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There has been much speculation about Elon Musk’s potential plans for Twitter. Following his $44 billion bid for the social media platform, after securing more than $7 billion in equity from some of his friends and revealing that he will most likely become temporary CEO, there are now some glimpses of his grand vision.
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According to a pitch deck to investors obtained by The New York Times, Musk – the richest man on the planet – said he aims to quintuple Twitter’s revenue to $26.4 billion by 2028, compared to $5 billion last year. Additionally, The New York Times reported that Musk intends to reduce Twitter’s reliance on advertising to 45% of revenue.
“In 2028, advertising would generate $12 billion in revenue and subscriptions nearly $10 billion, according to the document. Other revenue would come from businesses such as data licensing,” the New York Times reported.
It also intends to grow the number of users to 931 million in 2028, up from 217 million at the end of last year, with most of the growth coming from Twitter’s ad-supported businesses, including Twitter. Blue.
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The pitch deck also described a new product, called X. “The document did not detail what X followers were, but Mr. Musk hinted at the introduction of an ad-free experience on Twitter,” according to the New. York Times.
Finally, Musk said he wanted to hire 3,600 employees. “By 2025, Mr. Musk projects that Twitter will have 11,072 employees, according to the document. That would be up from around 7,500 today,” The New York Times noted.
In a series of tweets on May 6, Musk also outlined some of his vision for the platform, stating that “if the Twitter acquisition is completed, the company will be very focused on software engineering, design, infosec and server hardware”.
He then added: “I firmly believe that all managers in a technical field must be technically excellent. Software managers have to write good software or it’s like being a cavalry captain who can’t ride a horse!
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Finally, he tweeted, “Also, work ethic expectations would be extreme, but far less than I demand of myself.”
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