It has been almost a week since Elon Musk completed its Twitter takeover, but the company already sees drastic changes. The billionaire and entrepreneur vowed to eliminate the social platform’s fake account issues and optimize by “giving power to the people.”
However, Elon Musk’s management of Twitter is full of controversy. As Bitcoin has reported, the magnate fired the company’s entire board of directors and its top brass with “cause.” This decision is poised to trigger further issues for Twitter.
Right now, Musk is the sole decision maker at the company, a status quo that is allegedly temporal, according to the self-appointed “Chief Twit.” The magnate is appealing to his popularity on the platform, exercising a management style comparable to politicians.
The executive changed his biography on the platform to “Twitter Complaint Hotline Operator” as he takes to reply seemingly every message and suggestion from his followers to improve the company. The Chief Twit has based many of his decisions on these messages.
Yesterday, Elon Musk announced a new subscription program for the company’s premium service, Twitter Blue. Priced at $8 a month, subscribers can verify their accounts, access longer video, and audio formats, get priority in replies and searches, and other features.
Before the official announcement, there was speculation about Twitter Blue being priced in at $20 a month, but there was a backlash from prominent personalities. Elon Musk’s decision was presented almost as a gift to users, especially to crypto enthusiasts.
These users will have access to monetization tools, possibly including Bitcoin, BTC’s lightning network, Ethereum, and Musk’s favorite, Dogecoin. There is no official announcement on the latter. Still, the entrepreneur has publicly stated his opinion on using crypto as a payment method and hinted at this possibility on his account.
— Elon Musk (@elonmusk) November 1, 2022
Of course, Musk’s framed the announcement not just as a way to boost the company’s revenue but as a means for the regular user to take power from the elites. Via his official handle, the Chief Twit said:
Twitter’s current lords & peasants system for who has or doesn’t have a blue checkmark is bullshit. Power to the people! Blue for $8/month. Price adjusted by country proportionate to purchasing power parity.
Elon Musk understands the influence that Twitter wheels over the masses. Last week, one day before the finalization of the acquisition, the billionaire said:
Laying Siege To Traditional Media
The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence (…).
People and mainstream media have speculated about why Musk decided to buy Twitter. Some claim the decision was impulsive. Others side with Musk, arguing that the decision will protect free speech across the internet.
However, there is a third possibility often overlooked. Elon Musk could be taking control and shaping one of the world’s most significant influence spheres to his benefit. The Chief Twit already runs two of the biggest companies on the planet, Tesla and SpaceX.
These companies manufacture and develop tech products with a profound impact on society. In particular, SpaceX has the ambition to colonize Mars. What will happen if the company succeeds? Isn’t it in Elon Musk’s best interest to control, as he called it, the digital town square of the internet?
Beyond the financial aspect, the latter seems poised to benefit Musk and any of his ventures. Once again, the entrepreneur is creating his own rules, his own stage, and a role equal to that of global mainstream media, and a Shiba Inu-inspired cryptocurrency might be its Trojan Horse.
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