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Global Use of Twitter Hits an “All-Time High” Under Elon Musk

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Twitter Growth Hits an “All-Time High” Under Elon Musk

Elon Musk stated in his first address to Twitter employees since purchasing the company that the layoffs were necessary to keep the social media platform from going bankrupt.

Two executives (Yoel Roth and Robin Wheeler) who had emerged as members of Elon Musk’s new leadership team have allegedly resigned.

When Musk completed his acquisition of Twitter last month, firing the majority of the social network’s top executives.

Roth had taken over all of Twitter’s Trust and Safety efforts, while Wheeler stepped up to oversee relationships with concerned advertisers.

The social network is saddled with significant debt due to the acquisition, and some advertisers have backed off due to Musk’s plans for content moderation.

The Information and Platformer first reported Musk’s bankruptcy announcement.

free food at twitter

According to Bloomberg, Elon Musk told staff that the days of free food and other perks at Twitter’s offices are over.

In discussing Twitter’s finances and future, Musk stated that the company needed to move quickly to make the new $8 subscription product, Twitter Blue, something users would want to pay for, given the impact of advertisers’ pullback on revenue.

Elon Musk warned employees in an email late Wednesday of difficult financial times with “no way to sugarcoat the message about the company’s economic outlook.

He prohibited employees from working remotely unless he personally approved it.

The billionaire recently laid off half of Twitter’s workforce and significantly changed the company’s subscription policies.

twitter

The changes resulted in multiple major advertisers being impersonated by newly paid accounts with blue check marks.

Twitter’s information security chief, privacy chief, and chief compliance all left Twitter earlier this week.

Their departure has raised concerns with leftists over the company’s ability to keep the platform secure and in compliance with the government’s regulatory rules on data.

Twitter is bound by the Federal Trade Commission, which governs how the company handles user data, and violations may result in fines.

According to a company document obtained by The Verge, Twitter’s daily user growth reached “all-time highs” since Elon Musk’s takeover.

According to an internal FAQ obtained by The Verge and shared with Twitter’s sales team to use in conversations with advertisers, monetizable daily user (mDAU) growth has accelerated to more than 20% since Musk’s dramatic takeover.

According to the FAQ, Twitter’s largest US market is growing quickly. Twitter added more than 15 million mDAUs since the end of the second quarter when it stopped reporting financials as a public company.

If those figures are consistent with how Twitter reported metrics when it was publicly available, they suggest that the service has not seen a mass exodus under Musk’s ownership.

twitter

He tweeted on Sunday that “user numbers have increased significantly around the world” since his deal to buy Twitter was announced.

Twitter reported 237.8 million mDAUs and a 16.6 percent year-over-year growth rate in the second quarter.

“Hate speech levels remain within historical norms.”

While users are not abandoning Twitter in droves, advertisers are. Musk said in another tweet on Friday that the company has seen a “massive drop in revenue” due to “activist groups pressuring advertisers.”

Reports of a sharp increase in racist and hateful tweets after his takeover alarmed advertisers, but Twitter later explained that the influx resulted from coordinated “trolling campaigns.”

According to the FAQ for advertisers published on Monday, “levels of hate speech remain within historical norms, accounting for 0.25% to 0.45% of tweets per day among hundreds of millions.”

twitter

Meanwhile, Musk’s destabilization of Twitter’s leadership, combined with the resignation of the company’s top advertising executive, Sarah Personette, has left advertisers trying to figure out who to approach with their concerns.

Alex Josephson, a 10-year company vet currently VP of Twitter Next, a team that has helped brands create campaigns on the social network since 2019, shared the FAQ on Monday.

His post to the sales team notes that Musk’s mass layoffs on Friday affected 25% of the organization and that “the decision to scale back our presence in select geographies contributed significantly to the sales reductions.”

Another source of concern for advertisers has been Musk’s tweeting, particularly a now-deleted tweet that amplified a bogus conspiracy theory about the violent attack on Paul Pelosi.

“Do the same rules apply to Elon as to everyone else on Twitter?” one section of the Twitter advertiser FAQ asks.

“Yes,” is the simple answer.

It also reiterates Musk’s claim that Twitter will not change its content moderation policies until a “content moderation council of widely diverse viewpoints” is formed and convened. It needs to be clarified whether Musk knows that Twitter already has a Trust and Safety Council comprised of outside experts.

Another section of the FAQ emphasizes how quickly things are changing on Twitter right now, stating that the upcoming redesign of the Twitter Blue subscription, which will include paid verification, “will not affect existing verified accounts at this time” and that “large brand advertisers who are already verified will now have an additional ‘Official’ label beneath their name upon Twitter Blue’s relaunch this week.”

Source: Bloomberg, The Verg, VOR News

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