Twitter’s New Problems 👋

Twitter’s New Problems

Now that Elon Musk has officially taken over Twitter, everything that could’ve happened took place, and it wasn’t even his actions but his influence. When it comes to his actions, he went through with his plan to remove the top brass of the company. CEO Parag Agrawal was ousted after a brief time in the position, along with CFO Ned Segal and Chief Legal Officer Vijaya Gadde, but thanks to stock holdings and other forms of compensation they will receive a combined $187 million of Musk’s money. Musk’s controversial move, however, was retweeting an article promoting a conspiracy theory linked to the attack of Paul Pelosi. This garnered a lot of attention due to Musk’s influence and it promoted many things across the platform.

One notable example was the tweet from LeBron James addressing Musk about the spike in the usage of racial slurs after the acquisition. James said he doesn’t know who Musk is and made it clear that whoever is in control should fix the situation. It must’ve been a low blow for Musk to hear that from one of the most influential people in the world, but his response was that a small group of troll accounts caused the influx of racial slurs. Musk’s takeover has inspired free-speech advocates to celebrate, although the situation has become very politicized, and many celebrities have announced their departure from the platform. All this uncertainty has caused businesses to rethink their ad spend on Twitter; GM temporarily halted their ad spend on the platform and said they would continue after assessing the future of the social media app.

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