Overspending on Twitter was the easy part. Now Elon Musk must turn around a social media platform that he has spent months ridiculing.
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Elon Musk became Twitter’s owner on Thursday, in the process firing top executives, including CEO Parag Agrawal.
Twitter shares will be suspended from trading as Elon Musk faces a 28 October deadline to close his deal to buy the social media company.
Twitter is struggling to keep its most active users, who are vital to the business, engaged, according to internal research documents.
With Elon Musk on the verge of taking over Twitter comes news that he plans to gut its workforce, with cuts of up to 75%.
With that cheque for Twitter imminent, Musk could use all the optimism around Tesla he can muster.
Elon Musk said he was excited about his pending acquisition of Twitter, although he was overpaying for the social media company.
Ye, formerly known as Kanye West, said he was motivated to acquire Parler by his belief that existing platforms are too restrictive when it comes to user speech.
Musk’s erratic, mercurial online persona is impossible to separate from his businesses, as his frazzled stockholders know first-hand.
Elon Musk has warned SpaceX cannot help carry the cost of high-speed broadband Internet for Ukraine indefinitely.