Elon Musk’s blue-check saga marks the beginning of the end for Twitter, top Tesla investor says:- Ross Gerber, a top Tesla and Twitter investor, and CEO of Gerber Kawasaki Wealth and Investment Management, has said that the recent turmoil at Twitter could be the beginning of the end for the company.
Gerber believes that Elon Musk’s decision to start giving out free Blue check marks to some users has exposed Twitter CEO Jack Dorsey’s hypocrisy, given his plans to replace the legacy verification system with a subscription service.
While Twitter Blue costs $8 a month, many celebrities and news organizations have refused to pay, and the controversy surrounding the verification process shows no signs of abating.
Gerber’s comments suggest that investors are closely watching Twitter’s handling of this issue and may be concerned about the company’s future if it fails to address the criticism it has received.
The controversy started when Elon Musk announced his plan to abolish the “lords and peasants system” of Twitter verification, which he characterized as a system that favored famous people over others.
However, when Musk started handing out blue checks to certain users, including those with at least one million followers, he was accused of hypocrisy and creating another class system.
Gerber argues that Musk’s actions have exposed Twitter’s confusion and created further problems for the company. In particular, Gerber points to the confusion over the blue checks being returned to accounts belonging to dead users as evidence of the company’s lack of direction.
Gerber has been a vocal critic of Musk’s leadership at Twitter, suggesting that the billionaire’s focus on the platform has been a distraction from his leadership at Tesla.
Indeed, Tesla’s recent earnings report suggests that Musk is now looking to aggressively pursue market share, which could come at the expense of short-term profits.
Overall, Twitter’s handling of the verification controversy has led to criticism from investors and users alike. The company’s attempts to create a more egalitarian verification system have been overshadowed by accusations of hypocrisy and confusion, and it remains to be seen how the company will address these issues in the future.
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