Musk is on the hunt for a new Twitter CEO
On Tuesday, Elon Musk announced that he plans to step down as Twitter’s CEO. He humorously claimed he was willing to leave as the CEO once he had found someone “foolish” enough to take over the role.
The absurd statement from the billionaire sparked curiosity and amusement in the minds of many. Some wonder who could be daring enough to accept such a challenge. This isn’t the first time Musk has caused a Media stir with his out-of-the-box musings.
Elon Musk tweeted, “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams.”
I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams.
— Elon Musk (@elonmusk) December 21, 2022
On Sunday, Musk sparked a frenzy on Twitter when he ran a poll asking his followers whether or not he should step down as CEO of the social media platform. The poll added fuel to the ongoing speculation that the tech mogul was planning another big pivot from his current position in charge of the social media site.
He tweeted, “Should I step down as head of Twitter? I will abide by the results of this poll.” The poll garnered almost a million votes for Yes. It has 57.5% voting in favor of him leaving his position as CEO.
Moreover, Musk has following tweets after the poll. “As the saying goes, be careful what you wish, as you might get it. Those who want power are the ones who least deserve it.”
Elon Musk Twitter poll response
Elon Musk’s announcement on Tuesday that he would resign from Twitter’s CEO role intensified the speculation surrounding the move. Especially after CNBC reported earlier that he had been looking for a replacement. His decision to step down was already in motion before he made his poll on the matter public, leading many to believe there could be more to this story than meets the eye.
— Hodgetwins (@hodgetwins) December 20, 2022
From the moment Elon Musk took over as CEO of the social media platform, chaos and contradictions marked his reign. Staff turnover numbers have skyrocketed as thousands of employees resigned, were fired, or laid off.
This instability remains unabated as many advertisers have chosen to abandon the site out of worries about inadequate content moderation. The jarring policy changes that Musk himself implemented didn’t help much on the issue – actions that have sometimes he reversed just days later.
Musk has taken an unconventional approach to run Twitter since taking ownership in late October. He mostly relies on the voices of his users. Musk has made it a point to poll his users on various issues around the platform.
Some of the significant changes include reinstating former President Donald Trump’s account and bringing back the video-sharing app Vine. He embodies this practice with his now famous Latin slogan “vox populi, vox dei” – or “voice of the people, voice of God.”
Hey @elonmusk, it’s unwise to run a poll like this when you are now deep state enemy #1. They have the biggest bot army on Twitter. They have 100k ‘analysts’ with 30-40 accounts all voting against you. Let’s clean up and then run this poll again. The majority has faith in you. 😘 https://t.co/y2piyeE84a
— Kim Dotcom (@KimDotcom) December 19, 2022
Critics have accused Elon Musk of hypocrisy after he failed to unsuspend Twitter accounts that allegedly doxxed his exact whereabouts in real time. The accusation, which came after a poll on Twitter resulted in users voting to unsuspend certain accounts, came with disdain from the public.
Accounts such as @ElonJet, which published publicly available information regarding Musk’s private jet and its owner Jack Sweeney’s personal account, remain suspended.
Elon Musk Twitter takeover
The Tesla CEO has certainly had an eventful two months at the helm of Twitter. An inexperienced figurehead with little to no prior experience in social media management, periodic firings, and drastic cost-cutting measures marked his start as the CEO. He had dismissed Former CEO Parag Agrawal, CFO Ned Segal who had made critical comments on Twitter and Slack.
Moreover, he also laid off thousands of other workers. A decision that Musk said he needed to abide by due to the company’s consistent losses estimated at $4 million each day. Musk also had to remove free lunches as part of Twitter’s cost-cutting procedures. He said each meal cost more than $400.
In light of cost-cutting, Elon Musk issued an edict. It involves those working at Twitter needing to go “above and beyond” the usual performance demands. Unfortunately, only half of the remaining staff accepted the challenge, according to a source close to the company.
BREAKING: Elon Musk has lost his poll and will presumably step down as head of Twitter. pic.twitter.com/G5N2Innpsc
— Pop Crave (@PopCrave) December 19, 2022
The issue of former Twitter workers filing lawsuits against the tech giant has recently been brought to light. The suits claim that Twitter failed in its promise to provide severance packages. There was also the issue of unfairly letting go of a disproportionate number of female workers.
Musk has always been vocal about his commitment to upholding free speech on the platform. He is also willing to take risks to keep it alive online. Although he recently reinstated accounts temporarily blocked to maintain somewhat of an equal playing field, this move has come with some controversy for Twitter as some users and activist groups have noticed a spike in hate exchange.
Elon Musk is facing numerous troubles concerning his dual role as CEO of both Tesla and SpaceX. Recently, with the announcement of the search for a new Twitter CEO, analysts and shareholders alike have expressed concerns. They think Musk’s efforts might be too spread across the two companies.
This news has been compounded by Tesla’s share price declining by an alarming 61% this year. Some call for a better streamlining of Musk’s efficiency between his two jobs to keep up with the competition.