Elon Musk took ownership of Twitter Inc. (TWTR.N) on Thursday, sacking Vijaya Gadde, the head of legal affairs and policy, Parag Agrawal, the chief financial officer, and Ned Segal, the chief operating officer.
He accused them of deceiving him and Twitter investors over the volume of false accounts on the network, according to people with knowledge of the situation.
Also unclear at the start of Musk’s ownership is how he plans to carry out the ambitious objectives he has set for Twitter.
He tweeted, “The bird is freed,” making obvious reference to Twitter’s bird logo and his wish for the firm to impose fewer restrictions on what can be posted.
However, the CEO of electric vehicle manufacturer Tesla Inc (TSLA.O) and self-described adamant supporter of free speech has also stated that he wants to stop the platform from turning into an echo chamber for hatred and division.
Other objectives include trying to “fight” spam bots on Twitter and opening up the algorithms that decide how material is shown to consumers.
Yet Musk has not offered details on how he will achieve all this and who will run the company.
He has said he plans to cut jobs, leaving Twitter’s 7,500 employees fretting about their future.
He also said on Thursday he did not buy Twitter to make more money but “to try to help humanity, whom I love.”
Musk entered Twitter’s offices on Wednesday with a broad grin and a porcelain sink before finalizing the $44 billion deal, and he later tweeted, “Let that sink in.” Musk is never afraid to indulge in theatrics.
He altered the title of his Twitter profile to “Chief Twit.”
Additionally, he made an effort to assuage staff worries about impending mass layoffs and reassured advertisers that his prior criticism of Twitter’s content control guidelines would not diminish the platform’s appeal.
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Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!” Musk said in an open letter to advertisers on Thursday.
As news of the deal spread, some Twitter users were quick to flag their willingness to walk away.
“I will be happy to leave in a heartbeat if Musk, well, acts as we all expect him to,” said a user with the @mustlovedogsxo account.
In a sign of the difficulties to be overcome, Bollywood actress Kangana Ranaut, who was barred from Twitter last year for breaking its policies against violent and cruel behavior, praised Musk’s takeover of Instagram and shared fan petitions for her account to be restored.
Musk said in May that he would lift Donald Trump’s ban, which was lifted following the attack on the US Capitol.
According to Musk, Twitter may serve as the basis for a “super app” that does everything from ride-hailing to retail and money transfers.
However, Twitter is having trouble retaining its most engaged users, who are crucial to the company. Less than 10% of monthly active users are “heavy tweeters,” but they produce 90% of all tweets and 50% of global income.
