It has been an active week at Twitter, the first week after Elon Musk’s takeover. We recap everything that has happened over the week with all the details.
the world’s richest man got himself a new bird, and he has been playing with it like his new pet. That’s right; we are talking about Elon Musk, the new Twitter chief who acquired the platform for a whopping $44 billion. As per the ruling by the Delaware judge, Musk had until October 28, 2022, to close the deal on the initially agreed terms or face a legal trial to be held in November. However, it was on October 26 that the Tesla and SpaceX CEO entered Twitter’s San Francesco headquarters with a white bathroom sink in his hands. He also tweeted a short video of his entrance through the glass doors at the headquarters, with the caption, “Let thank sink in!”
While some people, including the company’s staff, are not able to digest that the platform is run by Elon Musk himself, Musk is doing everything possible to make his presence felt. Although there haven’t been any major changes to how the platform works for users, Twitter is going through a radical change internally. The company has laid off many employees, including the board of directors, filed for delisting from the New York Stock Exchange, and working on the rather controversial verification plan. Since there is a lot to talk about, we’ll do it chronologically. So fasten your seat belts because Musk’s bird is going through an arduous flight.
Shortly after his entrance into the headquarters, Musk finalized the $44 billion deal and took over the operations on October 27, 2022. His first order of business was firing the company’s top executives, including then CEO Parag Agrawal, CFO Ned Segal, the legal head Vijaya Gadde, and general counsel heed Sean Edgett. The reported that the executives were in the SF headquarters when the deal was finalized and were “hastily” escorted out of the premises. In official documents that emerged later, it was discovered that Musk kicked out the entire board of directors, effective from his takeover.
The same day, Musk addressed advertisers through a tweet that contained images of a written message, stating that “Twitter aspired to be the most respected advertising platform in the world,” which strengthens advertisers’ brand and grows their enterprise. But for that to happen, the Twitter head wants to keep advertisements as relevant as possible.
After this, Twitter’s new owner informed that Twitter will be forming a content moderation council with widely diverse viewpoints and that no significant content decisions or account reinstatements will occur before the council is in place. The tweet came out amid speculations that the service might restore the accounts of high-profile users who were banned from the platform. As a response to this, Meta’s Oversight Board offered Twitter its assistance in setting up the content moderation council. Meta’s Oversight Board looks after the social media platforms like Facebook and Instagram, which have a massive user base.
