Elons Twitter
A little more than a year ago, Elon Musk made a hostile takeover bid to buy Twitter. Today on \u201cPost Reports,\u201d we look back at a chaotic year for the platform and ask what we can learn from Musk\u2019s handling of the company as he appoints a new CEO.
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Twitter has been dramatically transformed under Musk, and few \u2014 even among some in the billionaire\u2019s corner \u2014 say the changes have been for the better. In recent weeks, government agencies, news organizations and powerful social media influencers have questioned the usefulness of the platform, with some major players publicly abandoning their accounts or telling users that they can\u2019t rely on it for urgent information.
Advertisers have fled in droves over Musk\u2019s policy changes and erratic behavior on the site, causing advertising revenue to recently drop by as much as 75 percent, according to a person familiar with the matter who spoke on the condition of anonymity to share sensitive internal information. Rounds of layoffs have left Twitter operating with a skeleton staff of 1,500 \u2014 an 80 percent reduction \u2014 and the platform is so riddled with bugs and glitches that the site goes down for hours at a time. Meanwhile, the company\u2019s valuation has cratered, Musk has said, to less than half the $44 billion he paid when he bought the company roughly six months ago.
Along with culture changes, Musk has reinvented the platform in ways that have confused users, who once knew Twitter as a widely admired news aggregator.
As Musk appoints a new CEO and steps down, we look back at how he\u2019s managed the company, the changes he\u2019s made to the platform and how his reputation has shifted because of all this.