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Elon Musk is the New Owner of Twitter
The news that Musk is the new owner of Twitter is huge news for those who follow the social network. The Indian-American software engineer has been a key part of the company since its inception. His acquisition of Twitter has made it more profitable and diversified than ever. Musk will now be able to expand the platform even further than ever. He will have his hands full managing the company in its new phase of development. But before getting too carried away, it’s important to understand the vision of Musk, Dorsey, and Agrawal.
Agrawal
Previously CEO Jack Dorsey stepped down from Twitter in November 2021, amid intense investor scrutiny over his time spent working on other projects. Twitter lost $221 million last year, and Dorsey’s resignation came just a few days later, in a tweet announcing the appointment of Agrawal as new CEO. Twitter plans to double its revenue over the next three years, and it plans to rebuild how social media companies operate. See the article : How to Change Name in Twitter. Twitter faces a number of challenges, including slow user growth and growing challenges with hate speech and misinformation. The new CEO is expected to continue the battle to win back users that have been lost to competitors.
While Dorsey was the youngest CEO of an S&P 500 company, Agrawal has been at the company for eight years. He earned his PhD in computer science at Stanford University and worked at Yahoo, Microsoft, and AT&T, before becoming CEO. Upon joining Twitter in 2006, he helped the company decentralize by hiring a team of Stanford computer scientists to oversee its decentralization efforts.
Musk
Elon Musk is the new owner of Twitter. Musk, the billionaire founder of Tesla and SpaceX, bought a 9.2% stake in the company. He already owns over 80 million followers on Twitter. This may interest you : Tesla CEO Elon Musk Considers Twitter Going Private. However, he has been highly critical of Twitter in the past. If Musk does indeed buy Twitter, there could be a clash of interests with current CEO Parag Agrawal. We will find out soon enough.
While many employees were elated at the news, they were also hesitant about the move. Some employees expressed concerns about their stock options and Musk’s suitability for the job. Musk’s other businesses have prompted many Twitter employees to question his ability to handle the job. However, Twitter CEO Parag Agrawal has assured users that there would be no immediate layoffs and that the new ownership of the company will be beneficial for users.
Dorsey
Jack Dorsey is no longer CEO of Twitter. He also runs Square, a similar app. However, a conflict of interest has arisen, with many big investors questioning Dorsey’s ability to lead two companies. Read also : What Trending on Twitter?. Twitter, which is owned by Elliott Management Corp. and Silver Lake, has a new board chairman: Bret Taylor. Mr. Taylor has been with Salesforce since its founding, and he brings a wealth of experience to Twitter.
Some investors are concerned that this deal will lead to increased censorship of conservative views on the platform. But Twitter has been critical of Mr. Dorsey’s past behavior. He has been known to have connections with far-right figures. The company’s recent banning of former President Donald Trump after riots on the Capitol prompted strong criticism from Mr. Trump supporters. He will remain a board member until the 2022 annual shareholder meeting.
Musk’s vision for twitter
Elon Musk is a billionaire entrepreneur who wants to overhaul Twitter, but some experts question his vision. Some have said that he has no idea what he is getting into. Some conservatives have already launched “free speech” platforms, and many have struggled with toxic content. Meanwhile, at least one has been shut down by technology providers. Musk’s vision for Twitter could lead to a deterioration of the social network.
As an entrepreneur, Musk’s goal for Twitter is to transform the platform into a super app similar to WeChat, a Chinese messaging and payment app. He aims to make Twitter a $15 billion business by 2028, with payments as a core part of the service. He called the meeting “unusually late,” and appeared to be videoconferencing from his hotel room. He answered questions about remote working at Twitter.
Jack Dorsey’s trust in Agrawal as CEO
Agrawal will become the latest addition to the list of Indian-American tech CEOs. He has worked as a researcher on large-scale data management before joining Twitter. He holds a Ph.D. from Stanford and graduated from IIT-Bombay in 2005. Agrawal has been with Twitter for four years and was first appointed as a vice president in 2007. He is not an active tweeter, but he does post occasionally on deeply technical topics.
Some big investors were skeptical about Dorsey’s ability to run two companies at once. But Twitter recently reached a deal with activist investors Elliott Management Corp. and Silver Lake, which hold 4% of the company’s stock. Agrawal has a track record of fast innovation, and he has helped lead Twitter’s efforts in blockchain technology and cryptocurrencies. Twitter shares spiked after the news broke, and trading was halted after the tweet.
Musk’s SEC filing limits actions against twitter
Elon Musk’s latest SEC filing limits actions against Twitter may have a ramification for the company. Musk has been teasing the idea of a new social media platform, and the company may be forced to pay up if it decides to do so. The company’s board has also been shaken up, and pro-Musk board member Egon Durban tried to resign, but the company turned him down. Durban is a supporter of Musk’s efforts to take Twitter private, but stockholders have lost confidence in him as a result. The SEC has also been looking into the alleged “pretextual” excuses Musk made to limit his actions.
While it’s possible that Musk’s SEC filing limits his actions against Twitter, he has a history of testing the norms and ignoring rules. The SEC’s San Francisco Regional Office previously prosecuted Musk for violating SEC rules by tweeting derogatory comments. But in Musk’s recent court filing, he cited an exchange he had with Twitter CEO Parag Agrawal in which the two were discussing Twitter’s user count. They ended up exchanging a poop emoji. While a tweet may be amusing to a Twitter user, it could be hurtful for an investor, and the SEC’s ability to act is limited.
