- Elon Musk appears crowdsourcing business ideas via Twitter users.
- Musk wants Twitter to be profitable, even though the company is liable for billions of dollars in interest due to Musk’s deal debt.
- Musk replied to tweets proposing new analytics tools, and reviving Vine for TikTok.
What’s the latest happening at Twitter in Elon Musk’s direction? Visit his Twitter account.
Although Musk’s plans for making Twitter more profitable have been shrouded in mystery, it appears that he is crowdsourcing management and business ideas from Twitter users.
One thing is clear: Musk is looking for a way to make Twitter some money — quickly. However, it is unclear if Musk had any specific plans to monetize the platform after he completed his $44billion acquisition.
Musk’s most recent example of public opinion-driven decision making was the selection at $8 for Twitter’s price point Twitter Blue offering redesignedFor users who pay monthly, a blue checkmark will be included.
Musk wanted to initially charge $20 per Month, according to a. Report by The Verge, but he seemed to switch gears when users — including the famous author Stephen King — balked at the price tag.
“$20 per Month to Keep My Blue Check? They should pay me. If that happens, I’ll be gone like Enron.” King Tweet.
Musk tried to negotiate with King and replied to King’s tweet saying “we need to cover the bills somehow!” Twitter can’t rely on only advertisers. What about $8?
This conversation is similar in many to Musk’s on Twitter recently. It seems like Musk and his team are trying to figure out how Twitter will evolve.
Musk had promised investors earlier this year that he would increase Twitter’s revenues to $26.4 billion by 2028. AccordingThe New York Times. It is clear that he has much to do, given that Twitter lost $270 millions in its latest quarter. Twitter will now owe approximately $1 billion per annum in interest payments. This is due in part, to the $13 Billion Musk borrowed from banks in order to purchase the platform.
However, some ideas from Twitter users could make Twitter some cash in the short term.
Musk suggested that users track analytics for hashtags and charge for them (“sounds good to me”) ). Another OfferedThe idea to revive Vine (the short-form video site Twitter that was shut down in 2017), to compete with TikTok (“What could we do better than TikTok?” Musk Frequently Asked QuestionsHis followers.
Musk’s focus has not been on revenue-generating strategies.
Users suggest features that they think would improve the platform, such as purging inactive account to free up Twitter handles (“Definitely,” Musk Answered) and IncreasingThe maximum length of videos that could be uploaded to the site. Musk replied with the “100%” emoticon.
