News & Events, Tech

Elon Musk completes Twitter takeover and fires top execs

The mogul now owns Twitter.

words by: Natasha Marsh
Nov 3, 2022

In many ways I am so sick of hearing about Elon Musk, the business mogul who happens to be the founder and CEO of SpaceX, CEO and product architect of Tesla, founder of The Boring Company, co-founder of Neauralink and OpenAI, president of Musk Foundation, and more recently, owner of Twitter.

 

As a freelancer, I am very aware of creatives who take on multiple streams of revenue in the art of hustling — it is sometimes hard to believe they are surviving. But taking a peek at Musk’s resume, I am reminded that you really can manage, lead, and establish as many businesses as you like. In this way, he impresses me. But upon hearing the recently announced layoffs at Twitter, I am disgusted again.

 

Rumors of Musk purchasing Twitter have been circulating for the past 2 to 3 years, and the entrepreneur finally bought the $44 million social media platform earlier this month. For his first move in office, he fired long-standing Twitter executives — chief executive Parag Agrawal, chief financial officer Ned Segal, and Vijaya Gadde, head of legal policy, trust, and safety. This is not inclusive to the nearly 75% of the social media company’s workforce that he plans to fire.

 

For years, Musk has criticized how the company handles things, focusing too much on outgoing management and not enough on product decisions and content moderation. Concerningly, he has also said on numerous occasions that he would restore Agent Orange’s account. “Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences,” he said hours before tweeting, “the bird is freed.”

 

The way Musk has gone about this has left a bad taste in several peoples mouths. As the richest man alive, he vowed to purchase Twitter at an inflated price, to which he was met with a slew of legal battles. He also told Twitter that they should let him purchase the company, or he would start a rival social media platform that would destroy them.

 

Earlier last week, he showed up to headquarters carrying a sink to suggest now is the time for the message to “sink in.” If this is reminding you of America’s former president, you wouldn’t be wrong. His actions, similar to the Trump era, is like a spoiled rich kid who is greedy and never satisfied with their toys.

 

Twitter is now in the process of becoming private, which would dissolve the entire board of directors and end public trading of its stock. Musk plans to loosen policing of harmful content, like misinformation and hate speech. And judging from the popularity of the platform, this could cause a lot of issues, discrimination, all around evil within the world. It isn’t then shocking to say his arrival has been met with dismay and resentment by many Twitter employees. And what’s scary is it appears he is just getting started.

 

As many of you know, this is hardly the latest update in Musk’s Twitter acquisition deal. He began with purchasing the largest stake in the company. Then, he offered up the hefty $44 billion price tag (which he did not have at the time).  He released his plans to monetize Twitter, and then got sued for pulling out of the deal. We’ll surely be back with more updates as they come. By the way, Musk was named TIME’s 2021 Person of the Year. That didn’t age well.

 

Photo via Reuters