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Musk Lets Users Decide Fate as CEO

Business

Elon Musk and Twitter logo | Image by Anadolu Agency/Getty Images

Elon Musk is letting users decide his fate as Twitter CEO.

On Sunday, Musk launched a Twitter poll asking his followers whether he should step down as head of Twitter, adding that he would abide by the survey results.

The poll garnered over 17 million votes, with 57.5% of users saying he should step down.

The decision to launch the poll came after Musk acknowledged he made a mistake when he unveiled new restrictions that banned mentions of rival social media websites, according to ABC 8.

Twitter had announced that users would no longer be able to link to Facebook, Instagram, and other platforms the company described as “prohibited.”

Faced with the backlash, Musk apologized, promising not to make any more policy changes without surveying users first.

In its ban, Twitter included seven websites: Facebook and Instagram, and startups Mastodon, Tribal, Nostr, Post, and President Donald Trump’s Truth Social. The company did not explain the ban and did not include TikTok, LinkedIn, or Parler.

Even supporters of Musk were critical of the move. Paul Graham, the founder of Y Combinator, said Musk’s latest actions were “the last straw,” according to The New York Times.

“I give up. You can find a link to my new Mastodon profile on my site,” Graham tweeted before his account was briefly suspended.

In his reversal, Musk clarified the policy and said that Twitter will still suspend accounts whose primary purpose is the promotion of competitors.

Some Wall Street analysts believe Twitter has been a distraction for Musk, who has seen the value of his Tesla shares plummet from $225 when he took over the app to just over $150 per share as of this writing.

The Dallas Express covered Musk’s recent selling spree of Tesla shares last week, in which he reaped more than $3 billion in profit for the sale of approximately 22 million shares.

“Attention focused on Twitter instead of golden child Tesla has been another big issue for investors and likely is behind this poll result with many Musk loyalists wanting him to leave as C.E.O. of Twitter,” argued analysts John Katsingris and Daniel Ives of Wedbush Securities, an LA-based investment firm.

Calling Musk’s possible resignation from Twitter “a major step forward,” they pointed to the “growing frustration around this Twitter nightmare that grows worse by the day.”

Musk has yet to respond to the results of the poll. As potential replacements and rivals line up, he tweeted, “Those who want power are the ones who least deserve it.”

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Senior Pastor
Senior Pastor
1 month ago

Elon Musk is letting users decide his fate as Twitter CEO.
That is just silly. Anything done on computer can be easily manipulated. Thousands of votes can easily be cast by the same group who have enough technical knowledge.

Pap
Pap
Reply to  Senior Pastor
1 month ago

And, of course, all the leftists would vote him out because they don’t believe in freedom of speech, unless it agrees with their insane beliefs.

Keepin it real!
Keepin it real!
Reply to  Pap
1 month ago

Oh, you mean like Musk banning legitimate journalists for asking questions he doesn’t like? Get a brain!

Ronald Reason
Ronald Reason
Reply to  Senior Pastor
1 month ago

Next up: Musk Claims Poll Results Were Stolen

RiverKing
RiverKing
1 month ago

Anyone naive enough to believe that Musk appointing his replacement as CEO would change Twitter’s course will believe anything. Ask yourself: if you had just paid $44B for a company, would you then appoint a CEO who did not agree with your plans for the company?