Elon Musk He hasn’t had the best season of his life for his image as a genius and brilliant businessman. Not since he was virtually forced to buy Twitter and temporarily took over the role of CEO, making a catastrophic number of decisions.
By the time he left the position as top manager (official), to give the role, supposedly, to Linda Yaccarino, the social network had collapsed to such a degree that the value of the company had lost 66% of its initial value for which Musk paid.
That means that of the $44 billion that the vast majority disbursed ended up already burned or in the virtual garbage. How is that accomplished?
Today we review what we consider to be the 7 strongest reasons why Elon Musk failed big with Twitter.
Seven Reasons Why Elon Musk Failed As Twitter CEO
Mass layoff of employees
First thing he did Elon Musk As soon as he took control of the platform, he laid off a substantial number of workers, in order to fully exploit those who survived. All under the promise of a better job future in the medium term.
The matter reached the point that there were people sleeping and living inside the offices of Twitter, but then there were some technical issues that only dominated those who the tycoon had fired. So he had to rehire them, eventually putting them out of a job again.
The check mark and wanting to charge for everything
In the middle of that layoff disaster Elon tried to modify the parameters and dynamics to keep the blue check marks. That tiny blue image that validated that a user was real. By trying to get paid for it, he lost a lot of influencers and celebrities who completely abandoned the network.
Then he tried to make amends and rearranged everything, more than once. Creating a new brand, now gray, that is charged. But the permanent damage is already done. In the end, wanting to charge for everything did not please the community
Their moderation and free speech policies
One of Musk’s first actions was to completely fire the moderation team tasked with controlling the plague of misinformation, bots and hate speech propagators.
This created a truly more toxic environment than was already the case on Twitter.
Not taking care of advertisers
This mix of factors caused advertisers, the main source of operational support for the platform, to massively abandon their contracted campaigns.
There were essential elements neglected by the millionaire and Twitter ceased to be a brand-friendly site. Although many have not jumped ship yet.
Tesla stock price crash
Musk has reached a point where he is directly dependent on his shares in Tesla Motors being healthy and rising to support Twitter’s operations with them. This is clearly a time bomb.
Do not stop controlling everything remotely
Although Linda Yaccarino is the official CEO of the social network, it is a fact that Musk continues to make the decisions and control everything on a practical level. This has been demonstrated more than once through his official account on the platform.
Kill Twitter to launch X
The coup de grace for many was the act of eliminating the name of Twitter to rename everything as X. A project promoted by Musk himself, demonstrating that Yaccarino only pays off.
There are rumors that Elon would have promoted this movement to accelerate the bankruptcy of Twitter. Only time will show.