Musk, according to several reports, also praised Chinese apps like TikTok, which he said is good for keeping people engaged and not being “boring,” and WeChat, which he said could be a good model of what Twitter could be. .
“Turning Twitter into a WeChat-like super app would be a massive undertaking for Musk,” said Jasmine Enberg, chief analyst at Insider Intelligence. “Changing consumer behavior is difficult, something Meta (then Facebook) quickly discovered during its own app ambitions.”
While Musk, through Tesla. He already has ties to China, Enberg noted that “the media landscape, perceptions of privacy and buying behavior are very different in China than in the Western world, and Musk should not only overcome the obstacle of convincing consumers to change the way they behave. online, but also that Twitter is the place to do it. “
Twitter staff have every reason to be nervous about Musk’s imminent takeover. Credit: Bloomberg
Musk reached an agreement to acquire Twitter in April, but has since repeatedly clashed with the company over the number of bots, or fake accounts, on the social media platform. Musk said he put the deal on hold on May 13, though it seems unlikely he could do it on his own. Musk said he needed more data from the company about these bot accounts, although Twitter has reported its bot estimates – and its admission that they may be too low – to investors for years.
Twitter employees may have other reasons to be nervous about Musk’s impending takeover. The irascible billionaire has raised a barrage of criticism of the company, from its moderation and security policies, which he describes as a threat to “free speech”, to its anonymous user accounts. which he would like to remove, at the ban of the former president. Donald Trump, who has pledged to reverse.
“If there are two sides to an issue, it is important to represent multiple opinions. Most of the world’s problems are complex, “Weinstein said, citing Musk.
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Harry Kraemer, a former CEO of Baxter International and a professor at Northwestern University’s Kellogg School of Management, noted that the agreement “is not a guarantee until it is made” and there are still many steps to be taken before it is completed. can complete the purchase. .
“In my experience, it’s very unusual and almost uncommon for someone who hasn’t bought the company to talk to the current employees of the company they want to buy,” Kraemer said.
Musk has also joined Twitter’s work-from-home policy, having once called for the company’s headquarters to become a “homeless shelter” because, he said, so few employees worked. The comment also served as a veiled blow to San Francisco, which has a large homeless population. He said during Thursday’s meeting that he is very much in favor of working in person, according to Weinstein.
It’s unclear if this week’s meeting means the two sides have come together to resolve their issues. Twitter shares have been trading well below the $ 54.20 per share that Musk has agreed to pay amid Wall Street doubts that the deal will be consumed.
AP
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