarwal, the Chief Financial Officer, Ned Segal, and the head of legal, Vijaya Gadde.
Vijaya was working to remove misinformation and hateful speech and make Twitter safe for users. The Twitter account of the former president of the US, Donald Trump, was banned last year, and Twitter said his account was permanently banned for violating Twitter rules. Vijaya, the head of legal, policy, and trust at that time, played a key role in banning Donald Trump’s account.
Reuters mentioned that Elon tried to convince employees who were in fear of sacking. Elon changed his bio to “Chief Twit” before finalizing his Twitter deal. He visited the Twitter headquarters in San Francisco and walked in with a sink in his hand. He posted the video on Twitter and wrote a hilarious caption, “Entering Twitter HQ – let that sink in!”
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
Why Elon Purchased Twitter
Elon issued an open letter to advertisers where he also disclosed his reason for buying Twitter. He said that he aims to provide a platform where people can have healthy debates without violence. According to Musk, social media is currently at huge risk of generating hate and violence, which can divide our society.
He said, “In the relentless pursuit of clicks, much of traditional media has fueled and catered to those polarized extremes, as they believe that is what brings in the money, but, in doing so, the opportunity for dialogue is lost.”
The billionaire further mentioned that he purchased Twitter not because he wanted to make more money from it but because he wanted to help humanity. He said that even if we give our best possible efforts, there are still chances of failure.
Elon Musk’s Assurance to Twitter Advertisers
Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS
— Elon Musk (@elonmusk) October 27, 2022
Elon said in his tweet that he believes advertisement is an excellent source of information and entertainment when done right. It can show products and services people don’t know but are right for them. Elon thinks it is very important to show users advertising that is as relevant as possible to their needs.
“Low-relevancy ads are spam, but highly relevant ads are actually content!” says Elon.
Elon Musk desires to make Twitter the most respected advertising platform in the world. He assures advertisers that Twitter will strengthen their brand and grow their enterprise.
What Can Be Expected Next?
Elon has taken some bold moves instantly after the completion of the deal. Considering the fact that Vijaya Gadde, who was in charge of moderating the speech, is no longer in office, the prospect of misinformation or hate speech is unpredictable until a new person takes charge.
Many Twitter users celebrated Elon’s takeover as freedom of speech was promised.
If the restrictions on free speech are lifted, Twitter users can breathe a sigh of relief. However, it can create a baffling atmosphere for Twitter advertisers and brands, as they’d never want to see their brand names and advertising next to hate speech or misinformation.
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