It’s Friday, so which means it’s time for the newest episode of ‘What’s Taking place within the Elon Musk/Twitter takeover?’
And if you happen to’re a Twitter worker, this week’s information will not be nice.
As per The Washington Post:
“Musk advised potential traders in his deal to purchase the corporate that he deliberate to do away with almost 75 % of Twitter’s 7,500 employees, whittling the corporate right down to a skeleton employees of simply over 2,000.”
Musk’s deliberate employees cuts have been well-documented – again in Could, as a part of a leaked overview that Musk had sent to potential investors, it was reported that Musk was seeking to lower round 1,000 employees on day one, earlier than ultimately including again over 2,700 staff by 2025, consistent with platform development.
No one is aware of how, precisely, Musk plans to stimulate that development, and I’m not satisfied Elon does both, however his perspective, at current, appears to be that Twitter is bloated, expensive and underachieving.
Musk really summarized such himself, when he was questioned concerning the Twitter deal in Tesla’s third quarter earnings call earlier within the week:
“I feel it’s [a massive asset] that’s form of languished for a very long time, however has an unimaginable potential.”
Musk additionally famous that he and his fellow traders are ‘obviously overpaying’ for the app. Besides, he’s excited for what comes subsequent:
“The long-term potential for Twitter, in my opinion, is an order of magnitude higher than its present worth.”
That positive appears like somebody who’s able to pay up and take over on the app – although the deal is still not technically finalized on the time of writing.
Both method, vital issues nonetheless linger round Musk’s grand Twitter plan – particularly when he’s tweeting out memes like this:
Musk later deleted the tweet – and naturally, as varied individuals who’ve handled Musk have famous, his Twitter persona and precise real-life strategy are very totally different. However nonetheless.
He additionally posted, then deleted, this:
Kanye – or ‘Ye’ as he now prefers – moved to acquire free speech social network Parler this week, and the truth that Elon’s even joking about merging these apps appears to not be an important signal for Twitter’s future, particularly if he’s going to, , do away with all of the employees that will theoretically care for the moderation issues which are prone to emerge because of any associated shift in strategy.
Actually, it’s not potential to separate reality from fiction within the Elon Musk/Twitter stakes, as a result of we have now no method of understanding what Musk’s plans are for the app, outdoors of the imprecise notes and pointers that he’s provided alongside the way in which.
Although once more, this appears prone to be probably the most vital level of rivalry, and does seem to align with Musk’s precise strategy.
By “free speech”, I merely imply that which matches the regulation.
I’m towards censorship that goes far past the regulation.
If individuals need much less free speech, they may ask authorities to go legal guidelines to that impact.
Due to this fact, going past the regulation is opposite to the desire of the individuals.
— Elon Musk (@elonmusk) April 26, 2022
We’ll have to attend and see, however reducing 75% of employees, whereas concurrently opening up the ‘free speech’ gates? That might see issues get very messy, very quick within the Twitter-sphere.
On one other entrance, Musk has reassured ‘3-time bee sting survivor’ Dave Portnoy that he does certainly intend to deal with the platform’s bot points.
He additionally shared this random thought, apropos of nothing:
I cannot allow you to down, it doesn’t matter what it takes
— Elon Musk (@elonmusk) October 19, 2022
That’s not a part of an extended thread, or a reply that I’ve chosen to not embed. It was only a single tweet, a notice to the world, possibly.
So, what comes subsequent for Twitter?
Nicely, it looks like employees cuts are inevitable, and the impacts of that might be not possible to foretell – although I don’t assume that Musk is aware of for positive what the precise variety of cuts he’s going to make might be as but.
Possibly the suggestion of 75% cuts is a method to present those that are already contemplating leaving the corporate just a little push, with a view to keep away from future payouts – or possibly Elon is certainly going to go department-by-department on the primary day, laying individuals off as he goes.
And I feel that is it for the Musk/Twitter replace this week. Oh, additionally, Musk’s Twitter buy might be under National Security review, which may nonetheless derail the entire thing. Yeah, that too.
The chaos rolls on.