During a question-and-answer session for the platform’s advertisers, the billionaire gave some major avenues for development for the platform he has just bought at great expense.
Reassure, reassure, reassure. 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, since advertising currently represents the overwhelming majority of its income.
Read also : Elon Musk wreaks havoc on Twitter, live news
On the occasion of a Twitter Spaces, Musk and his collaborators therefore held a conference for the world of advertising. The purpose of this question-and-answer session: to comfort and show that Twitter was not going to become a den of users with hate speech. With a strong message, hammered home from the start 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 the service that [les annonceurs] have always loved. »
HAPPENING NOW: Elon Musk is hosting a Twitter Space on “Advertising and the Future” after many companies stopped advertising on the platform as a part of our #StopToxicTwitter campaign.https://t.co/AIDTddEWM3
— Accountable Tech (@accountabletech) November 9, 2022
But the interest of the conference was 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 speech of appeasement, which contrasted sharply with his recent thunderous outings.
Musk first recalled, almost utopian, that he wanted to make Twitter ” a force for the good of civilization”. “Can we get 80% of humanity together on Twitter to have a positive discussion? Can we exchange words instead of violence? » he said in his constantly hesitant voice.
Strong pressure for the paid version
“We want to be in the truth business, and that’s why we need to get as many people as possible to verified status” he continued, to justify his certification offer at 8 dollars per month, which has just been launched in a few countries. “There are hundreds of millions of fake accounts created on Twitter each 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 of 1,000 or 10,000”.
That, he had 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-rate content: “When you look at your mentions, you will see verified users by default. You will still be able to view the uncertified ones, much like when you look at that horrible spam folder on Gmail. » As a reminder, Musk would even think about a 100% paid Twitter.
A big leap forward on video
The billionaire concedes: Twitter has been “ historically low in terms of video. And he intends to change that quickly, which requires above all a huge construction site on the infrastructure of the site, according to him.
We guess, listening to him, that he wants to compete tomorrow with platforms like Instagram, TikTok or YouTube. And that after the technical project, there will be that of the monetization of the content of video creators, which he wishes to be particularly attractive: ” if we provide them with something to post their content on our platform and monetize it to a level that is at least equivalent to that of our competitors, why wouldn’t they publish their content on Twitter? “.
Twitter soon competitor of Paypal?
Payments: this is another major area of development for Musk, who intends to take advantage of the paid verification process – and therefore of the credit card number of Twitter Blue users – for other uses. A subject he knows by heart: in 1999, Musk founded X.com, an online bank now known as… Paypal.
It initially envisions a wallet and money transfers between site users. ” Maybe each user will be offered $10 to spend on Twitter he says. This wallet could 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, in order 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 must be as useful and fun as possible: if so, as many people as possible will use it” summarized Musk. Which also recalls: if things go wrong, it will be my fault. […] If I make decisions that people don’t like, users will leave, and we will fail. » It gets better by saying it.