Key Takeaway:
- On the night of his deadline to complete the transaction and avoid a fresh court date, billionaire Elon Musk tried to reassure advertisers of his intentions to purchase Twitter.
- According to The Wall Street Journal, many advertisers are reportedly worried about his rumoured ambitions to reduce content control and possible conflicts of interest.
- Musk said in a tweet that he purchased Twitter because it is crucial for civilization to have a standard digital town square. This is where various views are civilly and without using force.
Musk clarified that he did not purchase Twitter “to increase my wealth.” I did it to support humanity, which I adore.
The months-long debate over whether Elon Musk would follow through on his plan to buy the social media platform has concluded with his acquisition of Twitter.
According to individuals familiar with the situation, several Twitter Inc. officials were dismissed after Elon Musk completed his purchase of the business. It ended an unprecedented corporate struggle and prepared one of the world’s most powerful social media platforms for potentially significant change.
The sources said that after the acquisition was finalised, Mr. Musk Fired Chief Financial Officer Ned Segal and Chief Executive Officer Parag Agrawal. These sources said. Sean Edgett, general counsel, and Vijaya Gadde, Twitter’s senior legal and policy officer, were both let go by Mr. Musk. Twitter’s spokesperson remained silent.
According to one advertising executive, Twitter’s largest advertisers would stop working with new Twitter owner Elon Musk if he restored former President Donald Trump’s account.
Musk has positioned himself as a free speech crusader throughout his months-long courtship of purchasing Twitter. He has previously said that Trump would be reinstated if he succeeded.
In May, Musk said, “I do believe that it was not proper to prohibit Donald Trump.” It was a mistake because it alienated a significant portion of the population without ultimately preventing Donald Trump from having a voice.
Elon Musk, the new owner of Twitter, has been warned by Kiely Taylor, global head of partnerships and managing partner at GroupM. She says if her customers are any indicator, this would be a costly move for Twitter. The Wall Street Journal reports
According to Kieley Taylor, global head of partnerships at GroupM, a preeminent ad-buying agency representing blue-chip companies, it would be a “red line” for certain businesses, according to The Wall Street Journal.
A dozen or so of GroupM’s customers, the owners of various well-known consumer brands, have requested that the company suspend all of its Twitter advertisements if Mr. Trump’s account is restored.
Following the brawl at the U.S. Capitol on January 6, Trump’s account was permanently blocked by Twitter, which claimed that his continuing use of the service posed a “risk of additional instigation of violence.”
Twitter “cannot turn into a lawless hellscape,” Twitter cannot transform into a free-for-all hellscape, Musk warns advertisers, according to CNBC report.
Billionaire Elon Musk tried to reassure advertisers that the platform would be smooth for them to spend their money on. It was on his deadline day to buy Twitter to avoid a fresh court date.
Twitter can’t become a platform where anyone can say anything without repercussions! “Dear Twitter Advertisers,” Musk said in a statement he posted on the social media platform.
The declaration removes the worry some progressives have had that a Musk-run Twitter would be inundated with hate speech and false information, given that Musk has said he would reduce content monitoring. Musk said in the message to advertisers that most theories about why he purchased the site “have been erroneous.”
The future of society depends on having a shared digital town square where a variety of things is discussed civilly and without resorting to violence. The man stated in his blog post explaining why he bought Twitter. There is currently a significant risk that far-right and far-left echo chambers on social media will spread more hatred and split our society.
Musk clarified that he did not purchase Twitter “to increase my wealth.” I did it to support humanity, which I adore.
According to Musk, Twitter should be a place where users can pick their preferred experience based on their tastes while still abiding by the law.
Since Musk is also the CEO of Tesla, The Wall Street Journal reported on Thursday that many advertisers are worried about his rumoured intentions to reduce content control. This may result in possible conflicts of interest with vehicle advertising. According to the Journal, some marketers were worried that he would completely ban advertising from the network.
Musk did, however, show trust in the medium, adding that “when done well, advertising can thrill, entertain, and enlighten you.”
Tesla CEO Elon Musk said, “Twitter strives to be the most reputable advertising platform in the world that builds your brand and expands your business.”
