Elon Musk's offer to buy Twitter for USD44 billion was approved by Twitter on Monday…
Elon Musk wants one billion Twitter users and has hinted at layoffs.
In his first meeting with firm employees ahead of his USD44 billion purchase transaction, billionaire Elon Musk said he wanted Twitter to achieve 1 billion users, but hinted at layoffs.
When asked how Twitter can grow during a 45-minute conversation on Thursday, Musk said the company should make sure users feel “entertained and informed” while using the network.
Tesla and SpaceX CEO Elon Musk has stated that he wants Twitter to become more like WeChat, a Chinese super app that integrates instant messaging, social media, mobile payment, games, and ride-hailing services and has over 1 billion users.
He praised the algorithm of TikTok, a Chinese short-video hosting service, calling it “not dull,” and said that Twitter could be fascinating in the same way.
Musk reinforced his call for paid subscriptions on the financial front, claiming that consumers should be taxed to stay informed and validated.
Musk said he would take on a similar position with Twitter, noting that he is heavily involved in every process at Tesla as CEO.
The billionaire also emphasized the significance of combating bots and spam on the site, a concern he raised in May that nearly wrecked the agreement when he estimated that at least 20% of all Twitter accounts are phony or spam accounts, four times what Twitter maintains is less than 5%.
If the purchase is approved, Musk warned the company might undergo significant adjustments, ranging from financial discipline to cost-cutting, and he hinted at job losses.
Current CEO Parag Agrawal previously told employees that no layoffs were planned for the company, which employs over 7,000 people, almost a quarter of whom work remotely.
Musk stated that it is preferable for employees to be physically present in the workplace, but that individuals with unique situations may work from home.