Elon Musk is generally classified as a Bictoin supporter. World-renowned entrepreneur with a fortune that places him among the richest men in the world, Elon Musk bought the social network Twitter on October 27, 2022. This acquisition is fundamentally related to the crypto sphere, so Elon Musk has already used the platform to talk. of digital assets and blockchains. The social network is known to be a platform for more or less peaceful debates, as it reveals the tensions in our societies. Two elements suggest that Elon Musk wants to make a 180 ° change: the new Twitter Blue subscription and the massive layoff plan.
Elon Musk’s new Blue Twitter subscription
Huge changes for the media goliath are unfolding. It is now reported that Twitter is running out of ad-free posts for its blue followers. This subscription service that tried to revolutionize the platform debuted over a year ago. It promised to give users access to exclusive features, titled the new “delete tweet” option. Among these premium offers was the ability to access ad-free articles from a variety of publishers. These range from sites like the LA Times to Insider. However, with the arrival of new owner Elon Musk at the helm of Twitter, it looks like things are about to change.
Additionally, verified or blue tick users will have to pay for their verified status in the future. The company’s goal is to set up a monthly subscription for these users, which would unlock more features. So current verified users will have 90 days from launch to sign up for the new feature. The conclusion at the time of this writing is that Elon Musk’s new Twitter Blue subscription will not require users to provide identity authentication to receive a verification badge. Finally, to get this badge, it takes $ 8 a month.
Elon Musk fires 50% of Twitter staff
It is in fact the cold shower in the premises of Twitter. As usual in the event of a change of ownership, the layoffs are massive. After the $ 44 billion acquisition of Twitter, new management took over. Amid the plethora of changes under its new evolution is now the firing of a significant portion of Twitter employees. Elon Musk pointed to the significant reduction in the number of advertisers as the incident that triggered the drop in profits. Conversely, layoffs soon followed, just over a week after the CEO’s tenure. In a tweet written by Elon Musk, the background of these implemented layoffs is explained. Musk said the company’s actions towards advertisers were ” extremely gross“. He called it an attack on free speech in America.
Now, former Twitter employees are ready to sue the social network. The class action was filed in the San Francisco federal court. Additionally, five former employees led the lawsuit against the social media giant. In fact, the Federal Worker Adjustment and Retraining Notification Act (WARN) requires 60 days notice for mass layoffs or plant closures.
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To the angelism of the intercessors of the current monetary system I oppose DeFi, digital assets and the metaverse. Lawyer in Luxembourg, I am interested in cryptocurrency investment funds.