Shocking U-turn! Here is what Elon Musk wants Twitter to be | Tech News

Shocking U-turn! Here is what Elon Musk wants Twitter to be

Elon Musk's Twitter deal's completion marks an end to a six-month-long saga.

By:REUTERS
| Updated on: Oct 28 2022, 10:55 IST
Elon Musk, Twitter deal done. Now, beware of hate speech?
Elon Musk Twitter Deal
1/5 Not even in the hot seat yet and Elon Musk already faces a series of challenges. Musk, in the past, had criticized Twitter’s moderation policy and called for almost unfettered freedom of speech on the platform. (REUTERS)
Elon Musk Twitter Deal
2/5 According to Reuters, one of the first decisions by Elon Musk as the new Twitter boss will be user-friendly tweaks to the social media platform, such as the inclusion of an edit button. Users have been longing for an edit feature on the platform. (REUTERS)
Elon Musk Twitter Deal
3/5 Musk also calls himself a free speech absolutist and wants Twitter’s algorithm to lower its moderation criteria and re-instate banned personalities such as former President of the United States Donald Trump. Elon Musk said in a statement, "Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.” (AFP)
Elon Musk Twitter Deal
4/5 This has received a mixed reaction from the public where conservatives welcomed the prospect of fewer controls whereas human rights activists expressed concern towards a potential rise in hate speech, according to Reuters. (REUTERS)
Elon Musk Twitter Deal
5/5 Former Twitter CEO Jack Dorsey had been in Elon Musk’s corner for a while and thanked both Musk and current twitter CEO Parag Agrawal in a series of tweets. He said in a statement "Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step.” (AFP)
Elon Musk Twitter Deal
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Elon Musk wants Twitter Inc to be "the most respected advertising platform". (Elon Musk Twitter handle)

Elon Musk, who once tweeted "I hate advertising", did a shocking U-turn today and said he wants Twitter Inc to be "the most respected advertising platform", in a bid to gain the trust of ad buyers ahead of the expected close of his $44 billion deal for the social media firm.

Musk, Twitter co-founder Jack Dorsey and investors in the deal had previously suggested moving away from advertising and seeking revenue from subscriptions and other means. Advertisers have also told Reuters they were apprehensive of the takeover.

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"There has been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong," Musk said in a tweet on Thursday.

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"Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand grows your enterprise."

Musk also responded with "absolutely" to a tweet calling for top content creators on Twitter to be compensated similarly to other social media platforms.

Ad sales accounted for more than 90% of Twitter's revenue in the second quarter, and Reuters reported earlier this week that the company was struggling to keep its most active users who are vital to the business.

That underscores the challenge faced by Musk, who visited Twitter's headquarters in San Francisco on Wednesday and also hinted at being the company's top boss by updating his profile bio to "Chief Twit".

In his tweets on Thursday, Musk also said he wanted Twitter to be "a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence".

The self-described "free speech absolutist" said in May he would reverse Twitter's ban on former U.S. President Donald Trump, who was removed from the microblogging site in January last year over the risk of further incitement of violence after the storming of the U.S. Capitol.

The question of reinstating Trump on the social media platform has been seen as a litmus test of how far Musk will go in making changes, even though Trump himself has said he would not return.

Twitter deal's completion would mark an end to a six-month-long saga. The company's shares will be suspended from trading on Friday, the New York Stock Exchange's website showed.

Musk plans to take Twitter Inc's new holding company public again in three to five years after he buys the social media company, Bloomberg News reported on Thursday, citing people familiar with the matter.

Twitter did not immediately respond to a Reuters request for comment.

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First Published Date: 28 Oct, 10:18 IST
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