Buzz
After confirming the acquisition deal for one of the largest social media networks today, Twitter, it appears that the billionaire is devising a strategy to generate income from it.
One of the current contentious and speculated issues is the potential acquisition of Twitter by Elon Musk, the owner of Tesla and SpaceX. Recently, Musk has been in negotiations to acquire Twitter for approximately $44 billion.
Naturally, many Twitter and internet users are currently pondering what the next step for the billionaire is after acquiring this social media platform. Some express excitement about Elon Musk purchasing Twitter, while others are beginning to worry about its implications.
Externally, Musk is driving a positive change for the social media platform. Amidst the desire to eliminate bot and spam accounts, verify users, and promote free speech, Musk's vision seems very promising for the website. Even Twitter's Jack Dorsey is currently speaking positively about Musk, hoping that Musk will bring about change for Twitter and steer it in the right direction compared to Dorsey's initial vision. However, recent reports suggest that Musk might be pushing to monetize the website, sparking intense controversy.
Specifically, reports suggest that Musk needs to pitch to banks to secure loans for his Twitter acquisition. Considering Twitter's Poison Pill plan to prevent Musk's company from acquiring it, buying the website will require a substantial amount of money. In his assurances to banks, Musk explains that he will recoup the money in various ways, including cutting the CEO's salary, downsizing at various levels, and earning money from specific tweet content.
Specific tweets will generate revenue by disclosing 'important' information or when tweets go viral on the website and the internet in general. Making money can take various forms, but currently, Musk seems inclined to charge third-party websites for using or embedding tweets on their platforms. While this change is certain to bring in more revenue for the website, it will undoubtedly reduce information sharing on the platform; moreover, it raises questions about limitations in monetization policies. Although attempting to acquire Twitter by Musk is a lengthy process, it will pose a small challenge in retaining users when some features shift to paid services.
Whether Elon Musk implements this change or not, its impacts on users are certain and could be catastrophic for the platform. Currently, everything is yet to be officially confirmed and is only speculation based on the actions of the billionaire.
