Elon Musk takes over Twitter: From censorship to monetization, here are the challenges the new boss of Twitter faces
Spending on Twitter $44 billion (about Rs 3,37,465) is the easy part. Now, Tesla Inc CEO Elon Musk must prove why he believes Twitter is worth 10 times that amount and turn a social media platform he spent months building. ridicule. Earlier this month, the outspoken billionaire said: “Myself and other investors are clearly overpaying for Twitter right now. The long-term potential for Twitter in my opinion is in the order of things. greater than its present value.” Musk provided some specifics about his plans, and what he shared seems far-fetched or contradictory.
Here’s what’s ahead for Muskwho claims to be “Chief Twit”, according to present and former Twitter employees, analysts and investors considered funding the deal.
X super app
Musk’s biggest bet borrows from China’s biggest hits of the 2010s. “Buying Twitter was an impetus to make X, the everything app,” Musk tweeted earlier this month.
The idea of an everything app, also known as a super app, originated in Asia with companies like WeChat, allowing users to not only send messages but also pay, shop online or hail a taxi. The all-in-one service appeals to users with fewer choices in areas where Google, Facebook and others have been blocked.
Musk has told investors he plans to build a channel to sell paid subscriptions to reduce reliance on ads, allow content creators to monetize and enable payments, according to a source. summary of this issue.
Scott Galloway, co-host of the Pivot podcast and a professor of marketing at New York University, says there are no super apps in the US because of the high barrier to entry and the huge selection of apps.
Apple and Alphabet of Google, control the app store on Iphone and Android Galloway says that the phone considers itself a superapp and won’t allow other superapps to develop. Consider Apple’s recent rejection of Spotify’s plans to sell audiobooks as an example of a barrier to entry.
Jason Goldman, a former board member at Twitter, said: “Not possible at this point in the evolution of mobile internet.
Censored cut content
Current and former employees who spoke to Reuters said Musk’s plan to lower the defenses common across all social media platforms would lead to a large amount of hateful content, potentially harmful and potentially illegal on Twitter. Currently, they have struggled with identifying and removing child pornography.
Members of Twitter’s trust and safety team, including content moderators, are expected to be among Musk’s deepest job cuts, employees fear.
“Imagine a world where all those people are gone,” said one employee. “It would be a hell of a scene.”
Prevent advertisers from running away*
In 2019, Musk tweeted “I hate ads.”
On the night before the deal was slated to close, he directly appealed to advertisers in an open letter tweet: “Twitter clearly can’t be a free-for-all hell, where say anything without consequences! … Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your business.”
Advertisers don’t buy it.
They point out Musk’s plan to recover the former US President’s account Donald Trump as a major obstacle to spending money on Twitter. Twitter has permanently suspended Trump because of the risk of inciting further violence following the January 6, 2021 attack on the US Capitol.
Mark DiMassimo, founder of the advertising agency DiMassimo Goldstein, says welcoming Trump back could alienate the average and liberal user, and as a result push away from major household brands aimed at continued market products and attract people within the political sphere.
Compliance with laws
Musk has promised to uphold all forms of free speech, but has also adopted a more conciliatory tone with global leaders who aim to rein in Big Tech.
In May, Musk said in a video on Twitter that he agreed to the European Union’s new digital media regulation, which would force Big Tech to do more to tackle illegal content. or risk a fine of up to 6% of global sales, in one of the world’s countries. the most rigorous approaches to regulating online content.
Regulators across Asia are also stepping up their legal stance on social media platforms and ordering the removal of content they consider illegal, including speech by dissidents. consensus.
In India, Twitter has waged a “complicated war” with the government to protect freedom of expression online, and this fight risks Musk, Goldman said.
Goldman, a former Twitter board member, said expanding Tesla’s business in China, which generated $14 billion (about Rs 1,15,280) last year, could also put Twitter in trouble. risk.
“The idea that he would be the liaison with the Chinese government and potentially pass on information about the user, it’s very scary,” Goldman said.
Twitter has a team of experts who review data requests from governments, but Musk has shown contempt for these experts, he said.
“Whether Trump comes back or not, I think it’s a living room game,” Goldman said. “But what will actually happen is the IP address of a dissident will be taken to the floor.”
© Thomson Reuters 2022
