Latest / Elon Musk Podcast / Elon Musk is Officially in Charge of Twitter

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Elon Musk is Officially in Charge of Twitter · Elon Musk Podcast

• 0:03
  The SpaceX and Tesla CEO. Elon Musk is now actually in
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  charge of Twitter, according to cnbc's, David Faber.
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  Now, Twitter CEO. I should say, former CEO parag
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  and the Chief Financial Officer, Ned Segal have left the company
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  San Francisco headquarters and they will not be returning.
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  They're done with the company and musk had until Friday to
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  complete. His forty four billion dollar
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  acquisition of Twitter or he would face ache.
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  Crazy Court battle with a company.
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  Now, in April Twitter accepted musk's proposal to buy the
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  social media Giant and take it private.
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  Now a couple months later and must began to show that the
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  intentions from Twitter, we're not exactly what he thought they
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  were. He thought there were a bunch of
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  bots on the program, a lot of bots on the app and he wasn't
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  really going for it, right? So he had a sort of a second
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  thought about this. He said, okay, We have a lot of
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  bots on the app, I know that everybody knows that.
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  Twitter said there's about five percent Bots.
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  There were some estimates of about 90%, which is kind of
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  crazy. But somewhere in between there
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  are good people. There are people that are using
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  the platform and musk saw that and he said, you know what, I'm
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  gonna buy this company anyway. I'm not going to go to court
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  about it. I'm going to spend my forty four
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  billion dollars on this company and his intentions to buy
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  Twitter and he alleged that the company failed to disclose all
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  of those fake accounts on the service.
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  And now when musk said that he was going to terminate this
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  deal, Twitter suit him and they said the musk refuses to honor
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  his obligations to Twitter and its stockholders because the
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  deal had no longer that it no longer service his personal
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  interests. So they said, hey Ilan, we got
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  to do this. You said that you're going to do
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  this and you have no proof. Otherwise of our Intentions are
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  these fake accounts as 5% were 98 percent or whatever?
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  Whatever it is is somewhere in between Ilan said, okay, let's
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  try this. So in the months in between
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  their Twitter and musk went back and forth, Twitter would throw
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  up some shade, Ilan would show up, throw up some shade, there's
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  some attorneys, both parties were sledded slated to head to
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  where is Court of Chancery to determine the fate of the social
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  media platform. So if it's Owing to get an
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  elon's hands, or if it's going to stay in the public realm and
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  be traded on a stock market. So, October Ilan said, you know
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  what? Let's do this.
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  Let's acquire Twitter at the original asking, price of fifty,
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  four dollars and twenty cents 5420 nice.
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  And he said that, when he buys this company, he's going to drop
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  all the litigation. Gation everything's going to be
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  great. It's gonna go private.
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  So Twitter is lawyers though said that elon's proposal is an
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  invitation to further mischief and DeLay.
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  So they didn't trust him, they think he's kind of mischievous,
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  right? They think he's kind of in it
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  for himself, he's doing his own thing and a Delaware Chancery
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  Court Judge ruled that musk head until October 28th to get the
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  deal done. Or it's going to have the trial.
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  So Thursday, Ilan Road and message intended to reassure
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  advertisers that the social media messaging services won't
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  devolve into a free-for-all hellscape where anything can be
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  said with no consequences and there's a Twitter post about
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  this from Elon and it's it's pretty it's pretty dicey, it's
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  pretty awesome. I think there's a there's a
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  there's a chance that he's in good Good spirits and that he's
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  doing this kind of cover all of his bases, so they don't lose
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  Revenue, right up front. So kind of what happened to
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  Tumblr. I don't know if you remember
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  Tumblr or how big it was before, but when they were required, a
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  lot of advertisers left, a lot of people just abandon the
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  platform because it wasn't as cool as it used to be.
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  And the new owners didn't do exactly what they wanted to do.
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  And they took a private and it was just it was a fiasco, Ilan
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  sent this crazy train. I'm going to I'm going to read
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  you some of this tweet. I wanted to reach out
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  personally. This is from elon's tweet, I
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  wanted to reach out personally to share my motivation.
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  In acquiring Twitter, there has been much speculation about why
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  I bought Twitter in what I think about advertising most of it has
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  been wrong. The reason I acquired Twitter is
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  because it is important to the future of civilization to have a
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  common digital Town Square where a wide range of beliefs can be
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  debated in a healthy manner, without resorting to violence.
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  There was a current greater danger that social media.
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  'He will Splinter into far right wing or far left wing Echo
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  chambers, that generate more hate and divide, our society, in
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  the Relentless pursuit of clicks, much of traditional
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  media is fueled and cater to those polarize extremes is they
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  believe that is what brings in the money.
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  But in doing, so the opportunity for dialogue is lost, this is
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  why I bought Twitter, I didn't do it because it would be easy.
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  I didn't do it to make more money.
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  I did it to try to help Humanity.
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  Whom I love and I do so with humility, recognizing the
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  failures pursuing this goal. Despite our best efforts is a
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  very real possibility. That said Twitter obviously
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  cannot become a free-for-all hellscape where anything can be
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  said with no consequences in addition to adhering to the laws
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  of the land are platform, must be warm and welcoming to all
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  where you can choose your desired experience.
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  According to your preferences, just as you can choose, for
• 5:58
  example to see movies or play video games, ranging from all
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  ages to mature. I also very much believe that
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  advertising, when done right Candlelight entertain in, Inform
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  you. They can show you a service or
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  product or medical treatment that you never knew existed, but
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  is right for you for this to be true, it is essential to show
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  Twitter, users advertising, that is as relevant as possible to
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  their needs low relevancy. Lee ads are spam.
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  But highly relevant ads are actual content fundamentally
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  Twitter aspires to be the most respected advertising platform
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  in the world. This strengthens your brand and
• 6:39
  grows your As to everyone who has partnered with us.
• 6:43
  I thank you. Let us build something
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  Ilan. So the few takeaways from this.
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  Okay, so I'm going to go after the big one here.
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  The big one is the ad platform. So currently if you advertise on
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  Twitter, you can boil down the results of your ad very, very my
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  new. So say, if you're looking for
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  somebody, in Upstate New York, who likes ice cream that
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  skateboards and is also a dancer, you can find that person
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  if you nail down, the right trajectory Hooray for your
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  advertisement, right? So Elon says it's not going to
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  become a hellscape where anything can be said with no
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  consequences. So basically people thought this
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  was going to turn into 4chan and 4chan is basically that the Wild
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  Wild West, you can do anything you want on 4chan, basically and
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  no one's going to say anything to you.
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  Everyone's going to be like, alright, cool, do you thing?
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  But this company needs to make money.
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  This company needs to make a lot of for of money.
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  Elon's money isn't just elon's money.
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  He hasn't Investors in this idea.
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  So these there's private Equity firms.
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  There's other billionaires involved.
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  It's not just ilan's money. Did just cash in a bunch of
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  Tesla stock and buy Twitter. So Ilan says, in addition to
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  adhering, to the laws of the land.
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  So, I'm guessing he's saying Free Speech here.
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  Our platform must be warm and welcoming to all, so he's
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  saying, all right, let's have everybody's ideas here.
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  Let's open this up to everybody. It might be unbanning some
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  people. You know, some prominent figures
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  prominent political figures, possibly where you can choose
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  your desired experience. According to your preferences,
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  just as you can choose, for example to see movies or play
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  video games, ranging from all ages to mature.
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  Okay, so Your desired experience.
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  What does this mean? It's possible that Elon is
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  saying, okay, so say if you like, if you're into
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  skateboarding, I'm into skateboarding.
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  I like skateboarding. I think it's great.
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  I used to be a skateboarder, in my, in my younger years.
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  I still like it. I watch it.
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  I think it's cool. It would be cool if there was
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  sort of like a skateboard Twitter, you know, if there were
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  sort of verticals for everything and also spaceflight, I'm into
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  space flight, what if there were a vertical for politics, but
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  Just regular, like, all over the board politics, but say, if you
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  like politics, about Kentucky, Kentucky politics.
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  Possibly, you'll be able to drill down into Kentucky,
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  politics and only follow certain topics like that right now.
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  There's, there's things like that on Twitter, but I think
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  there's going to be a more fleshed-out program than what's
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  there now. And this is important here to
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  see movies or play video games ranging from all ages to mature.
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  So currently Twitter is a, it's a mature platform as well.
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  People post mature content on there and Elon says this isn't
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  going away. So there was a comment from
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  somebody called zubi music on Twitter.
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  Twitter in zubi music says, yes also Twitter should find a way
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  to compensate monetization partner.
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  With this top creators like every other social media app, a
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  small percent great, all the high engagement content and keep
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  the site. Active Ilan replied with.
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  Absolutely. So, Alana saying yes, that's
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  what I want. I want everybody to get paid for
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  their hard work because it is hard work.
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  Doing all the Social Media stuff and takes a lot of time, you
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  know. So by the time you create some
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  content, say if I were to create a One update on a Tesla vehicle,
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  right? Possibly, that might take me an
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  hour. You know, it what is my, our
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  worth is it worth 100 new followers, which doesn't really
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  get me any money off the bat? You know, I do those followers
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  don't do anything or is there a way for people to send me money
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  or to my Channel or something like that?
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  Something like YouTube, you know, the monetization of
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  YouTube, that's why people use YouTube a lot.
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  That's why people are moving from Tick-Tock to YouTube
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  because YouTube just created short.
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  It's and there's going to be monetization of shorts, which
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  are 60 seconds or less, sort of like Tick-Tock some creators are
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  moving from Tick-Tock where they don't make money, but they have
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  a ton of followers. But YouTube is saying, hey, come
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  over here, we have advertising over here, we'll pay you.
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  So maybe this is a thing with Twitter as well.
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  I don't know how successful the short program is going to be,
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  but there's a lot of hype about it.
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  So this is kind of what I'm guessing.
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  An Elan also said every Rising when done right Candlelight.
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  Entertained and informed, Mm, you.
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  They can show you a service or here's a big kicker, right here,
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  or medical treatment. So most of the advertisers
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  online and most the advertisers on television are medical
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  advertisers. If you watch any TV show, you'll
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  see that most of the stuff that you will see how our ties mitts
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  on there. There in some form.
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  There's some sort of medicine involved, whether it's, you
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  know, something like a Band-Aid, or you, you fix a cut real
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  quick. Or something, where you have to
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  go, talk to your physician about it, that's in the United States.
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  But he also said once advertising that it's relevant,
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  and as possible to their needs low relevancy ads are spam by
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  highly relevant ads are actually content.
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  So is it going to be a new ad platform for Twitter?
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  How can we make ads more relevant and more content based
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  as opposed to just being an advertisement where it's just a
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  picture or a video? Video real quick, then like a
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  five-second video, is there a way to advertise on Twitter?
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  That's sort of a bigger idea, you know?
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  So I think it's going to be working on that too.
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  And he says fundamentally Twitter aspires to be the most
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  respected advertising platform in the world, the strengthens
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  your brand and grows your Enterprise to everyone who has
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  partnered with us. Thank you.
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  So basically says okay, this isn't just a social media
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  platform Let's make some money here everybody.
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  Let's make a bunch of money. And in order to make that money,
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  we need to keep these advertisers happy.
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  So that's what he's doing with these tweets Elon is now in
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  charge of Twitter. Officially you know he said I'm
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  going to do this by Friday and he did, he walked into, he
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  walked into Twitter headquarters with a sink like a bathroom
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  sink. And he said on his Twitter
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  account entering Twitter, HQ, let that sink in.
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  So, of course, he's going to be funny, he's going to be goofy.
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  He's going to be Lon. And he also upgraded, his
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  Twitter description to Chief twit.
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  So elon's in charge of Twitter. Now, I hope you enjoyed this.
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  I hope you have a great conversation here.
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  Please hit the Subscribe button. Please listen to this.
• 16:05
  And share this with all your friends.
• 16:07
  I really do appreciate all of your time here.
• 16:09
  And of course, as always, I'll see you next time.