Yahoo Finance Elon Musk hints at major update to Twitter
Elon Musk has hinted that he plans a major update to Twitter if his deal to buy the platform goes ahead.
The tech billionaire has until 9pm UK time on Friday to close the $44 billion acquisition or else face a trial in November.
He has previously shared his intention to follow through with the deal, as well as ideas on how he might change Twitter once he is in charge.
The latest indication of what he plans to do with Twitter involves an integrated video feature that would compete with YouTube and generate additional revenue for the app.
Responding to a Twitter thread about how this might be implemented, Mr Musk posted a winking face emoji.
The thread stated: “Once @elonmusk takes over, I wonder if @TwitterSpaces platform can evolve towards video and compete with @YouTube for content creation...
“It is insane that Twitter has not currently implemented a YouTube clone. Half my tweets are links to YouTube videos. Twitter does not capture any value here. If users could watch monetised videos on Twitter, Twitter would capture ad revs and massively increase [revenues].”
It remains unclear whether Mr Musk will proceed with the buyout, having previously cited concerns about the prevelance of bots on Twitter.
Employees’ stock accounts have reportedly been frozen in anticipation of the deal going ahead before Friday, while lawyers on both sides are working to close the deal, according to Bloomberg.
The Washington Post also reported that Mr Musk told potential investors that he plans to cull roughly 75 per cent of Twitter’s staff if he takes over.
Twitter’s General Counsel Sean Edgett said in a memo to staff following the report that the firm did “not have any confirmation of the buyer’s plans following close and recommend not following rumors or leaked documents but rather wait for facts from us and the buyer directly”.
The Independent has reached out to Twitter, though the platform typically does not comment on released features or ongoing legal disputes.
