Elon Musk promised earlier this month to step down as head of Twitter as soon as he found someone “foolish enough to take the job”. A Twitter poll posted by the billionaire entrepreneur following Elon Musk’s temporary resignation found 57.5% of respondents calling for Musk to stop leading the company.
Elon Musk said he would retain control of the software and server departments, key teams that would give him significant control over the social media platform’s operations. It is possible that Musk may reverse his decision to step down, as he has changed his mind about past policy decisions at Twitter, such as the proposed Content Moderation Council, which he ultimately abandoned.
He hasn’t shared much detail about the search for a successor or the qualities being sought in one, but that vagueness hasn’t stopped some candidates from putting their names forward, including rapper Snoop Dogg and YouTube personality Mr. Beast. Nevertheless, a group of viable candidates is likely to emerge in the coming weeks or months. The situation brings formidable challenges. Musk, who acknowledged that he overpaid for the platform over the $44 billion purchase price, said last month that the company was losing $4 million a day.
Because Musk maintains a prominent public profile and ultimate authority as owner, the incoming CEO will need to implement Musk’s vision and reduce the spotlight, said Peter Harms, a professor of management at the University of Alabama who studies corporate leadership. Said. Said. have done, told ABC News. Twitter’s next CEO is likely to come from a circle of people close to Musk, whether inside or outside the company.
Jason Calakanis, a friend and public supporter of Elon Musk, has years of experience in technology and media. A former general manager at Netscape, Calacanis now works as an angel investor with stakes in Robinhood and Uber, among other startup successes. Another friend of Elon Musk, David Sachs, is the co-founder and partner of a venture capital firm called Craft, which claims investments in Lyft, Palantir, Slack and Twitter.
Earlier this month, Calacanis tweeted a poll asking users whether he, Sachs, or a partnership of the two should run Twitter after Musk. The response that received the most support was “other”, which received 39% of the vote. A few other individuals in Elon Musk’s orbit have attracted attention since announcing his resignation: Sriram Krishnan, a former Twitter employee, was brought back in October by Kasturi to help make improvements.
Steve Davis, CEO of another Musk venture called The Boring Company, reportedly slept with his wife and newborn at the Twitter headquarters to help with the acquisition, reported the trade publication The Information. Amid a flurry of half-hearted celebrity requests to lead Twitter, one seasoned candidate has volunteered himself for the position: John Legere, the former CEO of telecom company T-Mobile.
Legere, who led T-Mobile from 2012 to 2020, has been instrumental in rescuing T-Mobile from tough times and helping it grow in the US. November, Legere said, “You can stop managing the daily business, and ‘content moderation’ and then support the product/technology, let someone else run @Twitter.”
He said, I am expensive, but that is all you paid for Twitter. Jeffrey Sonnenfeld, a professor of management at Yale University who organizes gatherings of top CEOs, told ABC News that Legere’s skills match the job, because he knows how to revitalize a well-established company.
Elon Musk’s tenure on Twitter may end after a single Twitter poll. On Sunday, the newly minted Twitter owner and chief executive tweeted a poll asking his more than 100 million followers whether he should step down as CEO.
As the voting period ended, “Yes” won by a notable margin, approximately 58% to 42%. Now, bizarre Twitter posts aren’t exactly out of Musk’s wheelhouse, and neither is messing with his rapidly growing follower base. In fact, less than a day after the vote, Musk pushed a new policy banning “free publicity” from other social media platforms.
However, in a follow-up tweet to the survey, Musk tweeted to indicate that he was very serious about following up on the results. There is no successor. Kasturi attempted to dispel any notion of a replacement, tweeting that the new CEO should take pains to handle a business that has been increasingly bankrupt since May.
Whispers of a new Twitter CEO were already going around long before Elon Musk’s latest poll. Several prominent figures have been candidates for Twitter’s top leadership role, practically the one Musk initially took over. First on the list is venture capitalist Sriram Krishnan. The software engineer was actually a former Twitter executive who left the company in 2021.
Krishnan assured his followers that he still has a place in the crypto space, tweeting, still my day job at @a16zcrypto. Further David O. Sachs, is an entrepreneur and author. Previously the founding chief operating officer of PayPal (NASDAQ: PYPL), another Musk venture, Sachs was also the founder/CEO of Yammer, an enterprise social network for Microsoft Teams, which was acquired by Microsoft (NASDAQ: MSFT) in 2012. it was done. acquired. was done. Bought for $1.2 billion.
Sachs has been associated with Elon Musk for a long time. This is largely through their shared South African background as well as investments in companies such as SpaceX and PayPal. Last on the list is Jason Calakanis.
Referred to in some circles as the “greatest startup investor of all time,” he has long been a mainstay of Silicon Valley, with his roots as an early tech reporter. He is also an accomplished tweeter, with a particular fascination with the Kasturi-era Twitter drama, prompting speculation of a future partnership. As of the date of publication, Shrey Dua did not hold any position (either directly or indirectly) in the securities mentioned in this article.
With degrees in economics and journalism, Shrey Dua leverages his considerable experience in media and reporting to contribute well-informed articles covering everything from financial regulation and the electric vehicle industry to the housing market and monetary policy. We do. We do We do. We love Morning Brew, Real Clear Markets, Downline Podcast, and more.
Elon Musk has confirmed that he will step down as CEO of Twitter as soon as he is “foolish enough to take the job”. It comes after the billionaire asked users of the website to decide their future at the firm, a surprising democratization of decision-making for the company for which he paid $67 billion.
The world’s second richest man confirmed on Twitter at 12.20pm on Wednesday that his future role at the company would be to “run the software and server teams”. On Monday Mr Musk launched a poll on Twitter asking whether he should “step down as head of Twitter”.
He promised he would follow up on the results of this poll”, which ended at 10.19 pm on Monday. Nearly 17.5 million people voted and the final result was 57.5 per cent in favor of Mr Musk stepping down. Took control of the company.
He also wrote: As the saying goes, be careful what you wish for, as you just might get it. There was no information on who would take over the reins if Mr Musk made good on his promise.
Some raised their hands and some jokingly. Popular artificial intelligence researcher and podcast host Lex Friedman offered to temporarily run the website for free. Some of the names reported as potential top job choices are investor Jason Calacanis, Kraft Ventures partner David Sachs and Andreessen Horowitz partner Sriram Krishnan.
Even Jared Kushner, who served as a senior advisor to his father-in-law, former US President Donald Trump, is being mentioned. Just hours before Mr Elon Musk posted his vote, he was seen with Mr Kushner at Qatar’s Lusail Stadium for the World Cup final between France and Argentina.
Mr. Kushner recently received a US$2 billion investment from a fund led by Saudi Crown Prince Mohammed bin Salman. In October it was revealed that Saudi Arabia’s Prince Alwaleed bin Talal and his investment firm were the second largest investors in Twitter. Last month, Twitter founder and Musk’s friend Jack Dorsey said he would not accept the role of CEO of the social network if offered to him.
Mr Dorsey stepped down as CEO of Twitter in November last year and left the board in May. He founded the mobile payments company Block and is also the CEO, but in April it was announced that his title would be called “Block head” and not chief executive officer. He is also the chairman of the charitable Musk Foundation.
Last week, he lost the title of the world’s richest man to French businessman Bernard Arnault. Many Tesla shareholders criticized Mr Musk after the company’s stock plunged 62.55 per cent over the past year. Mr Musk has sold about $34 billion (US$23 billion) of Tesla shares this year despite pledging to stop selling the shares in April – hurting the share price.
Critics say Mr Musk’s Twitter acquisition earlier this year diverted the enigmatic businessman’s attention away from Tesla. He was offered a US$56 billion pay package in 2018 to run Tesla, the largest in US corporate history. On November 18 this year, Tesla shareholders filed a lawsuit to investigate the compensation package.
Mr Musk made major changes when he acquired Twitter, firing key executives and laying off staff. Major advertisers allayed fears that he would relax moderation policies as he insisted on “freedom of expression”. He started the Blue Checkmark subscription service to verify users and generate income for the company.
Mr Musk also shared internal Twitter documents – dubbed the Twitter Files – with independent journalists. Mr Musk was widely criticized after he was abruptly suspended over the weekend by several prominent reporters from CNN, the New York Times, the Washington Post and other news outlets. He was pinged for sharing a link to an account that released publicly available flight information about Mr Musk’s private jet.
Mr Musk’s decision to launch the poll surprised many on social media. The idea that someone decides on a company bought for $44b by running a Twitter poll is astonishing, wrote COTA director Leslie Podesta. Journalist Ben Graffus wrote, “It looks like Tesla shareholders would really like it if you stopped spending all your time alienating rich people who love to buy Tesla.
Original Content @ABC