CEO Prag Agarwal Archives - Lokmarg

Musk Threatens To Name Shame, Backing Out Advertisers

By LokMarg 5th November 2022

Tesla CEO Elon Musk threatened to name-shame the advertisers who are backing out from Twitter after the micro-blogging site announced mass layoffs.

While replying to a user on Twitter, Elon Musk said, “Thank you. A thermonuclear name & shame is exactly what will happen if this continues.”
Mike Davis, a user on Twitter said, “Dear @elonmusk: You have nearly 114,000,000 Twitter followers. Name and shame the advertisers who are succumbing to the advertiser boycotts. So we can counter-boycott them. And get your USD 8 monthly subscription going asap. So we can start to make up for lost revenue now.”

In a series of tweets, Tesla CEO has blamed “activist groups pressuring advertisers” for a “massive drop in revenue” as the company engages in mass layoffs.

“Twitter had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists. Extremely messed up! They’re trying to destroy free speech in America,” he further tweeted.

To defend his decision over the mass layoff, Elon Musk said that Twitter was losing more than USD 4 million per day and that impacted the employees who were given severance packages.

Taking to Twitter, Elon Musk said, “Regarding Twitter’s reduction in force, unfortunately, there is no choice when the company is losing over USD 4M/day. Everyone exited was offered 3 months of severance, which is 50% more than legally required.”

On Friday, as per an unsigned internal memo seen by The Verge, Twitter employees were notified in an email that the layoffs were set to begin. Musk is expected to cut roughly half of Twitter’s roughly 7,500-person workforce.

The entrepreneur’s purchase of Twitter for USD 44 billion was completed last week and on that same day, he fired several of the company’s top leaders, including the chief executive Parag Agrawal.

Musk had already indicated that he would make job cuts at Twitter, telling employees at a town-hall meeting this summer that there needs to be “a rationalization of headcount” at the social network. (ANI)

Feedback Appreciated, Now Pay: Musk’s Reply To US Politician Over Blue Tick

By LokMarg 3rd November 2022

Twitter’s new owner Elon Musk never leaves a chance to give a befitting reply to his critics.

As he is currently facing backlash over his decision to charge Twitter users USD 8 per month to get a verified account, the Tesla CEO is making sure to reply to his trollers and critic with an epic response.
US politician Alexandria Ocasio-Cortez recently took a dig at Elon Musk over the blue tick fee.

In her tweet, Alexandria Ocasio-Cortez wrote, “Lmao at a billionaire earnestly trying to sell people on the idea that ‘free speech is actually a USD 8/mo subscription plan.”

Replying to Alexandria, Elon reiterated his stance on the blue tick fee and quipped, “Your feedback is appreciated, now pay USD 8.”

Musk’s response left many netizens in splits.

“Savage,” a social media user commented.

“Oh My God! Musk is epic,” another one wrote.

In April, Twitter accepted Musk’s proposal to buy and make the social media service private. However, Musk soon began sowing doubt about his intentions to follow through with the agreement, alleging that the company failed to adequately disclose the number of spam and fake accounts on the service.

In July, in a surprising turn of events, Musk who had long been showing his interest to buy Twitter terminated the deal. The Tesla CEO did so by alleging that Twitter violated their mutual purchase agreement by misrepresenting the number of spam and fake bot accounts on its platform.

After Musk put out the deal termination announcement, the market saw a sharp decline. Later, Twitter sued Musk accusing him of using bots as a pretext to exit a deal. Again, last week, Musk confirmed that he would move forward with the Twitter buyout at the originally agreed price of USD 54.20 per share. (ANI)

Trump: Very Happy About Musk’s Twitter Takeover

By LokMarg 29th October 2022

Former US President Donald Trump lauded Twitter’s new ownership under billionaire Elon Musk on Friday.

“I am very happy that Twitter is now in sane hands, and will no longer be run by Radical Left Lunatics and Maniacs that truly hate our country,” Trump said in a Truth Social post following Elon Musk’s completed takeover.
On Thursday night, Musk fired a number of Twitter executives including CEO Parag Agrawal and Vijaya Gadde, Twitter’s longtime head of legal, policy, and trust, who was in charge of significant account decisions, including suspending Trump.

The former president said Twitter “must now work hard to rid itself of all of the bots and fake accounts that have hurt it so badly. It will be much smaller, but better.”

Elon Musk said that the social media company “will be forming a content moderation council with widely diverse viewpoints.” That means suspended accounts like those held by former President Donald Trump won’t immediately return to Twitter.

“No major content decisions or account reinstatements will happen before that council convenes,” Musk added.

On Thursday, Musk wrote in a posted note to Twitter advertisers that “Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences! In addition to adhering to the laws of the land, our platform must be warm and welcoming to all.”

Hours after news of Musk’s takeover broke, a fake statement from Trump began circulating online.

“Congratulations to Elon Musk on his purchase of Twitter. Many people are saying that change was needed, as the old management was too concerned with the woke agenda,” the fabricated statement read.

“I have been told that my account will be back up and running on Monday — we will see. Happy to be able to engage with an African-American-owned business!”

In July, in a surprising turn of events, Elon Musk who had long been showing his interest to buy Twitter terminated the deal. The Tesla CEO did so by alleging that Twitter violated their mutual purchase agreement by misrepresenting the number of spam and fake bot accounts on its platform.

After Musk put out the deal termination announcement, the market saw a sharp decline. Later, Twitter sued Musk accusing him of using bots as a pretext to exit a deal. (ANI)