Elon Musk Paints An Interesting Picture Of Twitter Including Bankruptcy And Other Major Updates

Elon Musk was recently seen setting out a vision for how he plans on making the Twitter app more involved in the payments market.

The news came in the form of a Livestream discussion where the new CEO carried out an intense discussion with advertisers that are closely affiliated with Twitter.

Elon Musk is trying to make payments more accessible to others through the platform. Things like extracting funds and later authenticating bank accounts and maybe even setting out a money market account that encourages users to put out cash reserves on the app instead.

The news comes as Twitter was seen confirming during the early part of this week how it was filing paperwork for payment processing. This report shed light on the app’s filing with FinCEN. This is a mandatory process that notes how a firm would require registration before allowing for any money transfers, cash checks, or exchange moves.

Musk was seen sending out explanations on how paid verifications that Twitter would roll out soon with its Blue subscriptions would enable easy payments on the app. This and its drive for more support on the creator ecosystem could really prove to be great.

Elon Musk says that at the start, the app could really make use of integrated technology and changes in architecture to facilitate more video support. The firm was seen reporting its current work on the future launch of an offering called Paywalled Video. This would enable creators to charge for different types of access to content.

Twitter may end up moving into a different space where it competes with the likes of different providers of social media videos like archrival TikTok, Shorts from YouTube, and Reels from Instagram.

There were plenty of mockups seen from the Washington Post where a simple tweet alongside a video unlocked for a cheap cost of just $1. Other preset prices would be up for grabs when the app decides to launch it. And in this manner, creators could cash balance while monetizing content.

On the other hand, Elon Musk was seen speaking about the thought of bankruptcy as the picture ahead for the company is gloomy. These announcements were made during a meeting with employees.

This was just one day after the new Twitter CEO mentioned in an early morning email that troubled and testing times lay ahead for the firm while banning all forms of remote working.

Let’s not forget the mega string of layoffs that have recently taken place, causing a major shakeup in all divisions. When asked how he planned to deal with attrition, he says that having a small but powerful organization is what it really takes to make an impact and he wanted to achieve that.

If bankruptcy is on the cards since Musk didn’t rule it out, we can see where this is all going. It could actually assist the billionaire cut out major debts of the firm.

To better understand Musk’s frame of mind, it’s best to go through the email he sent out at 2:30 am to his Twitter staff that not only ended remote working but added a warning.

All staff members would be needed to return to the office and serve around 40 hours a week. This was definitely a tough and arduous road but he planned to do just that. There would be no more days of rest too and these were clear reminders of what was running through his mind.

Lastly, Elon Musk wants to introduce targeted ads on the app. He would adore ads for gizmos as it was something he’d buy in a heartbeat.

More details were added in terms of advertising strategy during his first meeting.

Read next: Twitter Deletes Its Newly-Launched ‘Official’ Checkmark
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