Elon Musk resigns as “head of Twit” or not?
That is the question that remains to be answered this Monday evening, more than 12 hours after a counter-scientific study. poll posted by Twitter CEO led to 57.5% of participants voting that he should step down as head of the beleaguered social media company.
The move comes after much criticism of his tumultuous leadership at Twitter, including recent decisions to suspend journalists and introduce (and subsequently remove) a controversial policy. controversially bans the practice of linking to rival platforms; lay off half of the company’s employees; dismiss those who disagree with him; and welcome back to the platform that previously banned figures from selling misinformation, conspiracy theories and hate speech.
A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for daily notifications documenting the evolving media landscape here.
Given Musk’s trend of tweets and his quick decisions after previous polls, many assume he will now address the elephant in the room. But he is not. In fact, Musk spent most of Monday being conspicuously quiet, limiting tweets to a notable 18-hour period.
While Musk churned out some tweets on Monday night, posting stats on Twitter usage during the epic World Cup final and retweeting his Tesla posts
(TSLA) and SpaceX companies, it remains unclear whether he actually resigned on Twitter after vowing to “comply” with the poll’s results. By his own admission, there is no one willing to run this dangerous platform. In a tweet Sunday night, Musk wrote, “No one wants the job that can really keep Twitter alive. There is no successor.”
Some Tesla investors, who are increasingly vocal, are hoping someone else can take the helm of the social network. Last month, Musk said he would “find someone else to run Twitter” and that he expected to “reduce” his time there. And while there is a nameservers being floated, CNBC last week’s report that Tesla stock has dropped 28% since Musk took over Twitter.
The electric car maker took on more bad news related to Musk’s Twitter obsession on Monday. Oppenheimer & Co. downgraded Tesla’s rating, with analyst Colin Rusch writing, “We believe Mr. Musk is increasingly isolated as Twitter’s financial manager with managing his users on the platform. We see the potential for a negative feedback loop from the departure of advertisers and Twitter users.”
Rusch added that Musk’s conduct over the past few months as a “Twit chief” has generated “public backlash against the brand” that could tarnish Tesla’s brand image — particularly. especially with important consumer groups.
“We believe that it is too much to ban journalists without consistent standards of protection or clear communications in an environment where many believe freedom of expression is at risk. Some consumers continue to support Mr. Musk/TSLA, especially those whose ideology is aligned with climate change mitigation, Rusch wrote.
And while Musk is currently in the uncomfortable position of having to hand over day-to-day control of the company he just bought for $44 billion, that may please some of his supporters. , who wanted him to go back to work at Tesla and quit. distractions.
As the saying goes, Vox populi, Vox dei.