Newspapers, publications, and sports teams are all purchased by billionaires. Elon Musk has purchased a social media platform that he concedes may compel most of the planet to despise him.
During an on-stage interview at the Press event on 21st April, Musk stated, “Everyone will still accuse me of everything. If I own Twitter then something goes awry, it’s entirely my problem. I believe there will be numerous mistakes.”
It appears to be promising. So, why does the country’s wealthiest man who have already owns dozens of companies with big aspirations like sending humans to Mars would like to purchase Twitter, a social media platform that, despite its many advantages, is under fire for impact on different like inciting hatred and misinterpretation, and is also struggling to rekindle user engagement?
Seasoned Twitter professionals, according to Jenna Golden, who oversaw the company’s congressional sales force in Washington from 2012 to 2017, are also used to, especially for large shifts. She believes that many people are burying their heads in the sand and relying on their members to help them survive. Musk’s erratic behavior, on the other hand, may make it tough to maintain concentration.
In a press conference announcing the $44 billion acquisition, Musk said during a speech. “I also want to make Twitter better than it has ever been by introducing new features, opening up the analytics to inspire confidence, combating abuse algorithms, and validating all users. Twitter has tremendous opportunities, and I’m excited to stay with the team and the Twitter ecosystem to realize it.”
We take a gander at what Elon intends to do with Twitter currently that he is on the cusp of purchasing it permanently (remember, the Securities and Exchange Commission of the United States can still cause some complications), once he has full ownership and control. He might change the six things about Twitter.
1. Tweak the way content is monitored
One of Musk’s major grievances with Twitter is the lack of transparency with which the social media network monitored its contents. Many people, including Musk, have believed that some of Twitter’s judgements involving public leaders’ profiles and messages have been capricious at moments and outright unethical at others over the decades.
Musk previously surveyed Twitter to see if users thought the platform protected free expression. He also inquired, “A functional democracy requires free expression. Do you think Twitter follows this rule to the letter?” The overwhelming majority of the 2 million respondents said no.
2. Bots and cryptocurrency scams must be eliminated.
Elon Musk has been a vocal supporter of cryptocurrencies and a variety of alternative currencies. Ignoring the fact that Cryptocurrency and Bitcoin production is incredibly harmful to the environment, he played a key role in creating Tesla one of the first prominent automotive businesses to accept cryptocurrency payments. This denied the reality that almost all Tesla programmers believe that crypto’s high power requirements are incompatible with the company’s values.
3. Keep An Edit Button Available
There are plenty of opinions on whether or not Twitter might have an editing tool. Whatever side of the debate you’re on, it’s tough to dispute that the blogging site, like most other networks, could include an edit option. When Musk sent out a tweet asking if users wanted an edit ‘button,’ over 4 million people answered, with nearly three-quarters saying yes.
Because Twitter is the social media site where most people obtain their news, Twitter has rightfully pointed out that such a tool might lead to misuse. In a 2020 interview, Jack Dorsey stated that Twitter would never have an edit option if he had his way. Parag Agrawal, too, commented on Musk’s post, urging citizens to click carefully because of the potential ramifications.
4. Twitter’s Algorithm Should Be Revealed
Musk has said for a long period that all social networking sites should declare their technology open source. He thinks that this will allow people to not only see how programs influence the information they ingest, but also to pick which model drives the information they are provided. Despite his ambiguity about what an open-source Twitter would comprise, this will be one of his most important undertakings at Twitter.
5. How to Get Rid of Ads
“And no ads,” Musk said on April 9th, referring to Twitter’s pricing structure. If Twitter relies on advertising revenue to stay afloat, companies have a lot more ability to dictate regulation. The tweet has subsequently been deleted by Musk. There’s also a high possibility he’ll stick with a program like Twitter Blue, which charges $3 per month. To entice additional people to join up for Twitter Blue, he’ll probably introduce just several real worth features.
5. Media Channel of His Own
Now we’re going towards the more dangerous and complicated territory. The majority of billionaires, particularly in the United States, own a media company. The Washington Post is owned by Jeff Bezos, Bill and Melinda Gates have donated up to $319 million to multiple news organizations and Bloomberg is owned by Michael Bloomberg.
Legacy advertising, on the other extreme, has had a troubled relationship with Musk. He was so upset with Tesla’s media outreach division that he decided to shut it down.
Given that the majority of people get their news from Twitter, it’s not unreasonable to believe that Musk, being the ambitious guy that he is, resolved to monopolize the platform through which people acquire their news. After all, it’s a medium.