31 Oct 2022

Musk Twitter takeover continues

From Morning Report, 6:51 am on 31 October 2022

Elon Musk's Twitter takeover has continued in a spectacularly chaotic fashion. Twitter announced on Saturday the deal had been closed on Friday - and one of Musk's first acts was to boot three top leadership figures at the company.

Each received a payout of tens of millions. It's just the beginning of the Musk regime - he has reportedly said he will cut 75 percent of jobs at Twitter, a claim Musk denies.

He also styles himself as a "free speech absolutist," but also tweeted on Friday that Twitter will form a "content moderation council with widely diverse viewpoints," and that no major decisions on moderation or account reinstatements will be made before it convenes.

LA Based investment bank Wedbush senior equity analyst Daniel Ives spoke to Mani Dunlop.