The move of Elon Musk’s acquisition of Twitter was met with both excitement and skepticism. While others hailed it as a bold and strategic move, others questioned whether it was a wise investment.
Now that time has passed since the acquisition, it is worth taking a closer look at how it turned out. Recent findings revealed that Twitter had changed significantly under the leadership of Elon Musk. Users left the platform after his acquisition due to his policies, and the number of users leaving the platform is expected to increase.
With that in mind, are these changes a success or failure?
Let’s explore the impact of Mr. Musk’s acquisition of Twitter and what it could mean to the platform’s future alongside his other ventures.
Elon Musk’s Acquisition Of Twitter
The past few months of Musk’s acquisition of Twitter have been a failure. Various sources have shown that there was a high chance of bankruptcy since Musk took over the company the last year.
Twitter Before And After Elon Musk
Elon Musk has implemented many changes since he acquired the company on October 27, 2022. Users and even staff have criticized some of the changes.
However, Mr. Musk believes that every change that he has made is for the platform is for the betterment of the platform. But is it? Here are some of the changes that Elon has implemented:
1. Paid Verification
When Musk got into the platform, his first announcement was the paid verification. The verification will give users a blue checker mark to allow them to cosplay digitally, just like celebrities.
Initially, Elon had purposed to charge $20 per month, but he realized it was too expensive for normal folks.
However, iOS subscribers will have to pay $11 per month. The extra bill will help Carter with apples 30% in-app purchase tax.
The Paid verification was a way of verifying human users and getting rid of bots in the platform. Elon is also working on more incentives, such as priority listing of replies and searches.
Additionally, Musk flagged a system in which paying subscribers can downvote other accounts to decrease their tweet exposure. These features are great, but they are quite irrelevant to those who do not tweet.
2. Reinstatement Of Twitter Accounts
Musk’s efforts to make Twitter an open and free space were seen in his announcement that he would reinstate the profiles of previously banned users.
Since then, Twitter has reinstated over 60,000 profiles of those who previously broke the platform’s rules.
However, even though some of the meanest profiles are back on tweeter, they will still have to play by the rules and regulations.
3. Work Force
Ever since Elon Musk fully acquired Twitter, he fired almost half of the workforce that was working in the company. It implies that Twitter relies more on automation to run all its operations.
Other employees left the company since they couldn’t agree with Musk’s demand to be hardcore. Musk also disliked the idea of remote working. Therefore, he also asked all the employees who couldn’t show up in the office to leave the company.
4. Doxxing
Soon after acquiring the company, Elon Musk significantly changed one of Twitter’s policies. He insisted that users cannot share other users’ private information (Doxxing) via the platform.
He made this change stating that it could lead to potential harm. It was after a stalker confronted his young son. The new rule states that a user can share another user’s live location information.
How Does The Future Of Twitter Look Like Under Elon Musk
Elon Musk recently revealed his plans to turn Twitter into an “everything application.” Therefore, users could access integrated services through the platform. Some of the ways that he plans to do this include:
1. Video
Mr. Musk plans to reveal a new way of displaying videos on the platform. One of his biggest plans was to bring back the video Vine. He recently ran a poll asking the user if they want him to bring back Vine.
Elon also planned to compete with YouTube stating that he could offer better payouts. However, some popular Tubers, such as Mr. Beast, were skeptical about his claim.
2. Advertising As Entertainment
Elon Musk has plans to make Twitter advertising more interesting and entertaining. Interesting advertising would lead to more awareness and engagement.
3. Long Form Tweets
Musk has suggested that he has plans to incorporate long-form tweets shortly. In implementing this new feature, Twitter began experimenting with a limited number of writers earlier this year.
You can look at this feature in action by visiting the @TwitterWrites page and going through the notes to the bottom.
4. Encrypted DMs
Encryption of direct messages has become an industry standard for social media sites. Twitter plans to encrypt its users’ DM to make the platform a safer place to pass private messages. This feature might be ready for launch very soon.
5. Twitter Blue
Elon Musk plans on adding some new features to Twitter Blue and retaining some old features in it. With Twitter Blue, a user will get the following advantages on Twitter:
- A blue checker mark to show other users that you are a verified Twitter user.
- Priority placement in Twitter mentions search results and top of replies.
- See fewer advertisements on your Twitter account. Ads will reduce by up to 50%.
- A clear path for uploading longer videos on the platform
- First-hand early access to new platform features
Twitter Blue monthly payments currently stand at $8 or $96 annually.
6. Integrated Payment Platform
In a call with advertisers, Musk said that he would turn Twitter make Twitter a digital marketplace where various creators can set their prices for content. It will allow different creators to sell their content at a fair price.
Elon Musk firmly believes that this type of payment system will allow Twitter users to send funds directly to other users.
Conclusion
Elon Musk’s acquisition of Twitter has posed a failure due to the various problems that the company is going through.
From a possible bankruptcy to users leaving the platform due to trust, the acquisition of Twitter hasn’t gone well for Mr. Musk.
However, he is very optimistic that the company is yet to see better days with the advent of new features he plans to incorporate into the platform.
Real growth takes time, and with his experience in business, he might transform Twitter into a great company, just like he promised.
