In a question-and-answer session for the platform’s advertisers, the billionaire gave some key takeaways for development for the platform he just bought at a huge expense.
Secure, secure, secure. Elon Musk fears that the new rules he is applying to Twitter will scare away advertisers. However, they are essential to the survival of the service, as advertising currently represents the bulk of its revenue.
Also read: Elon Musk wreaks havoc on Twitter, live news
On the occasion of a Twitter Spaces, Musk and his collaborators held a conference for the world of advertising. The purpose of this question-and-answer session: to entertain and show that Twitter will not be a den of hateful users. With a strong message, hammered home from the beginning by Robin Wheeler, who heads the site’s sales department: no, the moderation rules have not changed and the sales teams are “Always there, to deliver that service [les annonceurs] always loving. »
HAPPENING NOW: Elon Musk hosts Twitter Space on “Advertising and the Future” after many companies stopped advertising on the platform as part of our #StopToxicTwitter campaign.https://t.co/AIDTddEWM3
— Accountable Tech (@accountabletech) November 9, 2022
But the interest of the conference lies elsewhere. Because Musk was able to go back in detail on what he intends to do in the longer term with the social network. A kind of calming speech, in stark contrast to his recent thunderous outings.
Musk first remembered, almost utopian, that he wanted to create Twitter ” a force for the good of civilization”. “Can we bring 80% of humanity together on Twitter to have a positive discussion? Can we exchange words instead of violence? » he said in his continued hesitant voice.
Strong pressure for paid version
“We want to be in the business of truth, and that’s why we need to get as many people as possible to verify the status” he continues, to justify his certification offer at 8 dollars per month, which has just been launched in some countries. “There are hundreds of millions of fake accounts created on Twitter every year, and not all of them are blocked. By charging 8 dollars per month, we increase the cost of a bot or a troll by a factor which is 1,000 or 10,000”.
That, he already said. But you really have to expect some serious pressure to checkout and get “verified” status. Because Musk reminds us: certified accounts will be widely promoted in the future. He did not hesitate to compare the messages of free users to second-class content: “When you look at your mentions, you’ll see verified users by default. You’ll still be able to view the uncertified ones, just like when you view that dreaded spam folder in Gmail. » As a reminder, Musk will even think about a 100% paid Twitter.
A big step forward in video
Billionaire admits: Twitter has become “ weak in history in terms of video. And he intends to change that quickly, which largely requires a large construction site on the site’s infrastructure, he says.
We guess, listening to him, that he wants to compete tomorrow on platforms like Instagram, TikTok or YouTube. And after the technical project, there will be monetization of the content of video creators, which he wants to be particularly attractive: ” if we give them something to post their content on our platform and monetize it at a level at least equal to that of our competitors, why wouldn’t they publish their content on Twitter? “.
Twitter soon competitor to Paypal?
Payments: this is another key area of development for Musk, who wants to take advantage of the paid verification process – and therefore the credit card number of Twitter Blue users – for other use. A subject he knows by heart: in 1999, Musk founded X.com, an online bank now known as… Paypal.
At first it envisions a wallet and money transfer between site users. ” Perhaps each user will be given $10 to spend on Twitter he says. This wallet can also be attached to a bank account, to transfer funds.
And that’s just the beginning: Musk hopes to offer high-yield savings accounts on his platform in a second phase, to encourage users to use it as a bank account. A big step towards its “super application” project, inspired by the success of the Chinese app WeChat.
“The system should be as useful and fun as possible: then, as many people as possible will use it” summarized Musk. Also remember: if it goes wrong, it’s my fault. […] If I make decisions that people don’t like, users will leave, and we’ll fail. » It gets better by saying it.