The acquisition of Twitter, the firing of executives, Musk set off a wave of social media reform |

After a series of twists and turns, Tesla CEO Elon Musk’s $44 billion acquisition of Twitter (Twitter) has finally come to an end. The world’s richest man changed his introduction on the social platform to “Chief Twit” on Thursday. ”, Twitter executive.

Twitter’s company logo is a bird, and Musk tweeted: “The bird has finally been released,” hinting that he will be posting more unrestricted content on the social media.

According to an online video, Musk walked into the Twitter office on Wednesday holding a ceramic sink, and in a tweet he wrote: “Let it sink together.” He did not explain more about it, but it has triggered Netizens have heated discussions, and some netizens believe that Musk may have to “show his talents” in the new office.

The deal culminates Musk’s grip on the social media giant. Musk joined Twitter’s board of directors in April after he raised his stake in Twitter to 9.2%, making him the company’s largest shareholder. News of Musk’s acquisition of Twitter has pushed the company’s shares up nearly 25% this year.

Following the Twitter acquisition, Musk is expected to fire the company’s chief executive, Parag Agrawal, along with chief financial officer Ned Segal and head of legal affairs and policy Vijaya Gadde. Musk accused the Twitter executives of driving the number of fake accounts on the social media platform and misleading him and Twitter’s investors.

Musk also issued a lengthy post trying to allay Twitter employees’ fears of imminent mass layoffs and to reassure advertisers that past criticism of Twitter’s content moderation rules won’t hurt the platform’s appeal to advertisers. . It was previously rumored that Musk planned to reduce Twitter’s 7,500 employees to more than 2,000 in the coming months.

He also promised to clean up fake accounts on the platform and make the platform’s algorithm for recommending content to users more open and transparent. Musk has said that more trust needs to be built among the user community, and the way to do this is to open source the algorithm to be open and transparent.

Musk didn’t show systematically how he would build Twitter’s future, though in a tweet earlier this month, Musk said he hoped to develop a new technology called “X” after acquiring Twitter. super application. “Buying Twitter is an accelerator to create X, a super app (everything app),” he wrote.

“X” will essentially become a WeChat-like “one-stop shop” where users can implement almost all daily consumption functions on this app.

However, Musk still faces important challenges to change Twitter, especially in the context of the decline in the proportion of Twitter’s heavy users. Heavy users are those who log in 6-7 days a week and tweet 3-4 times.

Heavy Twitter users currently make up less than 10 percent of total monthly users, but these users generate as much as 90 percent of content and contribute about half of global revenue, according to the latest internal documents. According to Twitter’s second-quarter earnings report, the number of monthly active users was 238 million.

The latest research also found a shift in the interests of heavy English-speaking Twitter users over the past two years, with their interest in news, sports and entertainment waning, potentially making the platform less attractive to advertisers . At the same time, interest in cryptocurrencies among heavy English-speaking Twitter users has declined, and the price of cryptocurrencies hit an all-time high late last year before plunging. Dogecoin surged nearly 35% ahead of Musk’s Twitter acquisition news.

The interest of heavy Twitter users in celebrities such as Kardashian has also been devastated, and entertainment stars have become difficult to become a magic weapon for attracting users on Twitter. This trend may be influenced by the rise of rivals such as TikTok and Instagram, as more and more stars may move to other popular platforms, thereby diverting traffic.

It remains uncertain whether Musk will attempt to become CEO of the company, which has lacked a strong core leader since Twitter co-founder Jack Dorsey abruptly resigned last year. And considering that Musk is already the CEO of three companies including Tesla, SpaceX and Neuralink, it is also questionable whether he still has the energy to invest in a social media.

Tesla investors are particularly sensitive to Musk’s acquisition of Twitter, and they worry that Musk may sell more Tesla stock to complete the Twitter acquisition. Shares of Tesla have fallen more than 36% this year. But Musk said at this year’s earnings conference: “Tesla’s market value will definitely exceed the combined value of Apple and Saudi Aramco in the long run.”