Elon Musk now runs one of the world’s most powerful social-media platforms. Let that sink in. Last week on Thursday he walked into Twitter’s headquarters carrying a big sink to make exactly that point, according to his tweet.
In a matter of hours after sealing the $44 billion (R762bn) deal he fired CEO Parag Agrawal and other top executives.
What more can we expect from the Chief Twit? If his discussion with the Twitter team is anything to go by, among other things, he will turn the platform into a super app.
The Chief Twit is said to be impressed by the Chinese app WeChat, which started as a messaging app and later grew to encompass multiple businesses, from shopping to payments and gaming. If this becomes a reality, Twitter will be an app that rules them all.
In addition to making Twitter a super app (or X as he calls it), Musk is also impressed by the idea of creating different versions of the platform, one for most sensitive users, another for moderate users and free-for-all version where users are most free to say what might offend most people.
Most analysts who pay attention to social media platforms are not that optimistic. Some are even predicting the downfall of the social media platform. Their claim is emboldened by the exodus of leading engineers who are instrumental in managing some of the key functions on Twitter.
Most of these naysayers are convinced that Elon Musk will run this platform into the ground. They seem to forget that Musk has spent billions to acquire Twitter. Why would an owner of the most powerful media platform on earth deliberately kill it?
So far there are indications that Musk is sincere about fixing Twitter. One of the actions he announced within hours of taking over is the creation of a content moderation council.
“Twitter will be forming a content moderation council with widely diverse viewpoints. No major content decisions or account reinstatements will happen before that council convenes,” he tweeted.
He also tapped confidants for help and established a “war room” at Twitter to review its products and policies.
In terms of revenue generation we also know that he may introduce a subscription service and get governments and corporations to pay for use of the service.
All of these factors point to an acquirer with serious intentions of making his acquisition function better. There’s no reason to doubt Elon Musk’s ability to turn Twitter around.
He has done so before and he can do it again. Although Twitter is different from his other companies which are into engineering, his innovation skills will come in handy in rescuing Twitter.
Challenges at Twitter are mainly around free speech and law, it will take the innovative transformation of the platform to take care of user concerns.
If Musk can navigate legal issues related to autonomous cars and taking people to space, what will stop him from using tech to keep the company afloat? Twitter needs innovation and Musk is the right person to inject the lacking spirit of innovation at Twitter.
Wesley Diphoko is the Editor-In-Chief of Fast Company (SA)
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