The New Owner Was Like a Kid Justifying Stealing Cookies Before Dinner. "We Need To Pay the Bills Somehow."
Musk's proposal to charge $8 for verified Twitter accounts is facing some user backlash. But what does this mean for the future of social media?
Some people are saying that this could be the end of Twitter as we know it. After all, if users have to pay to verify their accounts, that could lead to a mass exodus of users who can't or don't want to pay.
But others are saying that this could be a good thing for the platform. After all, if users have to pay to verify their accounts, that could lead to a more select group of users who are more likely to be active and engaged.
Only time will tell what will happen with Musk's proposal. But one thing is for sure: it's definitely got people talking.
Musk's proposal to charge $8 for verified Twitter accounts is facing some user backlash. But what does this mean for the future of social media?
Some people are saying that this could be the end of Twitter as we know it. After all, if users have to pay to verify their accounts, that could lead to a mass exodus of users who can't or don't want to pay.
But others are saying that this could be a good thing for the platform. After all, if users have to pay to verify their accounts, that could lead to a more select group of users who are more likely to be active and engaged.
Only time will tell what will happen with Musk's proposal. But one thing is for sure: it's definitely got people talking.
Twitter is currently facing a user backlash over proposals to charge for verified accounts, but Elon Musk has indicated that the feature could still cost $8 a month in the future. In a Twitter post to his more than 110 million followers on Tuesday, the new owner of Twitter described the current system for allocating blue check marks - which verify a user as a trustworthy source - as "bullshit". "Twitter's current lords & peasants system for who has or doesn't have a blue checkmark is bullshit. Power to the people! Blue for $8/month," Musk wrote.
Twitter has announced that it will be charging 8 dollars for verification batches. This is to ensure that only verified users are able to access the platform. Twitter has been under fire for allowing fake and bots accounts to remain active on the site, so this move is likely in response to that criticism.
Musk noted that the price could vary depending on the country. Twitter's Blue service is currently available in a limited number of countries, including the US, Canada, Australia and New Zealand. The service costs $4.99 a month in the US, and provides access to a number of benefits, such as the ability to undo tweets.
In the Twitter thread, Musk said subscribers to the new Blue service would also get priority in replies, mentions and search, which he said was "essential to defeat" spam accounts. Users will also see half as many adverts and will be able to post long video and audio clips. No timing for the changes was announced.
The changes would affect about 400,000 blue tick accounts on Twitter. Advertising, which would be reduced for Blue subscribers under the plans, accounts for a whopping 90% of Twitter's $5bn in annual revenue.
On Tuesday, one of Elon Musk's financial backers supported the $8 proposal for the Twitter takeover. The founder and chief executive of Binance, the cryptocurrency exchange that has invested $500 million into the deal, said he backed the plan because it would eliminate vexatious automated accounts, or bots.
"We are supportive of that," Changpeng Zhao told the Web Summit in Lisbon. "We think that's a great idea." Zhao said he supported "anything that can reduce the bots".
Asked why Binance was investing in the deal, Zhao said: "We want to be extremely supportive of free speech. We are hoping to increase the freedom of money and free speech comes before the freedom of money."
Twitter's blue tick verification process was brought in back in 2009 after a number of celebrities voiced their concerns about being impersonated on the platform. Unfortunately, the programme ran into a few roadblocks when Twitter started withdrawing the verification status from users who were considered to be controversial, like rightwing personality Milo Yiannopoulos. The whole process was put on pause for a few years before Twitter decided to resume it in 2021.
It's only been a week since Musk closed the deal to buy Twitter, and he's already shaking things up. He fired senior executives, made himself the sole director, and brought in a team of associates. He's also reportedly drafting in employees at Tesla to help him run the business. Looks like it's going to be an interesting few months for Twitter!
This week saw more senior staff announcing their departures, withSarah Personette tweeting on Tuesday that she resigned last week. This only adds to advertisers' uncertainty over how the social media company will change under Musk.
Dalana Brand, the company's chief people and diversity officer, announced her resignation last week in a LinkedIn post. General manager for core technologies Nick Caldwell confirmed his departure on Twitter, changing his profile bio to "former Twitter exec" by Monday night.
The top dog of marketing, Leslie Berland, Jay Sullivan, the head of product, and Jean-Philippe Maheu, the VP of global sales have all left Twitter, according to a reliable source. It's not clear if they left on their own or were asked to leave, but either way, it's a big loss for the company.
Here is Musk Confirming it will cost $8.
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