Elon Musk says, he has improved ‘Corrosive’ Twitter for most users | Tech News

Elon Musk says, he has improved ‘Corrosive’ Twitter for most users

Elon Musk, speaking at a conference in Paris, said that he bought Twitter Inc. because the social network was having a “corrosive effect” on civil society that he hoped to improve.

By:BLOOMBERG
| Updated on: Jun 17 2023, 07:47 IST
In Pics: Your Twitter has been changed forever by Elon Musk
Elon Musk
1/7 Twitter top officials fired: As soon as Musk took over Twitter, he fired the top executives including CEO Parag Agrawal, CFO Ned Segal, legal affairs and policy chief Vijaya Gadde. That was the first decision taken by Musk at Twitter. On Friday, Twitter also laid off 50 percent of its employees and Musk defended the step by saying that this is being done in an effort to place Twitter on a profitable path. (AFP)
Elon Musk
2/7 Charges for Blue Tick: Twitter users who want a verified account will now have to pay charges for the same as Twitter will now charge $8 for Blue Tick. Musk supported the decision by posting a number of tweets regarding the same. He believes the subscription fee will give Twitter 'a revenue stream to reward content creators' while the company will not have to depend on advertisers. (REUTERS)
Elon Musk
3/7 Twitter Content Moderation Council: Twitter will set up a content moderation council with widely diverse viewpoints. The council will be accountable for all main content-related decisions. (AFP)
Elon Musk
4/7 Advertisers: General Motors, General Mills, Audi of America, Oreo maker Mondelez International, Pfizer Inc and Ford are some of the corporate companies who have distanced themselves from Twitter. Several advertisers have suspended ad spending on Twitter altogether. (REUTERS)
Elon Musk
5/7 Changes to Twitter's homepage: Musk requested that users who have logged out of Twitter and visit the homepage of Twitter's site to be redirected to the Explore page which shows trending tweets and news stories, according to a report by Verge. (REUTERS)
Elon Musk
6/7 Vine: Musk put up a poll on Twitter asking people if he should bring back Vine. (AP)
Elon Musk
7/7 Removal of Days of Rest: Days of Rest has been removed from the calendars of the Twitter employees. It can be known that the Days of Rest refers to the monthly days off to let employees rest and recharge. (AP)
Elon Musk
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Elon Musk, billionaire and chief executive officer of Tesla, at the Viva Tech fair in Paris, France, on Friday, June 16, 2023. (Bloomberg)

Elon Musk, speaking at a conference in Paris, said that he bought Twitter Inc. because the social network was having a “corrosive effect” on civil society that he hoped to improve.

“My hope was to change that and have it be positive for civilization,” he said as part of a wide-ranging discussion at the VivaTech conference on Friday in front of a crowd of about 4,000 people. Musk said he believed that most regular users of Twitter would say that their experience on the site has improved.

Musk also expressed optimism about new Chief Executive Officer Linda Yaccarino's ability to court advertisers. Use of the network is at an all-time high and that “almost all the advertisers have said they have either come back, or they will come back,” he said.

When Musk took over, advertisers began fleeing Twitter because they were concerned about the type of content their ads would appear next to. Since October, Twitter's advertising revenue has declined by 50%, Musk said in March. Twitter recently lost two executives in charge of making sure the site was moderated for violence, hate speech, pornography and other content that businesses are hesitant to promote their products alongside.

Musk hired Yaccarino, a former NBC Universal ad executive, to improve the company's relationship with brands. He said she'd do “great job” handling “advertisers' concerns” about posting ads on the social network.

Still, he quipped about his $44 billion purchase: “If I'm so smart, why did I pay so much for Twitter?”

Musk, who was interviewed on stage by ad industry veteran and Publicis Groupe SA Chairman Maurice Levy, also used the platform to repeat his concerns about the dangers of letting artificial intelligence develop unchecked.

“There is a great danger for digital superintelligence having negative consequences,” the billionaire said. “If we are not careful with creating artificial general intelligence, we could have potentially a catastrophic outcome.”

While the results of the technology, that he called the “most disruptive ever,” could also be positive, he stressed that there is “a risk to the public for sure,” and the technology should be regulated.

Musk also predicted his Neuralink Corp. would carry out its first human implant later this year. Last month, Neuralink said it received approval from the US Food and Drug Administration to conduct human clinical trials. Calling progress “slow,” Musk said the aim is to restore full-body use to a person who has lost it.

Earlier on Friday, he had lunch with Bernard Arnault, the French billionaire who temporarily surpassed Musk to become the world's richest person. Musk recently reclaimed his title from the CEO and controlling shareholder of LVMH Moet Hennessy Louis Vuitton SE after investors sold luxury stocks.

Musk also met with French president Emmanuel Macron, who has lobbied Musk to build a factory in the country. Macron said before the meeting that he wanted to discuss AI, social media and the regulatory framework for social networks.

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First Published Date: 17 Jun, 07:02 IST
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