Will Twitter Stop Being Free as Celebrity Billionaire Elon Musk Indicates?
According to Twitter’s new owner, celebrity billionaire Eon Musk, the network will stay free for “casual users,” but could be different for others.
On Tuesday night, Elon Musk, who is in the process of buying Twitter, hinted that some commercial or government accounts might be charged to use the service in the future.
The newest suggestion for a tweak to the social media platform Musk has made public is to charge commercial or government users. Even before reaching a deal, Musk suggested lowering the price of the Twitter Blue premium subscription service before reaching an agreement.
Musk did not elaborate on what this “slight expense” may entail. However, this was the most recent glimpse into the kinds of changes he plans to make if he acquires control of Twitter. According to a recent article, Musk is considering new ways to monetize tweets, such as charging websites a fee to quote or embed verified account tweets.
Musk signed a deal to buy Twitter late last month, but he does not yet have full control of the firm. Tesla CEO Elon Musk said in a statement that Twitter, in its current form, would neither thrive nor serve this societal imperative and that it “needs to be transformed as a private company.”
Musk and Twitter’s board of directors agreed to buy the company for $44 billion on April 25. The billionaire, who was born in South Africa, has stated that he is motivated primarily by a desire to restore Twitter as a platform for the free exchange of ideas and that he wants to move away from ‘censorship’ and err on the side of free expression.
He was asked about his plans for Twitter at the Met Gala on Monday, his first public appearance since the deal was struck. He said that all goes as planned, his goal is to make Twitter as inclusive as possible and have as many people on Twitter on the platform as possible.
His detractors believe that this would lead to an upsurge in hate speech. Musk has chastised Twitter’s moderation practices, describing himself as a “free speech absolutist.” He wants Twitter’s algorithm for selecting messages to be made public, and he opposes giving advertisers too much control over the platform.
He has been talking to investors since the transaction was announced in an attempt to decrease the $21 billion he needs to close the purchase. The remaining funds will be obtained through bank loans.
Musk, the world’s richest man with a net worth of $255 billion, stated that he is considering a proposal to restore the company to public control that could be intended to soothe potential investors by indicating that he would act rapidly to turn the business around.
Private equity firms frequently take companies private with the goal of enhancing profitability and working out concerns away from the spotlight before re-publicizing them in five years or less.
Image Elon Musk Flickr