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Twitter on a Wild Ride With Musk At the Helm!

by upendra
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This week, Twitter became one of the most disorganized social media platforms in the history of the internet. Yet, it is also undoubtedly one of the most intriguing. Nearly every minute, there was a new development either on the platform itself or within the company itself, and both of these developments were equally exciting.

Following Elon Musk’s takeover of Twitter a few days ago, there has been some activity almost every hour! How we play around with the settings of a new phone, test certain settings, and revert them, Musk has been busy doing something similar with his new possession.

Some of the Major Developments

  1. Twitter Blue Debut and Disappearance: A brief hiatus immediately followed the debut of Twitter Blue, and then, on the following day, the feature was completely removed from the app.
  2. Twitter Blue Verified: Frequently imitating high-profile identities, including Musk’s own, Authenticated accounts started charging $8.00 per month for Twitter Blue Verified users, creating quite a stir.
  3. Official Badges: There was the introduction of Official badges for high-profile accounts, followed by their removal and subsequent reinstatement.
  4. Payments Sector Involvement: Elon Musk disclosed his intention to get Twitter involved in the payments sector.
  5. Key Executives Departures: Further departures of key executives, including the company’s most senior cybersecurity staffer, chief privacy officer, chief compliance officer, and Head of Trust and Safety, raised concerns.
  6. Advertiser Call Fallout: On November 9, Musk conducted a call with advertisers during which he did not provide any reassurances that everything would go smoothly. After the conclusion of this call, the host of the call and the head of ad sales, Robin Wheeler, resigned.
  7. Regulatory Warnings: The Federal Trade Commission (FTC) warned Twitter following the departure of key leaders spanning trust, safety, data governance, and security, emphasizing that no CEO or firm was above the law.

Twitter and Law Enforcement History

The Federal Trade Commission (FTC) has warned Twitter following the departure of key leaders spanning trust, safety, data governance, and security. The regulatory organization stated that it had been following the developments at Twitter with profound concern and that no CEO or firm was above the law.

In 2011, the FTC issued a compliance order against Twitter after discovering that the company had improperly exploited the data of its users. The ruling mandates, among other things, that complete security checks be conducted before deploying new products. It specifies what Twitter may and cannot do with users’ data.

There have been a lot of rapid changes at Twitter recently, including the elimination of departments, the departure of key personnel, and the rapid launch and shutdown of new products. These events have raised questions about whether or not Twitter has managed to comply with the decree issued by the FTC.

The leading regulator in the European Union then went after Twitter, scheduling a meeting for the following week to discuss concerns such as the data protection officer’s departure and whether Twitter’s primary establishment for GDPR is still based in Ireland.

Twitter Might Go Bankrupt!

Musk cautioned Twitter employees during an all-hands meeting on November 10 that Twitter may have a net negative cash flow of billions of dollars in 2023 and hinted that the possibility of bankruptcy was not completely off the table.

Musk had not given his changes sufficient consideration, as evidenced by the fact that he fired employees who may have provided additional insight.

Lost Opportunities?

Musk’s decision to immediately make deep cuts across Twitter meant he missed the opportunity to listen to current staff members who could have explained what Twitter has tried in the past.

Even though Musk may not agree with the course, Twitter is now on, and he may be able to use this information to guide his future choices better.

Instead, he treats Twitter like a plaything that can be messed around with and predicts that the platform will do many idiotic things in the coming months. And it has already occurred.

Musk just got rid of the Verification program already in place without appearing to have anticipated the possibility of mass abuse rather than moving forward in a more considered manner.

After that, he suddenly recognized that identifying “Official” accounts had significance for the general community and individuals who wanted a particular kind of experience within the Verified tab.

Because of his incompetent management, new items were introduced, pulled from the market, and introduced again within hours and days. This is hurting the credibility of the platform for sure.

FAQs

1. Why did Elon Musk take over Twitter?

  • Elon Musk took over Twitter as part of his effort to exert more control over the platform and potentially shape its future direction. He expressed interest in making Twitter a more open platform for free speech and a place where users can have direct influence over the platform’s rules and policies.

2. What is Twitter Blue Verified, and why was it controversial?

  • Twitter Blue Verified was a feature that allowed Authenticated accounts to charge $8.00 per month for verification. This feature was controversial because it led to high-profile accounts, including Elon Musk’s, being impersonated for financial gain. It raised concerns about the security and integrity of the platform.

3. Why did key executives leave Twitter?

  • Key executives left Twitter due to the significant changes and uncertainties introduced by Elon Musk’s takeover. These changes included departures in the trust, safety, data governance, and security departments. The departures raised questions about Twitter’s ability to comply with regulations and maintain security.

4. What was the warning from the Federal Trade Commission (FTC)?

  • The Federal Trade Commission (FTC) warned Twitter following the departure of key leaders in various departments. The warning emphasized that no CEO or company was above the law. It raised concerns about whether Twitter was complying with regulations, especially regarding data privacy and security.

5. Why did Elon Musk warn about Twitter’s financial situation?

  • Elon Musk warned about Twitter’s financial situation, indicating that the platform might have a net negative cash flow of billions of dollars in 2023. This warning came after significant changes were made, and Musk acknowledged that he might not have fully considered the consequences of his decisions.

6. How did Elon Musk’s changes affect Twitter’s credibility?

  • Elon Musk’s rapid and sometimes erratic changes to Twitter, including introducing and then removing features, led to questions about the platform’s credibility. The introduction and removal of Twitter Blue Verified, in particular, raised concerns about the platform’s ability to maintain security and a consistent user experience.

7. What were some missed opportunities in Elon Musk’s approach to Twitter?

  • Elon Musk’s approach to Twitter missed opportunities for more thoughtful decision-making. He could have listened to current staff members who could have provided insights into Twitter’s past efforts and challenges. Instead, Musk’s actions were seen as impulsive and lacking in strategic planning.

8. How can Twitter address the challenges it faces under Elon Musk’s leadership?

  • To address the challenges it faces, Twitter needs to strike a balance between innovation and stability. It should prioritize user security and data privacy while exploring ways to improve the platform’s functionality. Clear communication with users, advertisers, and regulators is essential to regain trust and credibility.

9. What is the future of Twitter under Elon Musk’s ownership?

  • The future of Twitter under Elon Musk’s ownership is uncertain. Musk’s vision includes making Twitter a more open platform for free speech and reducing centralized control. However, the platform’s success will depend on its ability to navigate regulatory challenges, maintain user trust, and adapt to changing user expectations.

10. How can users and advertisers adapt to the changes on Twitter?

  • Users and advertisers should stay informed about the evolving changes on Twitter. They should be prepared for potential shifts in the platform’s policies and features. Advertisers should maintain a flexible approach to their advertising strategies, considering the platform’s evolving landscape. Users should be cautious about security and privacy when using Twitter.

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