A mysterious new product, the hiring and firing of staff – Elon Musk’s secret plans for Twitter have been revealed.
Elon Musk’s plans for Twitter have been revealed, after the billionaire launched a successful bid to buy the social media platform for $44 billion ($61.4 billion).
Mr Muskthe world’s richest person, reportedly presented a pitch deck to investors this week claiming he would boost the company’s annual revenue from $5 billion ($7 billion) last year , to $26.4 billion ($37.3 billion) in 2028.
He wants the average revenue per user to be $30.22 ($42.70) in 2028, up from $24.83 ($35.08) last year.
To achieve this, many workers will be both hired and fired, depending on the NYT.
The ultimate goal is to have 11,072 employees by 2025.
There are currently around 7,500 Twitter employees and 1,725 are expected to be hired in 2022. But then 893 people would lose their jobs by 2023, before more people are hired again.
According to NYTMr Musk is likely to “lay off workers” as part of the takeover and then recruit new engineering talent.
A mysterious new product called X was also reportedly mentioned in the game, with the goal of 104 million users by 2028.
As for the current Twitter Blue, where users subscribe for A$4.49 a month to personalize their experience, Musk expects 159 million users within six years. It was only launched last year.
Other highlights include contributing US$15 million ($21.3 million) from a payments business in 2023 and US$1.3 billion ($1.8) by 2028. It is unclear what this entails.
The company will also rely less on advertising, falling to less than 50% of its revenue, according to the pitch.
the The Twitter board agreed to Mr. Musk’s takeover nearly two weeks ago.
In the days after he sold about $5.6 billion worth of Tesla stockthen said on Twitter that there would be no more Tesla stock sales.
To fund the takeover of the social media platform, he pledged up to $29.4 billion of his personal wealth, with the rest financed through debt, according to AFP.
Musk’s “free speech” mission
A month before Mr Musk struck the deal with Twitter, he asked users what they thought of the social media platform and free speech.
In a March 25 poll, he asked users whether the Twitter algorithm should be open source.
He then followed it up a few hours later with a new poll, which read: “Freedom of speech is essential to the functioning of a democracy. Do you believe that Twitter strictly adheres to this principle? »
“The consequences of this election will be significant. Please vote with caution,” he added.
After Twitter’s board approved his takeover, Mr. Musk continued to make public comments and tweets about the need for free speech on the platform, not censorship.
“For Twitter to earn the public’s trust, it must be politically neutral, which effectively means upsetting the far right and far left alike,” he wrote in a tweet.
Leaked messages from the Slack business communication platform revealed some Twitter employees let off steam against the new owner’s position on free speech.
“Physically I’m scared to watch Elon talk about free speech,” wrote a site reliability engineer who identifies as a non-binary transgender person.
“We all go through the five stages of grief in cycles and everyone’s nerves are on edge,” wrote a senior software engineer who called Musk a “a**hole” and tried to console his colleagues.
“We are all spinning our wheels and working out the worst case scenarios. (Trump is back! No more moderation!) The fact is (Musk) hasn’t talked about what he intends to do in detail outside of general statements that could easily be considered hyperbolic display.
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