Elon Musk's Vision For Twitter's Future Includes Monetised Tweets And Salary Cuts

After acquiring Twitter for $44 billion, Tesla and SpaceX's founder Elon Musk wants to make a few changes at the company. In his pitch, Musk said that he intends to crack down on executive and board pay at Twitter.

Elon Musk wants to cut Twitter's costs. For this purpose, he is planning pay cuts, leaner teams, and finding a way to monetise Tweets, Reuters reported. Earlier, Musk had Tweeted about cutting the salaries of Twitter's board directors. At that point, he had said that this would save around $3 million.

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In his pitch to the banks while seeking a loan to buy Twitter, Musk said that Twitter's gross margin is a lot lower than its competitors like Facebook and Pinterest. He added that his goal is to run Twitter in a more cost-efficient way.

Board salary will be $0 if my bid succeeds, so that¡¯s ~$3M/year saved right there

¡ª Elon Musk (@elonmusk) April 18, 2022

On Thursday, Bloomberg reported that Musk had gone ahead with the expensive acquisition without reading details about the company's financial performance and headcount.

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Musk's upcoming experiments for Twitter

To make more money, Elon Musk wants to conduct a few experiments at Twitter. For starters, he wants to make money from Tweets that contain crucial information or end up going viral.

Also read: Elon Musk Will Remove 'Spam Bots' From Twitter, But Also Half Of His Followers

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Another suggestion made by Musk includes charging a fee whenever a third-party website wants to quote or embed a Tweet from verified organisations and individuals. In Tweets that have been deleted since, Musk showed interest in reducing Twitter's dependence on advertising for revenue.

???? Yesss!!! ???? pic.twitter.com/0T9HzUHuh6

¡ª Elon Musk (@elonmusk) April 25, 2022

The pitch secured Elon Musk $13 billion in bank loans. He intends to pay $12.5 billion via money tied to his Tesla stock. For the remaining amount, Musk agreed to pay with his own cash.

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Earlier, Elon Musk also said that he intends to solve Twitter's "spam bot" problem. According to an analysis, it would also wipe half of his followers. And what about end-to-end encryption? Read his Tweet below.

Twitter DMs should have end to end encryption like Signal, so no one can spy on or hack your messages

¡ª Elon Musk (@elonmusk) April 28, 2022

Also read: Twitter Users Deactivate In Hordes And EU Issues Warning After Elon Musk Takeover

What do you think about these changes that could take shape at Twitter? Let us know in the comments below. For more in the world of technology and science, keep reading Indiatimes.com.

References

Reuters. (2022b, April 29). Elon Musk¡¯s Twitter Pitch Featured Job And Cost Cuts, Ways To Make Money. NDTV.Com.

Irwin, V. (2022, April 29). Elon Musk¡¯s plans for Twitter are taking shape. Protocol.

Bloomberg. (2022, April 29). Musk¡¯s Twitter Pitch Featured Job Cuts, Ways to Make Money (2). Bloomberg.com.