Elon Musk's interview with BBC: Twitter CEO talks about job cuts, misinformation, and staying overnight in the office.
Take a quick look at Elon Musk's surprising interview with BBC... in just 90 seconds.
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Elon Musk has recently done a live interview with the BBC and expressed that managing Twitter has been a challenging experience, referring to it as both "quite painful" and "a rollercoaster".
The immensely wealthy business magnate additionally declared that he would be willing to part with his company in case the perfect individual emerges.
In October, Mr. Musk purchased Twitter for a whopping $44 billion (£35.4 billion) and he is also the head of Tesla, a car manufacturer, and SpaceX, a rocket company.
During the interview at the company's main office in San Francisco, they talked about the large-scale job cuts, inaccurate information, and the way he works.
He acknowledged that his acquisition was only executed because a judge was on the verge of compelling him to complete the transaction.
He has stated that Twitter will modify the label for the BBC's account which was recently added as "government funded media" to reflect that it is "publicly funded" instead.
While conversing, Mr. Musk made an effort to interview as much as he was being interviewed and stood up for his leadership of the company.
When questioned if he had any feelings of remorse in regards to his purchase of Twitter, the individual who currently holds the position of the second wealthiest person on the planet replied by expressing that the degree of discomfort and distress experienced throughout the course of owning the social media platform has been intense, and that it has not been a joyous or celebratory endeavor.
Discussing his experience leading so far, Mr. Musk stated, "It has not been dull. It has been a rather unpredictable journey."
He stated that the past few months have been quite stressful. Nevertheless, he still believes that acquiring the company was the appropriate decision.
At the beginning of 2022, Mr Musk acquired a significant interest in Twitter and proposed a buyout bid. However, when he attempted to withdraw from the agreement, Twitter took legal action against him.
Mr. Musk informed the BBC that things are progressing fairly well. According to him, the site's usage has increased, and the site is fully functional.
He said that the amount of work he has to do is so much that he occasionally ends up sleeping in his office. Furthermore, he disclosed that he has discovered an unnoticed couch in a library where he can lay down when he needs to rest.
He also spoke about his tweets which are sometimes considered controversial and stated: "Have I harmed myself by posting tweets that were deemed inappropriate on multiple occasions? Indeed."
"I believe it would be better for me to refrain from using Twitter past 3am," he stated.
When questioned about the choice to include a tag on the primary Twitter account of BBC that states "media funded by government", Mr. Musk revealed: "I am aware that the BBC is not pleased with being recognized as a media source influenced by the government."
At the beginning of this week, the company got in touch with the large social media platform regarding the label on the @BBC profile in order to fix the problem "as quickly as possible".
The BBC has always maintained its independence, and it is not influenced by any external factors. The license fee paid by the British public is the funding source for us.
According to Mr. Musk, Twitter was modifying the label assigned to the BBC and updating it to "publicly-funded". Although the alteration was made after several hours, the new label still directed users to a webpage containing data regarding government and state-associated media.
He mentioned that they're making efforts to be precise.
He mentioned that he has great admiration for the BBC. He said that the interview was a valuable chance to ask questions and obtain insights into areas where they can improve.
The national broadcaster of the UK is the BBC, which functions based on a Royal Charter that has been approved by the government. The revenue of the organization comes from a licence fee paid by households in the UK, making up £3.8bn ($4.7bn) in 2022, which constitutes about 71% of the total income of £5.3bn received by the organization.
The remaining finances are obtained through various means such as commercial pursuits, grants, royalties, and rentals. The BBC also receives over £90 million annually from the government to back the BBC World Service, which mainly caters to audiences outside of the UK.
Talking about the financial situation of Twitter, Mr. Musk mentioned that the company is now making almost the same amount of money as it's spending. This is because many of its advertisers have decided to come back.
Furthermore, he mentioned that reducing the employee count from approximately 8,000 at the moment he acquired the company to only 1,500 was a challenging task.
He confessed that he did not personally fire each person, explaining that it would be impractical to communicate with such a large group in person.
A lot of Twitter engineers have resigned following Mr. Musk's acquisition of the company, causing worries about the platform's durability.
He admitted that there were some problems, such as downtime on the website, but assured that these interruptions were brief and the site was now operating properly.
Regarding the purchase of Twitter, the experience has been far from dull. In fact, it has been quite the emotional ride, similar to a rollercoaster. The situation has been quite anxiety-inducing.
Regarding staff layoffs, "I wouldn't use the term heartless... If the entire business fails, then no one will have employment."
Regarding profits, we may have a cash flow positive quarter if things continue on their current trajectory. It seems that the majority of advertisers have returned or expressed their intention to return.
Regarding his disputed tweets, he said, "Have I made mistakes with my tweets on more than one occasion? Definitely."
Regarding calling the BBC "Government-funded media": "We're changing the term to... publicly funded... It should be acceptable if we use the same language that the BBC employs to portray itself."
During the interview that was streamed live on Twitter Spaces, Mr. Musk was questioned about the spread of false information and discriminatory language on the platform.
He asserted that Twitter has experienced a decline in false information following the acquisition, and that his endeavors to remove automated accounts (bots) will diminish the spread of fabrications.
However, numerous specialists disagree on this matter. A particular investigation - and numerous others with comparable findings - noted that followers' interaction with social media accounts that spread misinformation and false information significantly increased following Mr. Musk's acquisition.
He asked many times if journalists are impartial truth judges and mentioned that he had more confidence in "regular individuals".
Regarding the matter of confirmed blue ticks denoting legacy on the platform, Mr. Musk declared that they would be eliminated from accounts before the upcoming week comes to a close.
Bruce Daisley, an ex-executive from Twitter who managed the company in Europe, the Middle East, and Africa for eight years, stated that the interview "provided us with some knowledge about the bizarre lifestyle of this billionaire."
Today he finally revealed that the sole motive behind his Twitter purchase was the assumption that a judge would compel him to complete the deal. This was the first time he openly acknowledged this, thus making the interview quite interesting.
According to Mr Daisley, the interview demonstrated that Mr Musk's statements are not always coherent.
According to the Forbes list of billionaires, Elon Musk is considered the world's second richest individual with a personal fortune estimated at nearly $190 billion.
