Tesla and SpaceX CEO Elon Musk acquired a 9.3% stake in Twitter.Inc to become the platform’s biggest shareholder. He has been hinting at shaking down the social media industry for over a week.
Here’s how Elon Musk announced the news of him taking over Twitter:
Musk has been creating buzz around free speech on social media for weeks now. On October 22, a tweet was made from Elon Musk’s Twitter account, asking his 80 million followers whether Twitter adheres to the principles of free speech.
To which the majority said no. To this, Musk replied with a poll asking if a new platform should be made.
Here’s the popular thread from Elon Musk’s Twitter account that took the whole world by surprise.
Responding to his poll results, Elon Musk on Twitter mentioned that it is serving as the de facto public town square, failing to respect free speech principles fundamentally. Something should be done to resolve this.
He asked his followers if a new platform was needed to which many people responded that he should buy Twitter.
But the history is not important; what matters is that on April 4, 2022 – Elon Musk became the biggest shareholder of Twitter, and he has some really big plans that could disrupt the social media industry.
How Does New Twitter Look Under Elon Musk?
Some of the first changes that we can expect to see under new management are increased transparency, more freedom of speech, and better content moderation.
Elon Musk on Twitter has always been a vocal critic of censorship on social media platforms. In 2018, he tweeted that “the thought police would be censoring” posts on Facebook and Instagram.
He has also been an outspoken critic of Twitter’s content moderation policies. In 2019, he tweeted that “Twitter is censoring people for no reason.”
And just a few weeks back, he wrote that “social media platforms policies are good if the most extreme ten% on left and right are equally unhappy.”
Musk wants to see a change in the way that social media platforms moderate content. And as the new owner of Twitter, he has the power to make those changes.
Musk also plans to implement a verification system for all users. In a tweet from April 20, he wrote that “Twitter is working on a decentralized protocol for verifying identity and eliminating bots.”
He also said that he wants to verify “all real humans” who use the site to crack down on spam.
“If our Twitter bid succeeds, we will defeat the spam bots or die trying!” he tweeted earlier in April.
Musk has said that he might also consider adding an “edit button” to Twitter. In an interview last week, he said that a way to reduce abuse of the feature could be to “zero out” retweets and favorites when a tweet is edited.
Elon Musk on Twitter’s algorithm quoted that he could make it publicly available online to address the concerns of some users who claim to have their tweets demoted or promoted unfairly by the platform.
Elon Musk said in a statement, “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spambots, and authenticating.”
Twitter has been a powerful tool for marketing agencies, and with the new changes, it will be interesting to see how they adapt their strategies.
Musk is committed to bringing about positive changes. And with his track record of innovation and disruption, there’s no doubt that he’ll be able to make some major changes to the platform.
What Does Elon Musk’s Twitter Entail for Marketing Agencies?
Marketing agencies should be excited about the new changes that Musk has planned for Twitter. His commitment to transparency and free speech will create a more level playing field for all platform users.
The increased transparency of the algorithm will also help marketing agencies to better understand how their content is being promoted or demoted on the site.
And the verification system will help to eliminate bots and spam accounts, making it easier for agencies to connect with real users.
Overall, the changes that Musk has planned for Twitter have the potential to create a more user-friendly and effective platform for marketing agencies. And we can’t wait to see what he does next.
What do you think of Musk’s plans for Twitter? Let us know in the comments below!