Business / Tech May 12, 2023
Elon Musk says he has found new CEO for Twitter
Tesla shares closed 2.1% higher on Thursday and analysts said the announcement helped alleviate some investor concerns around Musk's active involvement at Twitter.
Tesla shares closed 2.1% higher on Thursday and analysts said the announcement helped alleviate some investor concerns around Musk's active involvement at Twitter.
Twitter, which lost much of its communications team when Musk slashed the staff shortly after taking over, has not immediately responded to request for comment.
Musk was meeting some top employees to try and convince them to stay, said one current employee and a recently departed employee who is in touch with Twitter colleagues.
Musk has offered little clarity over how he will achieve the lofty ambitions he has outlined for the influential social media platform.
Heavy tweeters have been in "absolute decline" since the pandemic began, a Twitter researcher wrote in an internal document titled "Where did the Tweeters Go?”
Independent researchers have said the number of spam bots could be as much as 15% of users, a discrepancy that could affect the Tesla chief's $44 billion deal for the social media company.
The question of reinstating Trump has been seen as a litmus test of how far Musk will go in making changes, even though Trump himself has said he would not return.
Directors lacked confidence in new CEO Parag Agrawal's ability to deliver a higher return than what Musk offered, clearing the way for the decision to sell.
After the acquisition closes, Microsoft will look take a more active role by hiring advisers, bringing in law firms or mandating sensitivity training.
Major social media platforms were accused of enabling extremists on Jan. 6, 2021 — now they're claiming to watch their platforms more carefully for threats.