In an interview with CNBC, Elon Musk announced his plan to revolutionize Twitter by turning it into more of a real-time news feed and reducing its usage as a social media platform.
Why would he want to do this?
Elon Musk, billionaire and founder of Tesla Motors, recently revealed why he wants to purchase and fix Twitter. According to him, it’s so lame, that no one uses it. He also feels that there is a lot of potential for it – if only someone would take over! He believes there is no hope for Facebook which has reached its peak in terms of innovation and basically continues doing what everyone else does. Mr Musk admitted on his Twitter account: What would it take to get real innovation into a social network? I’m thinking about buying tbh (Twitter). What might seem like an odd idea at first glance actually makes a lot of sense; but why exactly did Elon buy Twitter?
The main reason he’s keen on purchasing twitter is that he wants to reinvent it. He wants to make it more interesting and fun for everyone – not just for celebrities. The current situation of Twitter is sad and pathetic since no one uses it anymore. All anyone does is look at their feed of posts – nothing else. Elon plans on making Twitter more accessible and easier to use than Facebook ever was – and probably ever will be in the future. Elon also feels that social media should not only be entertaining but educational as well – a sort of new-age encyclopedia if you will.
Elon Musk is investing in a future where people don’t just check their social media once a day or once an hour – but where they check it constantly throughout the day, not only for entertainment and news but for learning as well. He feels that people should be accessing educational resources at any time of day because knowledge is power. It’s never too late to learn something new! With his new purchase of Twitter, he wants everyone to get involved with tweeting; posting what they see and sharing new ideas daily. Elon also hopes that by educating people through Twitter more often than Facebook ever will, he can make our world a better place – one tweet at a time.
What plans does he have?
Over its 12-year history, Twitter has never been able to increase its user base significantly. The 140-character platform has failed to appeal to new users and lost millions of existing users since co-founder Jack Dorsey returned as CEO in 2015. The company made major changes over that time, including a switch from a chronological timeline back to an algorithmic one, adding live video broadcasts and Moments—but none of it was enough. After years of stagnant growth and lowered expectations by investors, perhaps nothing can change Twitter’s fortunes. But if anyone can turn things around for the struggling platform, it’s Elon Musk. Here’s how he plans on doing it.
Most recently, billionaire Elon Musk announced on Tuesday that he’s reached an agreement with Twitter CEO Jack Dorsey to buy out his struggling company and save it. While details of the deal are vague, it would appear that Musk would become both a CEO and major shareholder of Twitter, with Dorsey staying on as a figurehead. If Tesla’s stock price is any indication, investors are flocking in support of Musk’s plan. But what exactly is his master plan for saving Twitter? Here are some of his initial ideas.
While it’s unclear exactly what course of action he’ll take first, one thing is for sure: anything he does will be big and disruptive. Despite only having sent a handful of tweets (that weren’t sarcastic criticisms), he has already hinted at his new plans in an interview with Time magazine, I really think [Twitter] has significant upside…I would only do something where I know that [the plan] would be viewed favourably by even conservative shareholders. And in fact, I intend to let them vote on it.
3 reasons why it will work!
- With almost 300 million users, it’s one of the largest social media sites around.
- It’s really popular with Millennials, who are more likely to follow brands than their elders and still form an important part of corporate marketing plans.
- Buying a platform like Twitter gives you access to its data. That means that your company can use big data analytics to better understand what people want from brands—and how best to give it to them. And that can only be good for business. In fact, if Elon Musk is right about his plan for Twitter, we could all be in for a very interesting ride indeed.
The challenges – how will it cope with them?
Taking on a behemoth like Facebook won’t be easy. Right now, there are many areas where Facebook is better than Twitter, in particular with things like video content and an easy-to-use interface. But we may see that start to change as Elon Musk starts implementing his plan for making Twitter even more popular than it already is. Also interesting will be what sort of security measures Mr Musk can put in place to stop accounts from being hacked and false information from being published on his new company’s social media site. One thing that’s worth remembering though – is that despite its flaws, people still love using Facebook.
One of Facebook’s major advantages is that it’s one of few social media sites that has managed to keep itself from being flooded with fake news, unlike Twitter. It will be interesting to see how Elon Musk plans on changing that and ensuring that his company doesn’t suffer in terms of its reputation as a result. That’s important for Mr Musk because he knows if people don’t trust or feel comfortable using his site then they won’t stick around for long. In order to encourage them not only back, but also get them to invite their friends along too, he needs to make sure they know he has their interests at heart.
One of Mr Musks’ key changes is designed with celebrities in mind. Currently, if one of your favourite stars has a big event coming up, you can often find out about it on other social media sites before they tweet about it on their own accounts, which means that many people never actually follow them on their dedicated Twitter profile. How will Elon Musk change Twitter? – Third Paragraph: By following them across multiple platforms, though, you’ll be able to avoid being left out when these events take place. That’s just one of Mr.
Final Thoughts
It’s highly likely that you’ll have questions while writing a business plan. It’s also highly likely that many of those questions won’t be answered by Google. Good thing we live in an age where anyone can access experts on demand; if you have a question, chances are there’s someone out there who knows it and will answer it for you, for a price (or no price at all). Entrepreneurs have learned that the more they sweat in peace, the less they bleed in war. Use your time now to get your ducks in a row and save yourself from stress later on down the road when building your company.
