Elon Musk’s $44 Billion takeover is complete, and he has already begun implementing his plans for the platform. In one of his first acts as the new owner, Musk is reportedly looking to lift all the lifetime bans Twitter has handed out.As reported Bloomberg, Musk is reportedly looking to lift lifetime bans on several users, which includes former POTUS, Donald Trump. He has already mentioned his plans to turn Twitter into a platform that promotes free speech, and this is one of the ways he plans to achieve it.He also posted a brief explanation where he claimed that the acquisition is “important to the future of civilization”, and that he did it to help humanity. Musk also detailed how Twitter aspires to become a respected advertising platform as well.
While this is something we already knew Musk would do once he took over, there are other things he has planned as well. For instance, Musk expressed his desire to make Twitter’s algorithm open source and has openly declared war on Twitter bots. He had even put the deal on hold earlier because he felt Twitter was misreporting the number of fake accounts on the platform and was withholding some crucial information. Since the deal is now complete, he will look to purge the bots on the platform.
Musk also reportedly plans to trim the Twitter workforce by 75 percent, which means the number of employees will drop from 7,500 to 2,000. He has already started implementing this plan by firing CEO Parag Agarwal, CFO Ned Segal, head of legal Vijaya Gadde, and general counsel Sean Edgett. This definitely raises a number of security concerns for the platform and also leaves the livelihood of several employees hanging by a thread.
Musk has reportedly told investors that he will double the revenue in just three years and will also increase the number of daily users, all while firing a majority of the workforce.