Elon Musk Says He Will Leave Twitter CEO After Finding A New One

  • Elon Musk has announced that he will step down as CEO of Twitter.
  • Musk surveyed his followers on whether they should give up on leadership. 57.5 percent voted “yes”.
  • The two months he spent in the administration of the site were characterized by chaos and contradictions.

Elon Musk announced on Tuesday that he will step down as Twitter’s CEO once he finds someone “stupid” enough to take on the role.

“I will resign as CEO as soon as I find someone stupid enough to take the job!” Musk wrote on Twitter. “From now on, I will only manage the software and server teams.”

On Sunday, Musk conducted a poll asking his followers whether he would step down as CEO of the social platform he bought for $44 billion.

Musk, “Should I quit my Twitter post?” tweeted Sunday afternoon. “I will abide by the results of this survey.” More than 17.5 million people voted in the poll, with 57.5% voting in favor of resignation.

Musk followed the poll with tweets, “Be careful what you wish for, because you can get it,” and “Those who want power deserve it the least.”

Musk’s announcement on Tuesday that he will step down as Twitter’s CEO comes after CNBC first reported that it was looking for a replacement as head of the social media company. According to CNBC’s report, citing anonymous sources, the search was already underway before Musk’s poll on whether he would resign.

Musk’s reign at the helm of the social media platform has been characterized by chaos and contradictions, with thousands of staff being resigned, fired or laid off. Advertisers flocked to the site over concerns about content moderation, and Musk introduced new policies, apparently on a whim. some made a U-turn later.

Since taking ownership of the platform in late October, Musk has surveyed his users on a variety of issues related to reinstating former president Donald Trump’s account and how Twitter works. Brings back the video-sharing app Vine. Musk used the mantra “vox populi, vox dei”, which translates from Latin as “voice of the people, voice of God”.

Critics used the phrase to mock him and accuse him of hypocrisy after failing to track the results of a poll of Twitter users. voted in favor “who detected my exact location in real time?” Accounts, including the personal account of @ElonJet and owner Jack Sweeney, which have publicly posted information about the whereabouts of Musk’s private jet, continue to be suspended from the site.

Increase in lawsuits, ad boycotts and hate speech

With no previous experience running a social media platform, Musk spent a dramatic two months leading Twitter. Former CEO Parag Agrawal fired staff, including CFO Ned Segal and employees who criticized him on Twitter and on Slack, and took drastic cost-cutting measures, laying off thousands more. Musk said Twitter had no choice but to lay off many people as it was losing $4 million a day.

As part of Twitter’s cost-cutting measures, Musk has also discontinued free lunches, which he says cost more than $400 per meal.

In the midst of austerity, Musk gave staff an ultimatum telling them they had to be “extremely tough” and work “long hours at high intensity” to stay with the company. About half of Twitter’s remaining workforce has not adhered to Musk’s Twitter 2.0 vision, someone familiar with Twitter processes told Insider’s Kali Hays.

Some former Twitter employees have sued the company, accusing the company of failing to deliver the severance packages they were promised and firing some of the female workers unfairly.

Musk has repeatedly pledged to promote freedom of expression on the platform. However, it also disbanded Twitter’s Truth and Security Council, which works to prevent harassment on the site, and reinstated some blocked accounts. Some users and activist groups say there has been an increase in hate speech on the platform since Musk took over.

Amid these concerns about content control, some of Twitter’s top advertisers have removed ads from the platform. Given that Twitter has historically generated about 90% of its revenue from ads, this could put more pressure on Musk’s revamped Twitter Blue subscription service. site.

Musk’s search for a new Twitter CEO comes amid criticism and concerns from Tesla shareholders and analysts that he’s spreading himself too thin. Musk is also the CEO of Tesla, whose share price has fallen 61% so far this year.

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