In case you spent the day under a rock, Trump has been reinstated on Twitter after winning a poll by Elon Musk. Not kidding.
I'd like to keep this open & not push the discussion in any direction, so I'll keep this short.
Predictions? What does this mean for Twitter? Elon? Trump? Social media? The country? The world?
I'm not sure Trump saying something is very good evidence it's true.
Pretty ironic to hear someone arguing a truly free speech platform—which Musk explicitly says is his most important goal with Twitter—is not that meaningful...on a website that had to be created because of fears of free speech limitations on the social media website from whence it escaped.
Elon's actions will lead directly to profits in a way that is easy to understand.
Twitter was bleeding money, losing $1.1 billion in 2020 alone.
They had a $13M meals program that was feeding less than 10% of the staff because no one showed up to HQ. It was costing hundreds of dollars per meal, with more people preparing food than eating it. It's laughably stupid.
My sense is Twitter was hyper-bloated, with ~10x more employees than they needed, so 90% layoffs seem about right. It's a microblogging website that grew to have a bunch of completely superfluous positions with people who literally contributed nothing.
Right-sizing the staff, cutting needless expenses, adding a revenue stream with a re-imagined Twitter Blue, reducing trolls/bots—these are all common sense. The advertisers will come back, as the only metric that matters is user engagement, and it's at an all time high & will continue to grow through 2024 with what will be the most "entertaining" election in U.S. history.
Elon will turn Twitter into the profitable Center of the Internet, and a certain tribe will be pretending the sky is falling the whole time.
#RIPTwitter & #Twitterisdown was trending during the highest engagement period in Twitter's existence. It's the fakest news that's ever been.
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