• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, May 15, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Musk Agrees With Dorsey That Twitter Was ‘Impossible To Reform’ — But Doesn’t Regret Paying ‘Outrageously High Price’ For It

by Sumbul Farid
June 1, 2023
in Business, News, Tech, World
Reading Time: 3 mins read
0
Twitter Accuses Microsoft of Unauthorized Data Use

Credits: Fox News

TwitterWhatsappLinkedin

In his recent interview, the soon to be ex Twitter CEO Elon Musk seconded his agreement with Twitter’s co-founder and former CEO Jack Dorsey over his opinions about the reformation of the social media platform as a public companyMusk, who took over Twitter in October 2022 in a $44 billion along with a group of other investors, recently sat down with the satirical media group, The Babylon Bee, for an exclusive interview at the Twitter headquarters.

You might also like

89 Million Steam Accounts Allegedly Compromised in Massive Data Breach

Samsung Integrates Gemini AI Assistant into Galaxy Watch6 and Buds3

OpenAI to Increase Frequency of AI Safety Test Result Publications

Credits: The Hans India

During the over one-hour sit-down interview, the Tesla-SpaceX CEO and billionaire talked about several subjects such as comparing Twitter with Monty Python’s “Argument Clinic,” the NPR controversy, and drew parallels between Magneto and George Soros, unveiled hidden censorship layers and talked about reforming the microblogging site as a public company.

In the interview, Musk was asked, “Do you think it’s possible to run a free speech platform that is profitable,” he said, “We’re going to find out.”

The Twitter chief agreed that it’s not easy for a publicly traded company because one can be sued for not taking actions that accelerate profitability. “Jack was right that it was impossible to reform it (Twitter) as a public company.”

Talking about Twitter Files and censorship layers, “We are trying to be as transparent as possible.” “If we’re not going to expose the things we have done wrong, why should people believe us in the future.”

He said they are still unveiling hidden layers of censorship on the social media platform.

Speaking about the Twitter algorithm at present, he said the system pays attention the users’ interaction on the platform. If someone is arguing on the site, “it shows them similar content that the user might want to interact with.”

In spite of getting severe criticism and backlash, when asked if he regrets buying Twitter “just to make a stand for free speech,” Musk mentioned, “I think it was necessary,” adding, “I think it was the right move to acquire Twitter even at the outrageously high price.”

Earlier, it was reported that Musk made it his top most priority on his first day as Twitter CEO to restore the account of The Babylon Bee. It was suspended from the social media platform for allegedly posting anti-transgender tweets against a member of the Joe Biden administration.

The site’s account was restored after three weeks of him getting control of Twitter.

Twitter is now worth one-third of the amount it was when by Elon Musk and co-investors acquired the social media platform in a $44 billion deal, according to a new report by Fidelity published earlier this week.

In Fidelity’s latest Twitter evaluation, the financial services giant forecasted in a monthly report of portfolio valuations that the company is now worth approximately $15 billion, or 33 percent of the October acquisition price, according to a Bloomberg assessment.

Musk has previously acknowledged he paid more for Twitter, which he purchased for $44 billion, comprising $33.5 billion in equity. More recently, he said “Twitter is worth less than half what he paid for it.”

Twitter has been in financial trouble since Musk took over it. After saddling the company with $13 billion of debt, Musk’s peculiar decision making and amendments related to content moderation led advertising revenue to plunge by 50 per cent.

Credits: Fox News

An effort to recover that revenue by selling Twitter Blue subscriptions has so far failed to make a difference. At the end of March, less than 1 per cent of Twitter’s monthly users had signed up.

The precipitous cuts in infrastructure costs also led to the increased risk of crashing of Twitter website and application at the time of crucial events, when users rush to check Twitter to find out recent developments, such as events of major political importance or any sort of crisis.

Tags: Elon MuskJack DorseySocial Mediatechtwitter
Tweet54SendShare15
Previous Post

Amazon’s Ring doorbell was used to spy on customers, FTC says in privacy case

Next Post

Achieving the Perfect Balance Between UI/UX and Marketing Strategies

Sumbul Farid

Recommended For You

89 Million Steam Accounts Allegedly Compromised in Massive Data Breach

by Harikrishnan A
May 15, 2025
0
89 Million Steam Accounts Allegedly Compromised in Massive Data Breach

Millions of Steam users are being urged to change their passwords and secure their accounts following alarming reports that personal data from 89 million user accounts is up...

Read more

Samsung Integrates Gemini AI Assistant into Galaxy Watch6 and Buds3

by Sneha Singh
May 15, 2025
0
Samsung Integrates Gemini AI Assistant into Galaxy Watch6 and Buds3

Samsung is going big with wearable tech this winter by bringing its Gemini AI assistant to the Galaxy Watch6 series and later models. Samsung is bringing its robust...

Read more

OpenAI to Increase Frequency of AI Safety Test Result Publications

by Sneha Singh
May 15, 2025
0
OpenAI to Increase Frequency of AI Safety Test Result Publications

OpenAI released a new web page to share its internal AI safety test results, a major step toward increased transparency in the company's development process. OpenAI's AI lab...

Read more
Next Post
Photo by Alvaro Reyes on Unsplash

Achieving the Perfect Balance Between UI/UX and Marketing Strategies

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?