|Posted by JJ The Psychotherapist on June 16, 2022 at 11:00 PM|
Furthermore, Musk indicated that remote working at Twitter under his leadership will be completely prohibited, similar to a restriction recently implemented at Tesla, where he is the CEO. Only "exceptional contributors" would be allowed to work from home for a good cause, with all exceptions personally authorized by him.
Musk also discussed his strategy for growing Twitter's user base to 1 billion people and implementing a subscription model – with additional benefits (e.g., account verification) for paying customers – while still allowing non-paying users access to all information.
The conference was organized by Twitter CEO Parag Agarwal as a method for staff to understand about the company's future after Musk's takeover. Agarwal had requested workers in an email on Monday to submit questions for Musk in advance, which were picked for the meeting, which was mediated by Leslie Berland, Twitter's senior marketing officer.
Musk's acquisition of Twitter has been fraught with controversy since winning full board approval for the takeover. Most recently, he accused the corporation of withholding information concerning the amount of accounts on the platform that were not managed by genuine people (i.e., 'bots,' and threatened to drop out of the arrangement if the necessary information was not delivered.
The ultimatum came after Twitter's stock price fell significantly in recent weeks, to $37.40 at the end of markets on Thursday — well below the $54.20 per share offer made by Musk and agreed by the Board in April.
Even as Twitter's stock price decreases, Musk has had a tough time raising the necessary funds to acquire the firm.
Following a drop in the price of Tesla shares, which holds the majority of Musk's $206.9 billion net worth, Musk altered his bid, foregoing'margin loans' against his Tesla ownership and soliciting contributions from 19 new investors for his $44 billion acquisition.
Musk's acquisition of Twitter is anticipated to be finalized by November of this year, according to his deal with Twitter.