Elon Musk sent a letter of intent to buy Twitter at $44 billion on October 4th 2022. If the deal is finally closed, then there will be several changes in Twitter. Musk had already discussed some of his intentions about the company and has been vocal about the things he does not appreciate in the company policy. This article discusses the various changes that may be implemented in Twitter if the deal is actually closed. If you are a professional essay writers or a management student, you may find this article informative.
- Free Speech: Presently Twitter has strong policies against hate speech, harassment, misinformation and extremism, particularly about racism, politics and public health. The company had banned many famous personalities for their strong opinions such as former U.S President Donald Trump, Rep. Marjorie Taylor Greene and Alex Jones the conspiracy theorist. Musk believes that free speech is the core of any democracy and Twitter should lift these bans. Musk is expected to change the restrictive policy of Twitter and choose moderation. Elon Musk practiced this policy in his business decision, when Starlink, a satellite internet startup, declined requests from several governments (excluding Ukraine) to stop Russian news broadcasts.
- Safer Twitter: Twitter will increase the authentication of all members. Musk is also expected to remove spam bots and make Twitter safer. He made several requests to Twitter in the past to remove these spam accounts, as he claimed them to be the most annoying issue while using Twitter. Musk is expected to introduce several changes in facilities provided by Twitter. He supports the request of the followers to include an Edit button, which will allow correction to the post. Hence an edit option may be included in Twitter, once the deal is closed. While Twitter has already started testing the Edit option in some the regions, Musk is expected to speed up the process. Musk is also likely to lead the software department in the company. This is promising as Musk is known for technology which is ahead of the market trends. Under the leadership of Elon Musk, Twitter should have excellent technological advancement in terms of new features and services.
- Internal changes in Twitter: Musk believes that Twitter has more resources compared to its revenue generation. Many employees have already left the company. Several internal changes are expected to occur in Twitter, including the change of CEO Agrawal. Agrawal and Musk differ in their strategies and opinion about the company. Hence once the deal is closed, there will probably be a change in the CEO position.
- Outlook: Musk expects Twitter to generate annual revenue of $26.4 billion and acquire 931 million users by the year 2028, which is several times the current revenue of $217 million as of the year 2021. This is an aggressive outlook, however, Elon Musk has been known to achieve great heights in the past. He intends to change the business model of Twitter, and shift from its dependency on the advertisement. As of now, Twitter generates most of its revenue from advertisements. However, the company’s dependency on advertisements is not good for its future profitability given the poor outlook of the digital ad market. It is preferable there are other sources of revenue for the company. Musk intends to generate revenue by charging subscription fees from the users, creating payment business and licensing data. This is an excellent strategy for Twitter, as generating more revenue from multiple sources supports the outlook that Musk has pitched for the company. If you face difficulty in understanding these concepts and they are a part of your college assignments, consult online essay writer help who can guide you.
- Follow WeChat: Elon Musk intends to change Twitter in the line of WeChat in China. WeChat is extremely popular and is a single application that addresses several requirements of the users such as messaging, social media, ride booking, payments and shopping. If you write a paper for me on the importance of innovation on a company’s performance, you will know this is an excellent growth strategy.
Most of the strategic changes that Elon Musk has planned for Twitter are excellent. These changes should help Twitter to achieve the outlook that Musk has planned for it. However, it is yet to be seen how the free speech policy that is likely to be implemented, acts for the company. As a social media platform, free speech will have a huge impact on its revenue and acceptance among users.