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Elon's Plans for Twitter

Elon Musk said he expects to find a new leader to run Twitter and reduce how much time he spends managing the social media platform he acquired last month for $44B. The SpaceX and Tesla CEO made the remarks yesterday while testifying in a trial over his 2018 compensation package at Tesla. Musk also issued an ultimatum to Twitter employees in an email yesterday, giving them until 5 pm ET today to either commit to working long hours to build Twitter or leave with three months of severance pay. The news comes after the billionaire laid off half of Twitter's 7,500-person workforce and fired top executives. Musk's first two weeks at the helm have also been marked by other changes, including a rollout of Twitter Blue, a new paid verification subscription service, which was later rescinded after scammers impersonated brands, celebrities, and other public figures. The service is set to relaunch Nov. 29. Twitter has also reported about 20% growth in its daily users; the platform last reported 237.8 million users in the second quarter when it was still public.

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