Twitter Is Being Transformed By Elon Musk More And More To Resemble His Rocket Firm SpaceX.
Twitter, which became private after Mr Musk bought it, has been losing money for years. It is still worth far less than the $44 billion Mr Musk spent on it last year.
Mr Musk injects Twitter with a relentless demand on staff, a compensation strategy, and an attitude of moving swiftly even if it means failing. It mimics the method he employed at SpaceX, currently the busiest rocket manufacturer in the world. Linda Yaccarino, a seasoned advertising executive who recently left NBCUniversal, was announced by Mr Musk as Twitter’s new CEO last week. In a tweet, he stated that Ms Yaccarino would essentially be in charge of the company’s commercial operations while he concentrated on product creation and innovative technologies.
That division of labour is similar to the one Mr Musk has formed at SpaceX with Gwynne Shotwell, the company’s longstanding president. Mr Musk is known at SpaceX for focusing on engineering details; during a recent discussion about SpaceX’s maiden test flight of their Starship rocket, he mentioned tank pressures, “thrust-vector control” concerns, and other related topics. This shows his intent towards engineering details.
Mr Musk has often stated that he dislikes the position of CEO and prefers to focus on the technological issues of his many ventures. Ms Shotwell supervises daily operations and customer connections at SpaceX. In 2002, she was one of SpaceX’s original workers. There’s no doubt that Elon is ambitious with his schedules, but that encourages employees to do things better and quicker, Ms Shotwell remarked at a conference in 2018.
All the time and funds in the world will not generate the most incredible answer; therefore, placing pressure on the team to act rapidly is critical. She said that part of her job was to figure out how to transform Mr Musk’s ideals into reality—and attainable corporate goals.
Ms Yaccarino’s background now positions her for a similar post on Twitter. She is a media industry pundit who has supervised about $13 billion in yearly advertising revenue and is well-known for her close working relationships with advertisers and ad agencies.
Ms Yaccarino and Ms Shotwell have a reputation for being stern yet friendly. In contrast, Mr Musk has acquired renown for his occasionally volatile demeanour.
How did Musk’s way of work help SpaceX to survive?
At SpaceX, the work split has helped transform a rocket and satellite firm that almost went bankrupt years ago into one of America’s most valued aerospace companies. SpaceX, located in Hawthorne, California, is privately held and does not disclose financial details, although the firm was recently valued at over $140 billion.
Mr Musk launched SpaceX more than two decades ago, where he established a culture of high expectations for its small workforce from the start. Mr Musk and Ms Shotwell have sought to retain the same focus and discipline as the firm has grown by thousands of people since then.
Mr Musk wrote in an email last year that SpaceX has and will design and manufacture the most fascinating and significant goods of any firm in space when he ordered SpaceX employees to give at least 40 hours a week in offices.
How is Mr Musk transforming Twitter like SpaceX?
Twitter, which became private after Mr Musk bought it, has been losing money for years. It is still worth far less than the $44 billion Mr Musk spent on it last year.
Mr Musk’s emergence as the social-media company’s new owner last year resulted in a cultural clash. Jack Dorsey, Twitter’s co-founder and former CEO, was noted for his laid-back demeanour. Soon after purchasing Twitter, Mr Musk challenged workers to commit to being “extremely hard-core.” Thousands of employees have been sacked or quit since then.
Mr Musk has stated that not everything will function immediately away as he remakes the social-media platform. His attempt to launch a subscription business met with various obstacles.
How does the great Musk work?
Former employees claim that SpaceX has long accepted explosions and other failures as part of creating rockets and spacecraft.
Some features of Musk’s management of Twitter and SpaceX pervade his more enormous economic empire, including Tesla’s decline; red down-pointing triangle. When Tesla was trying to get the Model 3 automobile to market, Musk reportedly slept on the production floor. He did the same after assuming control of Twitter.
Mr Musk has also utilised stock awards to compensate staff, hoping to entice them with the prospect of future riches. SpaceX permits current and former employees to cash out their shares by selling them to outside bidders, with one such liquidity event occurring late last year.
Mr Musk stated in March that employees would get stock awards based on a $20 billion value of the firm but that the company had a route to a $250 billion valuation.
Mr Musk not only runs his businesses in similar ways, but he also conducts business between them.
He sent some Tesla staff to Twitter after purchasing the social-media platform. SpaceX and Tesla have also collaborated on projects. According to sources, Mr Musk is creating a town in Texas for Austin-area employees of his firms, including Tesla, SpaceX, and Boring Co., a tunnelling company.
Conclusion.
There is no doubt that Musk is always known for his out-of-the-box ways of not only thinking but also executing actions. Let’s see what’s written in the fate of Twitter.
Proofread & Published By Naveenika Chauhan
