Twitter’s new anti-woke boss is planning to clean house at the social media company by eliminating censorious bureaucracy and hiring new engineers.
Tesla CEO Musk has raised significant funds from many high-profile investors to complete his purchase of Twitter and solidify his takeover bid.
Musk got Jack Dorsey, a Saudi prince, and other large shareholders to stay with the company while raising billions from other investors.
The New York Times obtained a leaked copy of his “pitch deck” that lays out his plans to make heads roll at the social media giant once he takes control.
Musk plans to focus on engineering and cut the bloated bureaucracy that feeds the woke agenda at the tech company.
He is planning to fire up to 1000 of the current staff at Twitter as soon as his purchase of the social media platform is complete.
But after streamlining the company Musk anticipates hiring thousands more in key engineering roles increasing the headcount to 11,000 employees up from 7,500 currently as the company expands.
He is also hoping to slash Twitter’s reliance on advertisement and boost other sources of revenue.
By 2028, Musk believes ad revenue will generate $12 billion for Twitter while subscriptions will bring in another $10 billion.
• Hire 3,600 employees (after shedding hundreds)
• Raise free cash flow to $9.4 billion
• Twitter will add about $13B of debt as part of Elon's buyout plan. But he expects to pay that debt down as free cash flow is set to grow to $3.2 billion in 2025 and $9.4 billion in 2028.— Sawyer Merritt (@SawyerMerritt) May 6, 2022
• Reach 931M users by 2028 (from 217M now)
• 158M users of Twitter Blue by 2028
• Have 104M subscribers for a mysterious X by 2028. Included in the doc are estimates for what appear to be subscribers to a new product called X, which would have 104M users in 2028.— Sawyer Merritt (@SawyerMerritt) May 6, 2022
— Sawyer Merritt (@SawyerMerritt) May 7, 2022
Ben Horowitz, a top silicon valley venture capitalist, said:
“We invested because we believe in Ev and Jack’s vision to connect the world and we believe in Elon’s brilliance to finally make it what it was meant to be.
“While Twitter has great promise as a public square, it suffers from a myriad of difficult issues ranging from bots to abuse to censorship.
“Being a public company solely reliant on an advertising business model exacerbates all of these.
“Elon is the one person we know and perhaps the only person in the world who has the courage, brilliance, and skills to fix all of these and build the public square that we all hoped for and deserve.”
