Jack Dorsey, Twitter’s co-founder, supports Elon Musk’s plans to remodel Twitter, presently known as ‘X’, into a platform aiding unrestricted speech. Dorsey strongly believes that Musk’s leadership is fundamentally crucial for this transformation.
Dorsey identified the major flaw in Twitter’s earlier business model, being largely dependent on brand-advertising revenue. He argued this made the platform susceptible to manipulation, as any brands unhappy with the content could exert control over the platform by withholding ad funding. To protect users’ freedom of expression and to ensure the platform’s independence, Dorsey suggested a diversified revenue stream.
His innovative solution was a plug-and-play marketplace model. This would allow content creators to monetize their work directly, thereby avoiding advertising influence.
Musk and Dorsey’s transformative plans for Twitter
Dorsey also aimed to evolve the platform’s community standard enforcement process to prevent manipulation and the spread of harmful content.
In response to Musk’s support for a contentious post, leading corporations like Disney, IBM, and Apple, severed their connections with Twitter, significantly withdrawing ad funding. However, Musk and Dorsey remained unbending in upholding freedom of speech and shifting the company’s focus from advertisers to users.
Musk’s future targets include moving ‘X’ away from dependence on ad revenue towards commerce and subscription services. This includes blue-check verification for paying users and advocating monthly memberships. While this major strategic shift led to considerable job cuts – an aspect of ‘X’s transformation Dorsey finds necessary albeit somber – it was met with mixed feelings, being seen as a tough yet essential decision for the company’s future growth and market position.
After leaving Twitter, Dorsey has shared his plans for a novel platform. He encouraged users to switch to ‘X’ and remains supportive of Musk despite criticisms.
Having purchased Twitter for $44 billion in October 2022, Musk enacted significant changes within a mere half year. By introducing user-focused features and promoting freedom of speech, Musk’s bold and impactful decisions have already begun to revolutionize the social media landscape.
