Elon Musk can lay off a series of employees before recruiting new talent, preparing a business plan, special products for Twitter.
In the file sent to investors that New York Times accessible, billionaire Elon Musk outlined more plans for Twitter if $44 billion deal completed.
Elon Musk announced the acquisition of Twitter on April 25. Image: Financial Times
Personnel reform
New York Times for that after taking over Twitter, the US billionaire can temporarily take over as CEO and fire hundreds of people before recruiting new talent in the technical field. He estimates that by 2025, Twitter will have about 11,072 employees, while the company currently has 7,500 people.
Musk also looks set to make some management changes. He made the point in a tweet shared this week: “I strongly believe that all managers in the technology sector must be excellent people in terms of technology skills. Software managers must write. have great software. Otherwise, they will be no different from a cavalry captain but can’t ride a horse.”
Change business strategy
In addition to staffing issues, Musk announced that Twitter will improve annual revenue to $ 26.4 billion by 2028. Last year, this social network reached $ 5 billion in revenue. To do that, he intends to reduce his reliance on advertising.
In a document sent to investors, the billionaire said that by 2028, advertising will only account for 45% of total revenue of social networks. Other sources of revenue will be from payment and data licensing business. Many speculated that Musk could introduce the payments feature to Twitter. Previously, he succeeded in turning PayPal into a popular digital payment service.
Attract more users
Musk also plans to have Twitter reach 931 million users by 2028. At the end of last year, this social network had 217 million users. According to the Tesla CEO’s plan, most of the growth will come from Twitter’s ad-supported business.
He also did not hide his ambition to charge Twitter Blue users. It is estimated that each person will pay an additional 3 USD a month to customize the experience on the app. Musk estimates Twitter Blue will have 69 million users by 2025, and that will grow to 159 million three years later.
The South African-born billionaire also opened up about the mysterious “X” project, which is said to be a new product of Twitter. In the investor document, Musk didn’t elaborate, but he hinted at introducing an ad-free experience on Twitter. “X Subscriber” is expected to launch next year and have about 9 million subscribers in the first year.
Some other plans
Sharing on his personal page on May 6, Musk said that to achieve the above plans, he will direct Twitter into four focus areas: software engineering, design, information security and server hardware.
The billionaire once mentioned the plan to publicize the platform’s algorithm in the form of open source code. However, according to experts in AI and open source software, making the algorithm public does not help much in making Twitter a more transparent company. This could even create a new set of risks for the platform.
CNN Citing computer science professor Vladimir Filkov at the University of California, California, the decision to allow anyone to view the site’s source code is “quite pointless”, as very few people can understand how Twitter’s codebase works. any.
Khuong Nha (according to New York Times)
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