Submit Musk deal, Twitter CEO Parag Agarwal talks to staff about firm’s unsure future
Regardless of initially adopting a ‘poison capsule’ technique, Twitter has ultimately caved in and bowed down to the need of Elon Musk. The world’s richest man has left no stone unturned in his quest to accumulate Twitter and unlock its “extraordinary potential,” and has formally succeeded.
CEO Parag Agarwal nevertheless feels, that the long run is now an unsure one, in accordance with a number of staff, to whom he spoke candidly in a company-wide city corridor assembly. Whereas the deal to promote Twitter to Musk for $44 billion (which is $1 billion greater than Musk’s “greatest and remaining supply”) has formally been introduced, the deal is but to be closed.
Agarwal deferred many questions requested by staff (together with Musk’s plans for Twitter, the rationale of the board relating to the approaching acquisition, and the potential of layoffs) saying that they need to be put to Musk, who will be a part of the corporate’s employees for a Q&A session at a later date.
Nonetheless, he allayed fears of layoffs by assuring them that no such factor could be happening. Bret Taylor, chair of Twitter’s board of administrators, reiterated the purpose, saying that the settlement with Musk prioritized “working continuity” till the deal was closed.
“I believe we really feel very comfy that (the deal) provides this staff the flexibility to proceed to make the corporate profitable in between signing and shutting the transaction,” Taylor mentioned.
When requested whether or not former US President Donald Trump will make a comeback to Twitter as soon as the titan got here into Musk’s fingers, Agarwal replied that when the deal closed, they didn’t know wherein course the platform will go. It’s possible you’ll keep in mind that Trump had been completely suspended from Twitter in 2021 following the assault on the US Capitol.
“I imagine when now we have a possibility to talk with Elon, it’s a query we should always handle with him,” he mentioned.
Nonetheless, the previous US President answered the query himself, saying that he wouldn’t return to Twitter even when Musk was shopping for it. “I can be on Reality Social inside the week. It’s on schedule. We’ve got lots of people signed up. I like Elon Musk. I like him lots. He’s a wonderful particular person. We did lots for Twitter once I was within the White Home. I used to be upset by the best way I used to be handled by Twitter. I gained’t be going again on Twitter,” Trump mentioned.
Musk has been a controversially robust advocate of “free speech” and has maintained that Twitter, which is the de-facto city sq. of the twenty first century, needs to be a platform without cost speech. After all, Musk has his personal definitions to free speech maybe, contemplating he himself has been identified to close down critics of his work at Tesla and SpaceX.
It’s at present unknown whether or not Musk will take up the place of the Chairman, on condition that he had refused to hitch the board of administrators of Twitter earlier. After all, that had come after his stake of 9.2% in Twitter had been disclosed. If Agarwal faces the axe inside 12 months after the acquisition, then he can be paid an estimated $42 million.
The query is, will free speech discover its manner again to Twitter by the hands of the world’s richest man, whose penchant for utilizing social media for a number of functions is well-known? Solely time will inform.
