The news is now out that billionaire Elon Musk finally reached an agreement to buy the social media app Twitter for $44 billion on Monday. The business tycoon said Twitter is the “digital town square.” Now making him the largest shareholder in the company, the reasons for his investment in the platform are shared.
In a letter to Twitter Chairman Bret Taylor, Musk shared ‘I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy. This reflects in his latest tweet where he wrote ‘I hope that even my worst critics remain on Twitter because that is what free speech means.’But as well as being democratic, what other plans does Musk have that will dramatically change the current status of the app?
I hope that even my worst critics remain on Twitter, because that is what free speech means
— Elon Musk (@elonmusk) April 25, 2022
According to statista.com, a March 2020 article revealed that Facebook ranks at the top with 2,910 million active users and Twitter is 14th on the list with 436 million active users. The first plan of action that Musk had shared was on Twitter where he wrote “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated. I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spambots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and that community of users to unlock it.”
🚀💫♥️ Yesss!!! ♥️💫🚀 pic.twitter.com/0T9HzUHuh6
— Elon Musk (@elonmusk) April 25, 2022
- Enhancing the product with new features
Every social media app is updated with new features on a regular basis in order to up its status in the market and produce better customer satisfaction. If we look at Twitter’s current unique features or tools, these include, being able to share news in real-time, tweet celebrities and influencers, and share other peoples’ tweets or like their tweets.
These are the basic rules of Twitter, so when Musk says he will be enhancing Twitter with new features, what can we expect next? Maybe Twitter shorts? Introducing video content in short-form like TikTok, YouTube, and Instagram on Twitter? There is also a conversation that Musk will be making crypto payments a norm on the platform, expanding the range of coins including his Dogecoin as part of it. Accepting crypto payments will really create a new way of experiencing the digital world through social media and change the game on the platform. There could also be the possibility of Musk releasing a Twitter Coin. This would mean Twitter would be an integral part of the cryptocurrency economy and would allow users to voice their changes on the platform as Twitter is currently private.
Musk had sponsored a Twitter poll asking followers if Twitter should have an edit button. This would mean that any tweets that have been posted on the app can be edited after posting. This does match up with the conversation of free speech, however, does it make it authentic? If people are embedding tweets and using them for articles or research purposes, how reliable will the source be if it’s changed every 2 minutes? It would be similar to a Facebook status which you can easily edit and change and does make it freer to use rather than having to delete everything and start over if need be.
- Making the algorithms open source to increase trust
Transparency is important when it comes to social media and therefore Musk focusing on this part of the app allows for increased trust and is more open to a wider audience. Understanding the current algorithms of Twitter and seeing what can be done better is integral to the growth of Twitter, in addition to businesses, brands, influencers, and more. Analysing where their tweets are going, and whether they are widespread or even visible will help generate better insights into the growth of Twitter profiles.
- Defeat the spam bots
Although this is something that would be quite difficult to defeat, Musk will use AI technology to identify where the bots are. In the dictionary, a spambot is defined as ‘an autonomous program on the internet that sends spam to a large number of users or posts spam on online forums.’ Twitter is known for having “Twitter bots” which act as spam, spreading fake news campaigns, spamming accounts, and violating users’ privacy. This is an important factor when considering the privacy of individuals and the impact it has on the social media platform. With controlled bots, Twitter can remove all spam content and create a cleaner, safer, and user-friendly product.
- Authenticating all humans
Following on from the third point, Musk would finally like to authenticate users with a blue tick on Twitter. Currently, you would need to confirm your identity depending on the category and submit either an official website that references you, ID verification or an official email address. Your account should also be notable, and active. The same steps may be carried out for users to get their authentication, but will be simpler so everyone can get the infamous ‘blue tick.’
Which feature are you most interested in finding out more about or do you think will help Twitter reach a new level? Let us know by tweeting us @itpliveme.