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Elon Musk inside Twitter: In just 4 days, Twitter has already changed in a big way 

Elon Musk inside Twitter: In just 4 days, Twitter has already changed in a big way 

Twitter has witnessed a host of developments since Elon Musk took over the company on Friday, and more changes are to follow soon. Here is a quick summary of all the big news that has come out of Twitter so far.

SUMMARY
  • Musk fired top executives as soon as he took over. 
  • Musk has also dismissed Twitter's board of directors to become its sole director. 
  • Musk plans to charge a monthly fee from the verified users on Twitter.

Twitter is going through a number of changes since Elon Musk took over the micro-blogging site. He has reshuffled the management and has gotten rid of the top executives. He is now the sole director in the board as he dissolved the Twitter board too, after firing the executives. Musk is also planning to make a lot of changes in the way the micro-blogging site functions. The Blue Tick aka verified users are the next in line as Musk plans to charge a monthly fee from them. Besides that, a content moderation panel is also in the works.

In less than a week after becoming the Twitter chief, Musk made dozens of changes to the company as well as the platform. Here is looking at everything Musk has reportedly done in his first week as Twitter's Chief Twit.

Fired Twitter CEO Parag Agrawal and other executives

Possibly the most predictable thing Musk did after acquiring Twitter was show the door to Twitter CEO Parag Agrawal, company's legal and policy chief Vijaya Gadde, and CFO Nel Segal. Musk was overly critical of Twitter's management much before he acquired the company. From publicly attacking Gadde to ranting against Agrawal in leaked chats, Musk did it all. He accused the Twitter management of misleading and hiding data related to spam bots from him.

Read more: Twitter CEO Parag Agrawal fired by Elon Musk, but he is leaving a very rich man

Dismissed Twitter board to become the sole director

Musk not only fired the top Twitter executives but also fired the board of directors to gain sole control over the social media company, according to the documents filed with the US Securities and Exchange Commission (SEC) revealed. However, reacting to a news report on Twitter, Musk called the changes "temporary", which is indicative of the fact that Musk will probably form a new Twitter board in future with people who he thinks will represent the true ideals of the his Twitter.

Read more: Elon Musk fires entire Twitter board to become sole director

Set to charge money from verified users

Twitter's verification process has become less rigid in the past couple of years. Twitter, in fact, had revamped its verification process and reopened the panel after three years. Musk now wants to charge money from the verified users. As per reports, Twitter will now start charging $20, which is roughly Rs 1689 in India, per month for people who have a blue tick on their profiles. The news has obviously not gone down too well with the verified users as the idea of paying a monthly fee to retain a badge on social media is not too appealing.

Author Stephan King recently took to Twitter to criticize the micro-blogging site's upcoming mandate. He said, "$20 a month to keep my blue check? Fuck that, they should pay me. If that gets instituted, I'm gone like Enron."

His tweet got a reaction from Musk, who said that he is planning to charge a fee from verified users as the company "needs to pay the bills".

He tweeted: "We need to pay the bills somehow! Twitter cannot rely entirely on advertisers. How about $8? Musk further added that he will explain the rationale in longer form before this is implemented. It is the only way to defeat the bots & trolls."

Read more: Elon Musk wants verified Twitter users to pay $20 per month, or lose Blue Tick

A war room inside Twitter

It is being reported that Musk has pulled around 50 trusted employees from Tesla to work on Twitter. As per reports, people from Musk's other companies are now looking at directing teams inside Twitter. Musk has sort of created a war room inside the company has brought some of his close friends and colleagues, including Jared Birchall, angel investor Jason Calacanis, and founding PayPal chief operating officer and venture capitalist David Sacks. Two people with the same surname as Musk, James and Andrew Musk, are also looking at affairs inside Twitter.

Other than that, Musk has also brought one of Twitter's former employees, Sriram Krishnan. Announcing his work with Musk, Krishnan posted on Twitter and said, "Now that the word is out: I'm helping out @elonmusk with Twitter temporarily with some other great people. I believe this is a hugely important company and can have a great impact on the world and Elon is the person to make it happen."

Expected to cut down staff by almost 25 per cent

There is still no clarity about how many people Musk is planning to fire at Twitter. But reports are hinting at different numbers. One report earlier said that almost 75 per cent of all Twitter employees will be asked to go by Musk. But a new report says that the number is 25 per cent. Irrespective, it is clear that mass layoffs are coming at Twitter. Musk believes that Twitter has way too many people in supervisory roles and not enough engineers and coders. He also reportedly believes that Twitter's revenue per employee is significantly lower than that of Facebook. Chances are that with layoffs, he not only wants a lean and trim workforce but also probably hopes to reduce the company's costs significantly.

Read more:Elon Musk plans to lay off 75% of staff if he takes over Twitter: Report

A New York Times report claimed that Elon Musk has ordered job cuts around the company. The news report had claimed that Musk had planned to lay off employees before November 1 to avoid paying them stock grants, which represents a significant portion of employee's pay. However, Musk falsified the reports. But this certainly does not end the chatter around the impending layoffs. Although Musk has now denied the reports, he had discussed trimming the workforce a couple of months ago when the Twitter acquisition had not taken place.

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Published on: Nov 01, 2022, 1:24 PM IST
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