Elon Musk, CEO of Tesla, wants the world to know that Twitter is about to undergo a major overhaul. Twitter said on Monday that it has struck an agreement with Musk, who will purchase the popular social media platform for $54.20 per share in cash, valuing it at around $44 billion. Musk made the statement after declining an offer to join the board of Twitter. Tesla CEO Elon Musk holds a 9.2 per cent interest in Twitter, making him one of the company’s most significant investors.
As a result of Twitter’s agreement with Elon Musk, there has been conjecture about what the social media site’s future may hold. Twitter’s board apparently began to take Musk’s bid more seriously when he gave more specifics about how he planned to finance the prospective purchase after the sale first looked implausible.
Musk added in a statement that “free expression is the core of a functional democracy, and Twitter is the digital town square where things crucial to the survival of mankind are debated. “Adding new features, making the algorithms open-source, combating spam bots, and authenticating all people are some of the other ways I hope to make Twitter better than it is now. I look forward to working with Twitter and the community of users to realise Twitter’s full potential.”
In the same way that other Twitter users have shared their ideas on what needs to be addressed on the platform, Tesla CEO Elon Musk has done the same. Combined, Twitter CEO Parag Agrawal and co-founder Jack Dorsey have less social media clout than Apple CEO Tim Cook. It is seen in these tweets how much he loves and hates Twitter.
Twitter under Elon Musk’s leadership will undergo a major transformation in the following four areas.
Content Moderation
Before he revealed his investment in Tesla, Elon Musk has been tweeting about what is and isn’t permitted on Twitter. For example, at the end of March, Musk conducted a Twitter poll to see if respondents thought Twitter protected free expression. Poll findings are “extremely significant,” he added.
Tesla CEO Elon Musk shared a tweet “In order for a democracy to work, the right to free expression must be guaranteed. Does Twitter, in your opinion, adhere to this idea to the letter?” A whopping 70% of the 2 million people who took the poll said no.
Fight frauds in the cryptosphere
Scams using cryptocurrency have been a source of frustration for Musk and Twitter alike.
Fraudsters have taken to social media in an attempt to fool people into handing up their bitcoin under the guise of Elon Musk. As of 2020, Tesla CEO Elon Musk’s Twitter account was one of several high-profile accounts hacked in an attempt to promote a bitcoin fraud.
The edit button
Even though Twitter users have long sought an easy method to fix typos and other errors in their messages, the functionality hasn’t been a major priority for Twitter. Twitter included a means to erase tweets in its $3-a-month Twitter Blue membership option.
Transparency in Twitter’s algorithm
Users of Twitter, Facebook, and other social media sites have claimed that algorithms have taken over their life and compelled them to spend more time online. Chronological tweets are preferred by certain Twitter users. After several user concerns, Twitter reverted back a modification that would have displayed the algorithmic feed by default.
In a tweet, Elon Musk proposed that Twitter might open-source the algorithm. Open-source software, which Musk did not elaborate on, is accessible for free and allows users to make changes to it. On the 24th of March, he put the question to the public. Almost eight out of every ten people who took part in the survey agreed.
