Twitter has seen major transformations since Elon Musk took over, which included policy shifts, public outcry, and business strategy changes. From introducing a paid verification system and controversy around the reinstatement of high-profile accounts, to financial hurdles and redesign plans, Twitter’s journey under Musk has been anything but dull. Here’s a summary of the roadmap that Twitter has followed so far, under the leadership of Musk.
The Shift in Verification System
Under Musk’s leadership, Twitter experienced a major shift in its verification system.
The iconic blue badge that marked a verified account was replaced by a paid verification system.
This change sparked numerous concerns about security and led to public displeasure.
Later, Twitter introduced gold and silver ticks for brands and government officials.
Eventually, the notorious blue ticks resurfaced for celebrities, vouching for the authenticity of their accounts.
Technical Hitches and Emerging Competition
With daily active users nearing 200 million, Twitter has been riddled with technical issues post-takeover as Musk set out to refine the platform.
Recent additions include the ‘For You’ and ‘Following’ tabs.
All the while, competition has been heating up, with the recent launch of Meta’s text-based ‘Threads’.
Despite an estimated user count of 150 million, Threads’ user engagement seems to be on a downward trajectory.
Rebranding Plans and User Exodus
As Musk gears up to overhaul Twitter’s name and logo, there’s growing dissent among users.
Many influencers have declared their decision to quit the platform, adding to the previous wave of user exodus post-takeover.
Musk has rebranded Twitter’s parent company as the ‘X Corporation’ and proposed a shift towards an Art Deco style ‘X’ emblem.
In the new identity, a tweet could soon be known as ‘an X’.
Controversial Account Restorations and Layoffs
Musk caused a stir when he chose to reactivate multiple high-profile accounts that were previously suspended, including those of rapper Kanye West, influencer Andrew Tate, and former US president Donald Trump.
Concurrently, Musk initiated significant layoffs at Twitter, cutting almost half of its employees.
His emphasis on extreme performance from remaining staff drew widespread criticism.
Financial Turmoil and New Revenue Strategies
In tandem with internal shake-ups, Twitter’s advertising business saw a steep decline, with the platform witnessing approximately a 50 per cent drop in ad revenue.
Struggling with a hefty debt and negative cash flow, Musk is probing new revenue generation options.
Among these is the introduction of payments and commerce on the platform, aiming towards an ‘everything app’ offering social media services along with peer-to-peer transactions.
