Activist company

Elon Musk speaks to Twitter staff ahead of company acquisition – The Whistler Newspaper

Elon Musk spoke to Twitter employees for the first time on Thursday, ahead of his $44 billion acquisition deal.

Musk spoke with staff via a company-wide video call where he held a Q&A with them, moderated by a Twitter executive, during which he talked about everything, from layoffs to the existence of extraterrestrials.

However, he gave no update on the actual acquisition deal during the meeting.

According to Reuters, he told staff he wanted to grow the number of Twitter users from its current 229 million to at least 1 billion. He also spoke about the importance of advertising to the business, although he previously said he doesn’t think Twitter should run ads.

“I think advertising is very important to Twitter. I am not against advertising. I would probably talk to advertisers and say, ‘hey, let’s just make sure the ads are as entertaining as possible,'” Musk said, adding that he’s still trying to find out about bot and spam accounts. on Twitter, which he mentioned and his biggest concern.

Speaking on whether or not there will be any layoffs, Musk explained that “some rationalization of headcount and expenses” was needed.

“Right now, the costs are exceeding the revenues. It’s not a great situation,” he said, “but anyone who is a major contributor shouldn’t have to worry.

Musk also told staff that it would be better if they were physically on site rather than working remotely, but exceptional employees might be able to work remotely. About a quarter of Twitter employees are currently working remotely, as the company gives relatively free rein to remote or in-person working in the office.

“The bias should be strongly in favor of in-person work, but if someone is exceptional, remote work may be acceptable,” he said.

Explaining his plan to take the company private once the acquisition is complete, Musk said he thinks it might be more productive without having to appease activist shareholders.

Tesla’s CEO struck a deal in April to buy the company for $44 billion and take it private, but has remained outspokenly critical of it, even threatening to cut off the deal over concerns over the actual number. fake/spam accounts on the platform. .