Elon Musk is said to have acquired Twitter on Friday night after paying $44 billion. Now many of the management group is disappearing, according to international media.
It is not yet confirmed that the trade has been completed. A number of international media including BloombergAnd the The Wall Street Journal And the financial timesHowever, it receives this information from sources.
Media sources have said that Twitter CEO Parag Agrawal and Chief Financial Officer Ned Segal are among the company’s top executives who will not join the company.
The sources told the Wall Street Journal that they were said to have been fired The New York Times. For its part, Bloomberg reports that Agrawal does not plan to continue.
Twitter has yet to comment on whether the trade has actually completed.
About three hours after the media began confirming the purchase was complete, Musk came up with a vague confirmation in the form of a nod toward the company’s logo.
– The bird has been released, Musk writes on Twitter.
Changes to the company were expected in advance when Musk now takes ownership. He has previously expressed a lack of confidence in the administration, according to Bloomberg.
It became known Thursday morning, that Twitter’s stock was suspended from trading as of Friday, according to Reuters, which indicated the New York Stock Exchange.
It may have consequences
Musk’s takeover of Twitter could have real-world consequences. The first tests will come in a few days, as there will be presidential elections in Brazil and elections to Congress in the United States.
Twitter said it would prevent misleading claims about voting and election results, but that was before Musk owned the company.
There could be real-world consequences to his ownership, law professor David Kaye tells the New York Times about Musk’s ownership. Kaye works at the University of California and previously worked with the United Nations on freedom of expression.
– If world leaders see that they are given an unsupervised platform, they may pay to see how far they can go.
He did it for humanity
In a Twitter message on Thursday, Musk wrote about what he wants to achieve with the acquisition.
If Musk is to be believed, he has only altruistic motives for trading. In the letter to advertisers, he claims that money is not the reason for the purchase.
The reason I buy Twitter is that it is important for the future of civilization to have a common digital arena, where a wide range of opinions can be discussed in a healthy way, without resorting to violence, Musk writes.
He worries that social media is about to split into echo chambers on the far right and far left of the political scene, and that this will divide society.
He goes on to refer to traditional media, and believes that clickbait has sparked this polarization. He believes that this business model has destroyed the dialogue.
– That’s why I bought Twitter. I didn’t do it because it would be easy. I didn’t do it for the money. I did it to help the humanity that I love. I did it humbly, the entrepreneur writes.
It also acknowledges that it may fail in its attempt to preserve the digital exchange of words.
You won’t open up to everything
Critics of Musk’s takeover of Twitter fear that he will open the platform to everything, and that any expression will now be accepted on the platform.
Musk has on several occasions criticized social media platforms for blocking users, including Twitter “censored freedom of expression” when they banned Donald Trump. He said in the post that he still did not want to open the dam completely.
Twitter cannot be a safe haven, where anything can be said without consequences. In addition to complying with state laws, the platform should be warm and hospitable to all, he writes.
When it comes to the revenue model, it may seem that Musk wants to develop the Twitter ad model further.
– I think an advertisement can excite you, amuse you and inform you if done correctly. They can offer you a service, product, or treatment that you didn’t know you needed. He writes that if this is going to work, it should show Twitter users relevant content.
He ended his message by urging advertisers to join in and “build something extraordinary together.”
“Coffee trailblazer. Certified pop culture lover. Infuriatingly humble gamer.”