Elon Musk buying Twitter was a very, very big deal. And now the man has some very, very big plans for it:
Elon Musk is planning to fire 1,000 staffers at Twitter as soon as his purchase of the social media platform is complete.
It's believed he will fire many of the firm's woke staff following the transfer of ownership which will take around six months, after which Musk is likely to wield the ax.
Musk to Twitter's woke mafia:
Okay okay it's not quite that simple:
[W]ithin the next three years, Musk anticipates making thousands of new hires, swelling the ranks to around 11,000 employees, up from 7,500 currently.
Much of the new talent is likely to be in the field of engineering.
So he's cutting lose the deadweight and adding a bunch of useful workers. That's a great plan. It's hard to believe it took a multibillion-dollar buyout for it to happen.
The tycoon, meanwhile, has some grand aspirations for Twitter's revenue model:
Advertising on the platform is set to fall to 45% of total revenue under Musk, down from about 90% in 2020.
By 2028, he plans for ads to generate $12 billion in revenue in 2028, while subscriptions are expected to pull in another $10 billion, according to the report.
Musk is said to favor a subscription-based model over advertiser funding, as it would make Twitter less beholden to advertiser pressure. He has even suggested users could pay with cryptocurrency, including joke currency Dogecoin which Musk has long had an affection for.
And as far as how many paying subscribers he's hoping to add ... yeah, he's Elon Musk:
Musk anticipates he can increase Twitter's average revenue per user to $30.22 in 2028 from $24.83 last year, it added.
Revenue from Twitter Blue, the company's premium subscription service launched last year, is expected to have 69 million users by 2025.
LOL Elon.
Okay, if we're being honest here...subscription services tend to be, you know, a lot better than the free stuff. Musk gets it. A hard push to bring more subscribers aboard could greatly increase Twitter's user value as well as its monetary value—a win-win for everyone.
Exciting times are ahead. Keep an eye on the interwebs!
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