storm timeline: Elon Musk’s latest Tweet 2.0

There have been many changes to Twitter since Elon Musk became CEO.

Some people love it. Some people don’t like it. Many marketers have said goodbye to Twitter.

Many brands have ceased ad postings on the platform due to increased hate speech and safety concerns. Musk’s lax approach to content moderation and account suspensions is another issue.

Here is a list of all the changes made so far. It doesn’t matter if you are a Twitter 2.0 fan, it is worth following what’s going on with Twitter 2.0.

The Twitstorm’s latest news:

• Twitter Offers Advertisers Loving Incentives after Many Marketers Have Left Platform (Wall Street Journal). Advertisers who have booked at least $500,000 of incremental spending will be eligible to receive a match with their spending up to $1 million.
• Twitter Reaffirms that its Moderation Policies have not changed in light of the Musk Takeover (Social Media Today). Musk was quoted as saying that “none of our policies has changed.” Our policy enforcement approach will be more dependent on the de-amplification and suppression of violative content. This is freedom of speech but not freedom to reach.
• Twitter ceases policing Covid Misinformation (Wall Street Journal). Twitter has loosening moderation guidelines, and has stopped enforcing policies that aim to stop Covid misinformation.
• Apple has “mostly” stopped Twitter ads. (Mac Rumors). “Apple has reduced its Twitter advertising,” Elon Musk, Twitter CEO, said. Musk tweeted that Apple had “mostly” stopped its Twitter ads and asked if Apple is against free speech.
• Is Twitter officially dead? It all depends on who you ask. The evolution of suspended accounts and fired executives. Musk’s horrible jokes.
• Twitter adds an Official badge. Musk then immediately destroys it It says exactly what it says.
• How brands are responding to Elon Musk’s radical changes in Twitter Many agencies, including General Mills and Apple, have suspended their accounts.
• Elon Musk takes over Twitter, but marketers aren’t worried

What happened?

• Elon Musk invested in Twitter in January. He secured a 9.2% share, making him the largest shareholder of the company.

• Musk signed a deal with Twitter to acquire the company in April, but expressed concern about spam accounts that were posted on the platform. He claimed that Twitter did not provide him with an accurate estimate of their numbers.

• In April, Twitter also announced that Musk would be joining the company’s board. Musk later stated that he would not join the board.

• Musk offered to buy Twitter for $54.20 per Share by mid-April. This would value the company at approximately $43 billion according to a securities filing.

• Twitter uses a poison pill clause to stop the Musk acquisition, but Musk then offers to buy the company. The deal is valued at $44 billion.

• Musk stated that the deal was “temporary held” due to bot concerns in May. Musk published a Reuters Report on a May public filing that stated fake accounts made up less then 5% of Twitter users. Musk stated that he wanted “details supporting calculation” that spam/fake accounts represented less than 5%. Two hours later, Musk said that he was “still committed” and would not change his mind about the deal.

• Now, Musk is attempting to end his purchase of Twitter. He cites the issue with fake accounts. Twitter sues Musk in an attempt to stop him from completing the deal.

• Musk proposes to close the deal at the original $54.20 per share, at an estimated cost of $44 billion, by October after months of trying to end the negotiations.

• Musk concluded a deal to buy Twitter at the end of October. This was the last day that the trial would have been allowed to proceed. According to a source, several top Twitter executives were fired including Parag Agrawal (CEO), chief financial officer Ned Segal and Sam Edgett (general counsel).

• Musk stated that he would not take any content moderation or account restoration decisions until after forming a new committee dedicated to these issues. Musk tweeted, “Twitter will form a content moderation committee with widely varied viewpoints.” Before that council convenes, there will be no major content decisions nor account reinstatements.

• Twitter announced massive layoffs in November. It reduced its 7,500 staff by nearly half.

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