News: Amid bankruptcy fears, Musk asks Twitter users to decide his fate

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Amid bankruptcy fears, Musk asks Twitter users to decide his fate

“Should I step down as head of Twitter? I will abide by the results of this poll,” Musk said in the tweet.
Amid bankruptcy fears, Musk asks Twitter users to decide his fate

Twitter boss Elon Musk, who bought the most popular microblogging site on October 28, asked the social platform's users to decide his fate through a vote that would determine if he should step down as the head of the entity.  

Musk on Sunday pledged to abide by the results in the latest twist in the tale that has seen some stormy period for the company since his takeover in October.

“Should I step down as head of Twitter? I will abide by the results of this poll,” Musk said in the tweet, posted to his own account. 

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A timeline of Elon Musk's takeover of Twitter

Musk, who has said he intends to make the platform a platform of free speech, appeared to acknowledge some concerns about the recent, abrupt content policy changes. “Going forward, there will be a vote for major policy changes. My apologies. Won’t happen again,” he tweeted shortly before posting the poll about his leadership on Sunday.

He also gave users two options for a response: 'Yes' or 'No. Musk added, “As the saying goes, be careful what you wish, as you might get it.” 

Musk's transition from Tesla chief to Twitter boss has been a stormy one that saw a 'bloodbath' with half of the employees of Twitter being sacked in a quick time.  

Musk acquired the social site after closing a deal valued at $44 billion in October.  His takeover has been marred with controversy with advertisers having paused spending, mass layoffs and resignations, and content-moderation actions that have been abrupt and controversial among many users.

Some of his actions like reinstating Donald Trump’s account and disbanding Twitter’s Trust and Safety Council evoked criticism.  

The past week has been another one full of twists. Twitter suspended the accounts of several journalists, prompting criticism from some lawmakers and officials before Musk said Saturday that Twitter would begin reinstating the accounts. 

Earlier Sunday, Musk said it would no longer allow “free promotion of certain social media platforms.” That also fueled criticism and questions, including from Twitter co-founder and former chief executive Jack Dorsey, who has previously endorsed Musk’s takeover. “Doesn’t make sense,”  Dorsey tweeted on Sunday. 

Meanwhile, Twitter’s financial condition has worsened. Musk said this past month that the company had suffered “a massive drop in revenue” and was losing over $4 million a day. He later raised the possibility of bankruptcy.

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Topics: Leadership, Technology

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