What Will Happen to Twitter after Elon Musk Acquisition?
Tesla CEO, Elon Musk has finally completed his $44 billion acquisition of the well-known social media platform, Twitter, after experiencing many ups and downs as well as several problems. It was reported that Twitter’s CEO and executives were also ousted and had to leave there.
After Elon Musk was declared to have officially taken over Twitter, questions are starting to emerge, including whether Elon’s plans with the Twitter platform are in the week or in the next few months. Elon Musk is known to have an eccentric mindset and attitude.
The billionaire had considerable ambition and he never seemed to have any doubts about the idea. Although in achieving the idea he did not know in detail how to achieve it. Here’s what might happen to Twitter from now on.
Freedom of Speech Issues Beginning to Be Addressed
Controversy has started to arise since the news emerged of the acquisition of Twitter that will be carried out by Elon Musk, as the richest person in the world today, he has serious concerns about the right to free speech. Elon is indeed known as a person who prioritizes absolute freedom of speech, he even declared himself and voiced concern to platform users who he thought might be treated unfairly by posting belittled simply because it does not match the algorithm that has been set to be seen by the users.
Elon is concerned about having an anonymous tweet being promoted or taken down as a sign of notification and also without a thorough review based on general insight into the current trend, that’s what he’s worried about, and thinks using an open-source algorithm could solve the problem.
In September there was a cache of text shared in the archive, which came during an attempt by Twitter to bring Elon Musk to justice in a Delaware court. This was caused by Elon’s actions at that time trying to cancel the agreement made, and this seemed to prove his concern even more.
From the same cache, there is an input or idea from Mathias Döpfner who serves as chief executive in a media group called Axel Springer, which includes Politico, he asked Musk to make Twitter a censorship-free platform and also develop an algorithm market that allows users can choose the algorithm according to what they want, for example, if you are someone who has a shaky heart, then you can choose another algorithm that is safer for your mood.
Cost Cut Application
There was a $13 billion cost in bank loans to finance Musk’s acquisition of the Twitter platform and it will be added to Twitter’s balance sheet. The debt must be paid, however, and by the time Twitter enters its new state of affairs, Twitter will be running a negative free cash flow, meaning it requires spending more than it actually needs to run the business, and that’s nearly $124 million. Twitter’s financial policies need to be improved; on the other hand, Elon Musk’s cost-cutting has been announced.
According to a report from the Washington Post after the document was viewed, Musk had announced that he had plans to cut staff by up to 75% to investors who wished to participate in the acquisition process.
On October 5 during his first visit to Twitter, Musk said that he would not lay off many workers, but that he would still reduce the total 7,500 employees employed on Twitter.
