Stormy Sunday on Twitter
In the past week alone, the world’s largest social network has fired its management, laid off half its staff, been rejected by major advertisers, removed many key elements from its product, and announced and removed many of the features it should have done, for example. generate new sources of income. Bloomberg Citing a personal source, Yoel left Roth, Twitter’s head of security and integrity. Another leader, Robin Wheeler, resigned but Elon Musk convinced him to stay.
In the grim situation on November 10, Musk was forced to warn that the company could go bankrupt. Everything is upside down with the most influential platform on the internet, used by powerful people like national leaders, CEOs of big companies and even Pope Francis.
There are no signs that the current situation will end.
Billionaire Elon Musk. Colour: Reuters
Twitter today announced the launch of a gray “official” badge for verified accounts. The decision came after the platform faced a wave of identity theft, including accounts impersonating former US President Donald Trump. This follows Musk’s decision to sell the green tick to anyone willing to pay $8 a month.
Blue’s Twitter service has been suspended since November 11 without notice. Given Musk’s somber mood, it’s unclear if Twitter will reactivate him in the future. In the middle of the week, just hours after the gray badge was introduced, he also unexpectedly announced the “removal” of the feature, forcing his subordinates to be quick to explain their decision. Today the gray tick was put back on.
The green tick feature has been criticized by many pundits, who say it can make it harder to spot fake news, especially during turbulent times when the US midterm elections are underway. Many people familiar with Musk also criticized the move.
“Dear Elon Musk, This is common among entrepreneurs. It took too long to get my account suspended with a green tick to ensure my posts are useful again,” billionaire Mark Cuban wrote.
During this week’s Twitter Spaces online event for advertisers, Musk urged brands to continue using the platform after a number of companies stopped advertising and Twitter’s revenue fell. Musk has taken responsibility for the recent drop in activity.
“If something goes wrong, it’s my fault,” he told an audience of 100,000.
However, many believe Musk is still shirking responsibility, even in the face of scrutiny by the US Federal Trade Commission (FTC), despite the agency’s warning that it is “monitoring developments in the US.” Twitter with grave concern.” According to an internal message posted by a Twitter employee, Musk has not shied away from an FTC review to enforce legal agreements related to the company. In it, the agreement commits Twitter to maintaining a robust cybersecurity program and providing written reports that compromise user privacy before launching any new service or product like Twitter Blue.
The company could also face billions in fines for failing to protect user privacy before Musk buys it. But Twitter officials fear the company could face more serious legal consequences for holding executives accountable for fulfilling their obligations to the FTC.
Musk then took a conciliatory stance. “Twitter will do its best to live up to the spirit and letter of the FTC,” he wrote in an email to employees.
The American billionaire claims that one of the factors supporting him today is the growth in the number of Twitter users as more and more people follow his quest to lead the company. “Twitter usage is at an all-time high. Hopefully the servers don’t go down,” Musk tweeted earlier this week.
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