The tech billionaire and Tesla boss Elon Musk is considering introducing fees for using the short message service after his Twitter takeover. According to Musk, this could affect commercial and government use of Twitter. "Twitter will always be free for casual users, but may cost a little for commercial/government users," he said on Twitter.
Musk recently bought the US short message service for around $44 million. He agreed on a deal with the board of directors. He had previously acquired ten percent of the company. However, he is still dependent on enough shareholders also ceding their shares to him. The takeover is expected to take place by the end of the year.
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Board Chairman Bret Taylor described the deal as "the best way forward for Twitter shareholders". Twitter boss Parag Agrawal underlined the relevance of the company and thanked his employees.
Musk wants to take Twitter private
Currently, Twitter makes its money almost exclusively from advertising, mostly in the form of tweets, which companies can inject into the news stream for money. Musk had already written before the start of his takeover that he found subscription models for services like Twitter better and that the focus was wrong because it gave large corporations too much power.
Musk had announced that Twitter would be delisted following its acquisition. This is the only way the service can fully develop its potential. As the Wall Street Journal reported, Musk gave potential investors the prospect that Twitter could return to the stock market in about three years.
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Twitter itself had often experimented with subscription business models. In the Twitter Blue offer, for example, tweets that have already been written can still be edited 30 seconds after publication. Tweet series are also displayed more legibly and there is the option of organizing saved tweets in folders. The subscription, which is only available in the US, costs $2.99 per month. According to indications, TweetDeck could also become subject to a fee.
Twitter's algorithms should be publicly accessible
Musk had accused the platform of restricting freedom of speech too much. He wants to make Twitter better "than ever before". Musk had announced that this should include new functions. Twitter's algorithms are also to be made publicly available in order to create more trust in the company.
Musk wrote on Twitter that "topics that are fundamental to the future of mankind are being discussed." Critics, on the other hand, fear that Musk's takeover could increase the spread of misinformation and hate messages again.
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