Just two days after buying Twitter for $44 billion. Elon Musk has shocked Twitter with a new move. What is Elon Musk's new move as the Twitter owner. And how does it affect you as a Twitter user? Join me today in this blog, as we explore Elan's new move that is changing everything on Twitter, Tesla, billionaire Elon Musk has just hit the ground running after buying 100% stake in.
He has started making the changes that he had promised before buying the social media company after almost two weeks of speculation and uncertainty, the Twitter board agreed to Elon Musk's offer of taking the social media site private. However, the agreement was reached after lengthy discussions that were done during the weekend of 24th and the 25th of April.
After a lot of bargaining, the Tesla CEO agreed to add $1 billion to his initial offer of $43 billion. As such an agreement of $44 billion was reached as revealed by the then Twitter board chairman, Brett Taylor, via a tweet that reads the Twitter board has reached an agreement with Elon Musk Musk also confirmed the purchase in a tweet that reads, I hope that even my worst critics remain on Twitter because that is what free speech means after the purchase Twitter co-founder and former CEO, Jack Dorsey also weighed in on the.
From the beginning, Jack had been rooting for Ilan to take Twitter private. At one point, the Twitter co-founder attacked the board for frustrating Musk's effort of buying the company. On the 15th of April, the Twitter board had adopted a poison pill approach that was meant to make the Twitter takeover more complicated.
He even accused the board of taking his shares in a tweet that. When I was fired in 2008 and made share the board took most of my shares away from me. I also gave 1% of the company back to the employee pool in 2015. So ended up with very little of the company, but now Jack is a happy man. After the success of the Twitter takeover, he believes that his friend Ilan has what it takes to fix the problems that have been plaguing the company for a long time.
In the recent past Twitter has been facing some great financial challenges for the better part of 2022. The Twitter share price has been between $33 to $38. However things took a new turn when Elan bought a 9.2% stake in the company on the 4th of April for $2.9 billion immediately after Musk bought the stake.
The share price increased by 27%, which made the share price rise from $38 to 47. Jack is optimistic that the Tesla billionaire has the perfect solution to Twitter as seen in his tweet that reads in principle. I don't believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company solving for the problem of it being a company.
However, Elan is the singular solution. I trust. I trust his mission to extend the light of. You can trust that Elon has all it takes to make Twitter great. Again, as soon as the Tesla CEO took over the microblogging platform, he immediately outlined his plan and vision for the company. In the statement that reads free speech is the bedrock of a functioning democracy.
And Twitter is the digital town square where a matters vital to the future of humanity. Our. I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open-source to increase trust, defeating the spam bots and authenticating all humans. Twitter has tremendous potential.
I look forward to working with the company and the community of users to unlock it. The tech billionaires new moves have shocked Twitter as they are meant to totally change everything for the social media plan. Just as Musk had promised, he has made an insane move of eliminating ads on the social media platform.
The tech icon had earlier on hinted on doing so when he made a tweet that reads and no ads, the power of corporations to dictate policy is greatly enhanced. If Twitter depends on advertising money to survive. However, he deleted the tweet a couple of hours after. Before the Twitter takeover advertising accounted for about 90% of Twitter's revenue, but the firms struggled to learn advertisers to the platform which frequently devolved into political firestorms and nasty online brawls.
The corporation will no longer be under the same pressure from shareholders to consistently increase advertising income. Now that it is. Twitter had tried to address the issue at advertisement last year, when they introduced the Twitter blue service, where users who have subscribed to the service, do not see adverts.
Musk has stated that Twitter blue users should not have to view advertisements and that the cryptocurrency doge coin, which began as a joke, should be accepted as a means of payment for the Twitter blue members. Twitter blue is a premium service that costs $3 a month and includes features such as an undo button that allows users to retract tweets before they are published in the latest move he has made.
The tech billionaire will be reducing the Twitter blue subscription from $3 to $2 per month. He is also likely to add a few value added services, to get more users to sign up for Twitter. As much as doge coin will be used to pay for Twitter blue, the Tesla billionaire has made a big move of fighting crypto scams on the social media platform for crypto fans.
Twitter is the go-to site. Unfortunately it is also home to some of the most well-known cryptocurrency scams, which must himself has fallen prey to scammers have used false identities on social media sites to impersonate Musk as a way of conning and stealing cryptocurrency. Musk's personal account was one of the few high profile Twitter accounts hacked to promote a scam in 2020 Musk recently declared on Twitter that if his acquisition bid is successful, he will do all it takes to defeat spam.
Elon Musk has been a vocal supporter of digital currencies and a number of alternative coins. Despite the fact that Bitcoin and Ethereum mining are incredibly harmful to the environment. He played a key role in making Tesla one of the first prominent automotive businesses to accept cryptocurrency payments.
However, must stop the Tesla payments via Bitcoin and will only resume them. As soon as the digital currency starts using sustainable sources of. As a crypto enthusiast Musk will make sure that he throws all crypto scammers out of Twitter. Elon Musk has also introduced an edit button on Twitter. Users would be able to correct typos or errors in a tweet using the edit tool without losing the replies retweets or likes previously received.
However, the question remains as to how to put it in place while avoiding abuse, such as modifying statements after they have been retweeted or endorsed by. And easy option would be to track modifications through a log of revision, similar to Facebook and slack, where people can check the history of changes on a post earlier.
Elon Musk had conducted an online poll via a tweet where the Twitter users were to vote on whether they wanted an edit button, his tweet reads. Do you want an edit button more than 4.4 million people participated in the poll? A majority of Twitter users, 73.6% supported the idea of an edit. Musk has made a great move of improving Twitter, that former Twitter board chair, Brett Taylor failed to do for a long time.
Most users are excited about the new changes as they are meant to improve the air experience on the micro-blogging platform. After the improvements, the platform is poised to be a great competitor to other sites in the social media space. Facebook Tik, TOK, and WhatsApp will be some of the greatest competitors of Twitter.
Under Musk Musk will help Twitter achieve its full potential. Currently Twitter is not competing accordingly with its competitors. As it only has 400 million users, while Facebook has 3.5 billion users and WhatsApp has more than 2 billion active users. Even the newly founded tick-tock has more than 1 billion users, which is more than double the number of Twitter users with Musk's new move.
The number of Twitter users will increase that in alarming. Elon Musk's new move of reforming Twitter in his first days has shocked the Twitter board who failed terribly in the job with Elan's new move. He will achieve in months, but the Twitter board failed to achieve in years. Anyways, guys, if you want to see more interesting videos, click the video right above.
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