• About
  • Contact
  • Advertise
Sunday, May 28, 2023
  • Login
No Result
View All Result
NEWSLETTER
The US Inquirer
  • Home
  • Politics
  • Tech
    Snapchat to lay off more than 1,200 staffers, or 20% of global employees

    Snapchat to lay off more than 1,200 staffers, or 20% of global employees

    Apple Car Leaks Highlight Price, Design, Material, Game-Changing Feature And Launch Window

    Apple Car Leaks Highlight Price, Design, Material, Game-Changing Feature And Launch Window

    SpaceX Capsule Splashes Down, Bringing 4 Astronauts Home From 6-month Mission

    SpaceX Capsule Splashes Down, Bringing 4 Astronauts Home From 6-month Mission

    Elon Musk expected to serve as temporary Twitter CEO after deal closes

    Elon Musk expected to serve as temporary Twitter CEO after deal closes

    Instagram is testing fullscreen feed for Reels

    Instagram is testing fullscreen feed for Reels

    Google will now remove your phone number and other info from search results. Here’s how to do it.

    Google will now remove your phone number and other info from search results. Here’s how to do it.

    Trending Tags

  • Business
  • World
  • Sports
  • Science
  • Entertainment
    • All
    • Movies
    • Music
    Ladies Love Moka (Moka Blast) Drops Scenic Music Video For “Blast Vegas Freestyle”

    Ladies Love Moka (Moka Blast) Drops Scenic Music Video For “Blast Vegas Freestyle”

    Q&A: A look at $1.9B Powerball jackpot, how it grew so large

    Q&A: A look at $1.9B Powerball jackpot, how it grew so large

    ‘Gladiator’ actor Russell Crowe feted in Rome

    ‘Gladiator’ actor Russell Crowe feted in Rome

    Ralph Lauren draws A-list Hollywood crowd for sumptuous show

    Ralph Lauren draws A-list Hollywood crowd for sumptuous show

    Johnny Depp calls ex-wife Amber Heard’s allegations “unbelievably brutal, cruel, and all false” in return to stand in libel trial

    Johnny Depp calls ex-wife Amber Heard’s allegations “unbelievably brutal, cruel, and all false” in return to stand in libel trial

    TV star Joshua Duggar sentenced to 12 years in child porn case

    TV star Joshua Duggar sentenced to 12 years in child porn case

    Surgeon testifies Johnny Depp’s hand injury was likely not from a thrown bottle

    Surgeon testifies Johnny Depp’s hand injury was likely not from a thrown bottle

    Post Malone is expecting a child with girlfriend

    Post Malone is expecting a child with girlfriend

    “American Idol” winner Laine Hardy arrested in Louisiana for allegedly placing recording device in ex-girlfriend’s room

    “American Idol” winner Laine Hardy arrested in Louisiana for allegedly placing recording device in ex-girlfriend’s room

  • Lifestyle
    • All
    • Health
    • Travel
    Alcohol death toll is growing, US government reports say

    Alcohol death toll is growing, US government reports say

    One legacy of COVID-19: More cash for Americans in need

    One legacy of COVID-19: More cash for Americans in need

    U.K. “Partygate” probe reveals details of illegal, booze-fueled parties at PM Boris Johnson’s house during COVID lockdown

    U.K. “Partygate” probe reveals details of illegal, booze-fueled parties at PM Boris Johnson’s house during COVID lockdown

    FDA chief struggles to explain its slow response on baby formula

    FDA chief struggles to explain its slow response on baby formula

    Military plane carrying 39 tons of baby formula arrives in U.S.

    Military plane carrying 39 tons of baby formula arrives in U.S.

    She sat next to the annoying guy on the plane. Then they fell in love

    She sat next to the annoying guy on the plane. Then they fell in love

    White House warns COVID could infect 100 million this winter

    White House warns COVID could infect 100 million this winter

    WHO Members To Consider Shutting Europe Hub Office In Russia Over Ukraine

    WHO Members To Consider Shutting Europe Hub Office In Russia Over Ukraine

    FDA could authorize COVID vaccine for children 5 and under, and Novavax vaccine, this June

    FDA could authorize COVID vaccine for children 5 and under, and Novavax vaccine, this June

    Colorado inmate tests positive for avian flu, health officials say

    Colorado inmate tests positive for avian flu, health officials say

    Trending Tags

  • Opinion
  • Home
  • Politics
  • Tech
    Snapchat to lay off more than 1,200 staffers, or 20% of global employees

    Snapchat to lay off more than 1,200 staffers, or 20% of global employees

    Apple Car Leaks Highlight Price, Design, Material, Game-Changing Feature And Launch Window

    Apple Car Leaks Highlight Price, Design, Material, Game-Changing Feature And Launch Window

    SpaceX Capsule Splashes Down, Bringing 4 Astronauts Home From 6-month Mission

    SpaceX Capsule Splashes Down, Bringing 4 Astronauts Home From 6-month Mission

    Elon Musk expected to serve as temporary Twitter CEO after deal closes

    Elon Musk expected to serve as temporary Twitter CEO after deal closes

    Instagram is testing fullscreen feed for Reels

    Instagram is testing fullscreen feed for Reels

    Google will now remove your phone number and other info from search results. Here’s how to do it.

    Google will now remove your phone number and other info from search results. Here’s how to do it.

    Trending Tags

  • Business
  • World
  • Sports
  • Science
  • Entertainment
    • All
    • Movies
    • Music
    Ladies Love Moka (Moka Blast) Drops Scenic Music Video For “Blast Vegas Freestyle”

    Ladies Love Moka (Moka Blast) Drops Scenic Music Video For “Blast Vegas Freestyle”

    Q&A: A look at $1.9B Powerball jackpot, how it grew so large

    Q&A: A look at $1.9B Powerball jackpot, how it grew so large

    ‘Gladiator’ actor Russell Crowe feted in Rome

    ‘Gladiator’ actor Russell Crowe feted in Rome

    Ralph Lauren draws A-list Hollywood crowd for sumptuous show

    Ralph Lauren draws A-list Hollywood crowd for sumptuous show

    Johnny Depp calls ex-wife Amber Heard’s allegations “unbelievably brutal, cruel, and all false” in return to stand in libel trial

    Johnny Depp calls ex-wife Amber Heard’s allegations “unbelievably brutal, cruel, and all false” in return to stand in libel trial

    TV star Joshua Duggar sentenced to 12 years in child porn case

    TV star Joshua Duggar sentenced to 12 years in child porn case

    Surgeon testifies Johnny Depp’s hand injury was likely not from a thrown bottle

    Surgeon testifies Johnny Depp’s hand injury was likely not from a thrown bottle

    Post Malone is expecting a child with girlfriend

    Post Malone is expecting a child with girlfriend

    “American Idol” winner Laine Hardy arrested in Louisiana for allegedly placing recording device in ex-girlfriend’s room

    “American Idol” winner Laine Hardy arrested in Louisiana for allegedly placing recording device in ex-girlfriend’s room

  • Lifestyle
    • All
    • Health
    • Travel
    Alcohol death toll is growing, US government reports say

    Alcohol death toll is growing, US government reports say

    One legacy of COVID-19: More cash for Americans in need

    One legacy of COVID-19: More cash for Americans in need

    U.K. “Partygate” probe reveals details of illegal, booze-fueled parties at PM Boris Johnson’s house during COVID lockdown

    U.K. “Partygate” probe reveals details of illegal, booze-fueled parties at PM Boris Johnson’s house during COVID lockdown

    FDA chief struggles to explain its slow response on baby formula

    FDA chief struggles to explain its slow response on baby formula

    Military plane carrying 39 tons of baby formula arrives in U.S.

    Military plane carrying 39 tons of baby formula arrives in U.S.

    She sat next to the annoying guy on the plane. Then they fell in love

    She sat next to the annoying guy on the plane. Then they fell in love

    White House warns COVID could infect 100 million this winter

    White House warns COVID could infect 100 million this winter

    WHO Members To Consider Shutting Europe Hub Office In Russia Over Ukraine

    WHO Members To Consider Shutting Europe Hub Office In Russia Over Ukraine

    FDA could authorize COVID vaccine for children 5 and under, and Novavax vaccine, this June

    FDA could authorize COVID vaccine for children 5 and under, and Novavax vaccine, this June

    Colorado inmate tests positive for avian flu, health officials say

    Colorado inmate tests positive for avian flu, health officials say

    Trending Tags

  • Opinion
No Result
View All Result
The US Inquirer
No Result
View All Result
Home Business

Musk in control of Twitter, fires top executives

by The US Inquirer
October 27, 2022
in Business, Social Media
Reading Time: 6 mins read
A A
Musk in control of Twitter, fires top executives

Elon Musk has taken control of Twitter and ousted the CEO, chief financial officer and the company’s general counsel, two people familiar with the deal said Thursday night.

The people wouldn’t say if all the paperwork for the deal, originally valued at $44 billion, had been signed or if the deal has closed. But they said Musk is in charge of the social media platform and has fired CEO Parag Agrawal, CFO Ned Segal and General Counsel Vijaya Gadde. Neither person wanted to be identified because of the sensitive nature of the deal.

The departures come just hours before a deadline set by a Delaware judge to finalize the deal on Friday. She threatened to schedule a trial if no agreement was reached.

The major personnel moves are expected to be the first of many changes made by Musk, who says he can increase Twitter’s subscriber base and and revenue.

Earlier in the day, Musk tried to soothe leery Twitter advertisers saying that he is buying the platform to help humanity and doesn’t want it to become a “free-for-all hellscape.”

The message appeared to be aimed at addressing concerns among advertisers — Twitter’s chief source of revenue — that Musk’s plans to promote free speech by cutting back on moderating content will open the floodgates to more online toxicity and drive away users.

 

“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,” Musk wrote in an uncharacteristically long message for the Tesla CEO, who typically projects his thoughts in one-line tweets.

He continued: “There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society.”

Musk has previously expressed distaste for advertising and Twitter’s dependence on it, suggesting more emphasis on other business models such as paid subscriptions that won’t allow big corporations to dictate policy on how social media operates. But on Thursday, he assured advertisers he wants Twitter to be “the most respected advertising platform in the world.”

The note is a shift from Musk’s position that Twitter is unfairly infringing on free speech rights by blocking misinformation or graphic content, said Pinar Yildirim, associate professor of marketing at the University of Pennsylvania’s Wharton School.

But it’s also a realization that having no content moderation is bad for business, putting Twitter at risk of losing advertisers and subscribers, she said.

“You do not want a place where consumers just simply are bombarded with things they do not want to hear about, and the platform takes no responsibility,” Yildirim said.

Musk said Twitter should be “warm and welcoming to all” and enable users to choose the experience they want to have.

“I didn’t do it to make money,” he said of the pending acquisition. “I did it to try to help humanity, whom I love. And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility.”

Friday’s deadline to close the deal was ordered by the Delaware Chancery Court in early October. It is the latest step in a battle that began in April with Musk signing a deal to acquire Twitter, then tried to back out of it, leading Twitter to sue the Tesla CEO to force him to go through with the acquisition. If the two sides don’t meet Friday’s deadline, the next step could be a November trial that could lead to a judge forcing Musk to complete the deal.

But Musk has been signaling that the deal is going through. He strolled into the company’s San Francisco headquarters Wednesday carrying a porcelain sink, changed his Twitter profile to “Chief Twit,” and tweeted “Entering Twitter HQ — let that sink in!”

And overnight the New York Stock Exchange notified investors that it will suspend trading in shares of Twitter before the opening bell Friday in anticipation of the company going private under Musk.

Musk is expected to speak to Twitter employees directly Friday if the deal is finalized, according to an internal memo cited in several media outlets. Despite internal confusion and low morale tied to fears of layoffs or a dismantling of the company’s culture and operations, Twitter leaders this week have at least outwardly welcomed Musk’s arrival and messaging.

Top sales executive Sarah Personette, the company’s chief customer officer, said she had a “great discussion” with Musk on Wednesday and appeared to endorse his Thursday message to advertisers.

“Our continued commitment to brand safety for advertisers remains unchanged,” Personette tweeted Thursday. “Looking forward to the future!”

Musk’s apparent enthusiasm about visiting Twitter headquarters this week stood in sharp contrast to one of his earlier suggestions: The building should be turned into a homeless shelter because so few employees actually worked there.

The Washington Post reported last week that Musk told prospective investors that he plans to cut three quarters of Twitter’s 7,500 workers when he becomes owner of the company. The newspaper cited documents and unnamed sources familiar with the deliberation.

Musk has spent months deriding Twitter’s “spam bots” and making sometimes contradictory pronouncements about Twitter’s problems and how to fix them. But he has shared few concrete details about his plans for the social media platform.

Thursday’s note to advertisers shows a newfound emphasis on advertising revenue, especially a need for Twitter to provide more “relevant ads” — which typically means targeted ads that rely on collecting and analyzing users’ personal information.

Yildirim said that, unlike Facebook, Twitter has not been good at targeting advertising to what users want to see. Musk’s message suggests he wants to fix that, she said.

Insider Intelligence principal analyst Jasmine Enberg said Musk has good reason to avoid a massive shakeup of Twitter’s ad business because Twitter’s revenues have taken a beating from the weakening economy, months of uncertainty surrounding Musk’s proposed takeover, changing consumer behaviors and the fact that “there’s no other revenue source waiting in the wings.”

“Even slightly loosening content moderation on the platform is sure to spook advertisers, many of whom already find Twitter’s brand safety tools to be lacking compared with other social platforms,” Enberg said.

Share3Tweet2Share1

The US Inquirer

The US Inquirer was founded in 2007, published in 3 editions weekly, one on Tuesday, one on Thursday, and a weekend edition on Saturday. These papers were delivered to newspaper racks in various public places across Midwest City, Oklahoma and Tinker Air Force base, as well as a second-class direct mail subscription.

Next Post
Trump claims he will be back on Twitter this Monday after Musk takeover

Trump claims he will be back on Twitter this Monday after Musk takeover

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Daily news in your inbox!

Recent News

  • Ladies Love Moka (Moka Blast) Drops Scenic Music Video For “Blast Vegas Freestyle”
  • Oath Keepers boss guilty of seditious conspiracy in 1/6 case
  • Senate to vote on landmark bill to protect same-sex marriage
  • Virginia Walmart mass shooting survivor files $50M lawsuit
  • Twitter ends enforcement of COVID misinformation policy
Twitter Facebook Instagram TikTok Youtube

About The US Inquirer

The US Inquirer is a national newspaper based in Oklahoma that brings you breaking nationwide news on politics and domestic events.

Categories

  • Business
  • Crime
  • Education
  • Entertainment
  • Health
  • Movies
  • Music
  • National
  • Newspaper Updates
  • Politics
  • Science
  • Social Media
  • Sports
  • Tech
  • Tennis
  • Travel
  • Weather
  • World

Menu

  • Privacy Policy
  • About
  • News Team
  • Contact
  • Advertise
  • Newspaper Updates
  • ISSN: 2832-0522

© 2022 The US Inquirer - Statewide Breaking News

No Result
View All Result
  • Home
  • Politics
  • World
  • Business
  • Science
  • National
  • Entertainment
  • Gaming
  • Movies
  • Music
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Tech
  • Health
  • Food

© 2022 The US Inquirer - Statewide Breaking News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In