Elon Musk Announces: Paid Twitter for Businesses

Elon Musk Announces: Paid Twitter for Businesses

Elon Musk Announces

Paid Twitter for companies and government bodies: this is the hypothesis put forward by Elon Musk through a tweet published shortly after 1 am in Italy on May 3, with the possibility of introducing a cost defined as "light", which however, it will not affect private users who will therefore continue to be able to use the social network for free and without limits. This will be just one of the many innovations that should land on Twitter after the recent multi-billion dollar acquisition agreement.

With the surprise move of buying the entirety of Twitter for 44 billion dollars (about 42 billion euros) , Elon Musk is now faced with the urgent need to increase the monetization capacity of the social network. The reason lies in the loans that the tycoon has contracted with the banks that have supported him and which are now asking to respect the still nebulous financial strategy to make the portal more profitable. The details of the commercial plan are not yet public, but it is likely to be imagined that they will be pitted on Twitter by the same patron of Tesla, SpaceX and The Boring Company. The first element seems to be the cost of the service for non-private users.

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“Twitter will always be free for private users , but it may require a slight cost for commercial or government users ”, this is the text of the tweet by Elon Musk who, after having motivated the acquisition of Twitter with the defense of freedom of expression, now moves on to much more pragmatic issues. What to expect from Twitter's new course? According to what can be read on Reuters, Elon Musk is planning a significant reduction in the remuneration of various executives and members of the board of directors and cuts in staff are also not excluded, as reported by Bloomberg.

It is possible that there is a change at the top with a new CEO in place of Parag Agrawal, there are those who even hypothesize a return of the founder Jack Dorsey. Among the other advances that emerged in the past few hours there is also the possibility that Twitter will return to the stock exchange within three years (2025) once the portal has been refounded and revolutionized, as reported by the Wall Street Journal. The premium subscription to the Twitter Blue service should modulate the price according to the geographical areas to be more consistent with the purchasing power in the various parts of the world and, finally, it is not utopia to imagine a tip formula with Dogecoin.

Elon Musk Says Some Twitter Users Will Have To Pay To Use Platform

Elon Musk, who is in the process of acquiring Twitter, announced the latest change he is envisioning for the platform: that some users will have to pay to use the service.

“Ultimately, the downfall of the Freemasons was giving away their stonecutting services for nothing,” Musk tweeted Tuesday.

“Twitter will always be free for casual users, but maybe a slight cost for commercial/government users,” he continued.

Twitter is free for users at the moment, but also offers a subscription-based product called Twitter Blue in four countries: the U.S., Canada, Australia and New Zealand. The cost for U.S. users is $2.99 per month.

In tweets that have since been deleted, Musk called for changes to Twitter Blue, including reducing the cost for subscribers and removing ads, according to The Guardian.

Last month, Twitter’s board accepted Musk’s offer to buy the company for about $44 billion. The agreement includes a $1 billion termination fee, which Musk will have to pay if he walks away from the deal, according to Bloomberg.

“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,” Musk said in a press release announcing the agreement. He also said he will change algorithms and get rid of spam bots on the social media platform.

Critics of Musk’s free speech absolutism have noted that Twitter is already a platform where women, racial minorities and other marginalized groups are targeted for harassment, and his proposed hands-off approach may only make the problem worse.

The billionaire has also tweeted in support of end-to-end encryption on direct messages, and polled his now over 90 million followers on the creation of an edit button.

Musk spoke about his vision for Twitter while attending the Met Gala on Monday. His goal for the platform is to “have a service that is as broadly inclusive as possible, where ideally most of America is on it, and talking,” Musk told reporters on the red carpet.

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Despite its cultural significance, Twitter is a smaller business compared to some of its well-known rivals.

The company is ranked No. 15 by number of monthly active users, as of January 2022, according to Statista. By these metrics, Twitter has 436 million monthly active users, while Facebook, which is on top of the list, reaches over 2 billion users.

This article originally appeared on HuffPost and has been updated.