Elon Musk will not remain CEO of Twitter indefinitely. After more than 10 million users of the social network asked him to leave office in a survey, the tycoon has confirmed that he will take the step, but first he must find someone to succeed him.
“I’ll resign as CEO as soon as I find someone dumb enough to take the job! After that, I’ll just run the software and server teams,” MusK wrote on Twitter in a message in which he directly responded to the survey.
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
The tycoon, who also runs companies like Tesla and SpaceX, had always made it clear that I didn’t expect to spend too much time managing the social network, for which he paid $44 billion less than two months ago. “I hope to reduce my time on Twitter and find someone else to manage Twitter over time,” she said a few weeks after taking control of the ‘app’.
Since Elon Musk acts as CEO of the platform, the application has been running shrouded in controversy. Mainly, due to its soft hand in terms of moderation, which has caused many of the main advertisers -the site’s main economic support- to abandon it or drastically reduce their investment.
Many users have also opted to leave the application to start trying their luck with competing tools, such as Mastodon, an alternative site that has experienced significant growth in the number of Internet users in recent weeks.
The tycoon has made other controversial decisions. Under his command, more than half of Twitter’s staff have ended up fired or resigning, including most of the former managers. All this, added to his way of communicating his movements through the social network, “always in an incendiary way”, according to experts, has ended up affecting the other companies that he controls.
Possibly, the one that has come out the most disadvantaged so far is Teslacompany whose shares have lost about 60% of their value so far this year. The fall, moreover, has been constant since Musk took over.
Already at the moment in which he launched the survey asking users about his permanence in the direction of the company, Musk made it clear that finding a suitable CEO for Twitter at a time like the present is quite complicated. “Nobody who can really keep Twitter alive wants the job. There is no successor, “he said in a tweet last Sunday.
No one wants the job who can actually keep Twitter alive. There is no successor.
— Elon Musk (@elonmusk) December 19, 2022
“The question is not to find a CEO, the question is to find a CEO who can keep Twitter alive,” said the magnate in a response to another user of the platform. And it is that the drop in advertising revenue, those that represented 90% of the platform’s business, is making a special dent in the application. So much so that it even runs the risk of going bankrupt, as Musk himself has been warning for weeks.
Recently, ‘The New York Times’ reported that Twitter has not paid the rent for its headquarters and its offices for weeks. Meanwhile, the still executive director and owner of the platform is looking for new investors for the ‘app’ with whom to improve the status of their accounts.
And those aren’t the only issues the tool has; It has also been reported that former Twitter employees are working on the development of a new application that would seek to compete with Musk’s platform. Likewise, other companies Meta of Mark Zuckerberg have begun to add functionalities based on the publication of micromessages on Instagram.
“Musk has done nothing but lose”
All the experts in social networks consulted by ABC during the last days agree that the situation of Twitter requires a change. Fernando Checa, professor of Communication at the International University of La Rioja, points out that, as far as Twitter is concerned, so far “Musk has done nothing but lose.”
«The most logical thing is that he is preparing the way and that he ends up placing someone close. This would put out the media fire, “says the teacher. Likewise, he emphasizes the difficult situation in which the tycoon is leaving his other companies due to his behavior as Twitter’s chief executive. Something that, as he points out, could even cost him dearly, especially in the case of Tesla: “It would not be the first time that the shareholders of a technology company depose their CEO even though he has the majority of the shares.”
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