Elon Musk’s strange idea to make money on Twitter

Tesla CEO (CEO) just bought Twitter for $ 44 billion. The above money was used by the US government to use Tesla shares as collateral to borrow money from banks. However, because each year has to pay interest up to 1 billion USD, making Elon Musk had to immediately come up with the idea of ​​making more money from Twitter to help pay off these debts.

Human resource reform

Report of Washington Post stressed that one of the money-saving plans that Elon Musk is aiming for is to lay off Twitter employees.

CEO Parag Agrawal recently told Twitter employees that the company has no plans to cut staff “at this time”, which is when Elon Musk becomes the new owner. However, according to Reuters, even Agrawal’s future is uncertain as Musk may be looking for a new CEO under his direction. Agrawal took over as CEO of Twitter at the end of November 2021.

Influential individuals and paid tweets

Musk has also come up with ideas like paying “influencers” to create content – much like TikTok and Instagram. However, the model is not attractive enough, such as the occasional payments and unclear conditions for creators to be eligible to participate in the program.

Notably, Twitter already has a “Super Follower” program – allowing creators to grant access to their exclusive content to interested people.

Elon Musk intends to monetize tweets on Twitter. Photo: TNW

One of the weirdest monetization ideas Musk came up with was to convince the bank that third-party websites have to pay for quoting tweets (posts) and also for embedding tweets. Plus, it can kickstart a complicated process to determine ownership of tweets and whether the company should pay the creators of said tweets.

Aside from monetization ideas, the upcoming owner of Twitter is suddenly considering the possibility of cutting back on advertising on this social network.

In fact, reporting its financial results for the first quarter of 2022, Twitter highlighted that its ad revenue reached $1.1 billion out of a total of $1.2 billion in the quarter. So, it can be said that Twitter mainly relies on advertising to make money.

“Billionaire Musk may have put those ideas on his desk, but the implementation is not easy. Remember, Elon Musk also has to run other companies like Tesla and SpaceX. Therefore, he can I can’t spend all my time and energy on Twitter anywhere, anytime,” commented TNW news site.