Sinking in: Elon Musk’s reign over Twitter began in a frenzy late last week with the new “Chief Twit” now the sole decision-maker at the company after firing CEO Parag Agrawal and dissolving its board. Twitter will delist from the New York Stock Exchange on November 8.
Scrambling to make Twitter profitable: “What's going to determine what Twitter looks like in the future is Musk's ability to do what Jack Dorsey miserably failed at—monetizing the platform,” said Aron Solomon, chief legal analyst at Esquire Digital, a digital marketing agency.
Possible next steps: Twitter users and advertisers are waiting to see what happens next. While General Motors, a competitor of Musk’s Tesla, temporarily pulled its ads as it assesses the platform’s new direction, other advertisers are observing closely.
The problem: While Elon Musk has ambitions of making the platform a digital town square, mass firings, and installing close friends and associates, could drive down content moderation even as it ramps up user engagement.
“That may drive away brands in the same way many brands stay away from outlets like Fox News. So Twitter's already-fleeting revenue model becomes more at risk if this scenario plays out,” Kasbo said.
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