How are you, Twitter?

30 Mar 2023

On April 25, 2022, Elon Musk bought Twitter for an incredible 43 million dollars. Musk immediately promised to make Twitter better for humanity and has already managed to do a lot. How did Ilon's actions affect and what to expect in the future? Let's try to figure it out.

Buying Twitter is a grand bargain, but the impact of Twitter on people is even grander. Musk knew this and his main goal was to make Twitter better.

Innovations
From the very beginning, Musk voiced the idea of making Twitter more open and less dependent on politics.
Musk managed to restore some blocked users, for example, Trump and Kanye West.
In addition, Max began to disclose documents confirming the influence of political forces on Twitter. According to these documents, many people were blocked whose statements were not liked by the US government.

A large number of bots have been removed and now to confirm that the account is real, you need to buy a verification tick.

The biggest change was the mass dismissal of Twitter employees. Elon Musk informed the employees that there will be an inspection of everyone's work and mass layoffs of those who do not meet the company's standards.

As promised, Musk bought all the shares of the company and now it is not traded on the stock market. The reason for the purchase, experts say, was the desire to avoid market manipulation of the company's value and thereby avoid panic.

Problems
Not all innovations were liked by people, which had a bad effect on the company's profit and popularity.

The biggest problem was the refusal of cooperation from a number of companies that did not like the new policy introduced by Elon Musk. These companies brought big profits, because they bought advertising on Twitter, but now there is no money. According to the WSJ, Twitter's revenue and net profit in December 2022 fell by 40% compared to the same period in 2021. And according to CNN, from October 2022 to January 25, 2023, Twitter's advertising revenue fell by more than 60%.

The platform started to malfunction. Innovations require code changes, which inevitably leads to disruptions of some functions. These problems are usually solved quickly, but users don't like this.
Due to a paid subscription, a new policy and disruptions, users began to leave Twitter. This is a serious problem for the social network, leading to a loss of funds.
All these losses do not help the work of Twitter and rumors have already spread that Elon Musk is looking for new investors and trying to attract new funds. Musk's fortune is estimated by various sources at more than $200 billion, but this does not mean that Elon has this money on hand now, that is, even the richest person on earth sometimes needs investors' money.

Elon Musk became famous for creating several truly grandiose companies. All of these companies were doing poorly at the beginning, but Musk was able to make a profitable business out of them, which is only growing every year.
This is Musk's first year at the head of a new company, which still has a lot of problems from the old owners, but Elon does not give up and promises to make Twitter the number one platform.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻