Elon Musk showed up 10 minutes late to his first meeting addressing Twitter employees, which is still ongoing. He dialed in from his phone handheld like this
When asked why he loves Twitter, Elon says: "Some people use their hair to express themselves. I use Twitter"
People should be allowed to "say pretty outrageous things within the law," but it shouldn't be amplified. Repeats the mantra that freedom of speech isn’t the same as freedom of reach.
Elon says that if the company wants more people to use Twitter, they should mimic the approach of the super app WeChat in China. “you basically live on WeChat in China….if we can recreate that with Twitter we’ll be a great success”
Other Twitter product ideas Elon is into: have people pay to be verified and subscriptions/payments. Seems very into the WeChat approach
Question about layoffs: “Right now costs exceed revenue. That’s not a great situation.”
On working remote: “If someone can only work remotely and they’re exceptional, it wouldn’t make sense to fire them.” But strong bias to working IRL”
Here’s our quick stories on what Elon told Twitter employees today on cost cutting / working remote:
(Meeting ended, but threading over relevant tidbits here. Reminder that this meeting wasn’t public - this is based on what people who listened tell me)
Musk spent a lot of time talking about Twitter’s bots/spam problem, says it should financially hard to operate a bot farm
Asked about his political views, Musk says he likes moderates and voted for Flores — his first Republican vote. Largely repeats past comments that Twitter should moderate based on what is illegal but not really past that
He suggests adding an “irony” label you could tweet with so people know that you’re trying to be ironic, which, lol
He sort of demurs when asked about CEO plans once he takes over. (Reporting so far has said he’ll hand off that role eventually)
Says he is not really into titles, talks about being “Technoking.” He clearly wants to focus on the product
Here is our story on Musk’s comments about speech and content moderation from today’s Twitter all hands theverge.com/2022/6/16/2317…
Here’s my writeup of the ideas for fixing Twitter Musk shared with employees today. He essentially wants this app to be more like WeChat and TikTok. theverge.com/2022/6/16/2317…
Where should Twitter be in 5-10 years? “Contributing to a stronger longer lasting civilization where we are better able to understand the nature of reality,” per Musk
Am told that towards the end of the call, Musk switched the topic to space, the age of the earth, and potential dead civilizations on other planets, saying he has seen “no actual evidence for aliens, yet”
Very normal all hands
Lol some Twitter staffers wanted to ask Elon about a promise the company made in Jan to take everyone to Disneyland this year (employees were specifically instructed to not tweet about it, has become a bit of a meme internally). But execs recently said the trip won’t be happening
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Notes from Twitter all hands meeting:
- Seems clear who will be CEO after deal closes hasn’t been decided. But board chair @btaylor did confirm the board would cease to exist once the deal closes in roughly six months.
- CEO @paraga: No plans for layoffs… “at this time”
- Employee RSUs will continue to vest as normal until the deal closes, and upon close they will be converted to cash grants on the same vesting schedule
- @paraga will stay CEO until the close but didn’t address what happens after. Said the plan is to bring Elon in for Q&A
- On Trump coming back to Twitter: “Once the deal closes we don’t know which direction the platform will go,” says Parag. It’s a question we should address with Elon.
- Parag on Elon: “He wants Twitter to be a powerful force in the world, just like all of us”
Mark Zuckerberg is addressing Meta employees at a virtual all hands right now. He’s explaining the company’s updated values, which are:
- “move fast” is becoming “move fast together”
- "be bold" replaced with "build awesome things"
- “focus on long term impact” is a new one
- “be open” is becoming “live in the future”
- “be direct and respect your colleagues” is a change to “be open”
- Zuck says employees are not supposed to “nice ourselves to death”
- last value, and I am not making this up: “Meta, metamates, me”
A slide shows this text in bold all caps next to Zuck talking
I am told Zuck said this without laughing and explained it had to do with a story about ships and shipmates
Confirmed that last quarter was the first-ever sequential decline in global Facebook daily users.
It is loosing relevance with teens and spending $$$ on metaverse stuff that won’t pay off for awhile theverge.com/2022/2/2/22914…
Meta’s biggest problems in the real world:
- Apple/regulatory ad nuking its tracking and rev growth (going to take years to rebuild)
- Young people using TikTok, iMessage etc instead. Will Reels work and make $? TBD.
- Overall user growth looks tapped out
Meanwhile, Meta lost $10.2b billion last year on AR/VR. Reported $2.3 billion in rev for the year there (mostly Quest/cut of VR app sales). Zuck said he intends to increase spend. VR appears to be hitting mainstream but still too early to tell. They haven’t broken out Quest sales
Breaking: Facebook plans to stop shielding politicians from the content rules it applies to everyone else, a sharp reversal from its position that all speech from elected officials is inherently newsworthy.
Other changes Facebook plans to announce as soon as tomorrow:
- Will disclose its secretive strikes system for policy violations to users for the first time
- Will also begin disclosing when it uses a special newsworthiness exemption in transparency reports
Facebook is making these changes after the widely-panned Oversight Board it set up recommended it do so. Highly recommend reading this and then what FB is doing to address: oversightboard.com/news/226612455…
How Facebook resisted an internal push to throttle posts by politicians and public figures that violate its rules:
- Civic Integrity group asked to curb engagement/sharing
- Execs pushed back due to censorship fears
- Result is election labels we see now
The labels we all see on FB and IG are certainly prevalent during this election period, but Facebook applies them equally across the board on anything election related. BuzzFeed reporting today that FB knows the labels aren’t that effective buzzfeednews.com/article/craigs…
With few exceptions, FB doesn’t touch posts by politicians since it deems them newsworthy.
After Trump’s “looting starts/shooting starts”post in May, FB staffers overseeing its role in elections proposed significantly hampering the ability for such posts to spread in the future