In a surprising turn of events, Elon Musk’s acquisition of Twitter led to significant changes, including the dismissal of then-CEO Parag Agrawal. A recent report from The Wall Street Journal, based on an excerpt from an upcoming biography by writer Walter Isaacson, sheds light on the dinner meeting between Musk and Agrawal in 2022. This meeting ultimately played a pivotal role in Musk’s decision to reshape the social media giant.
1. Musk’s Twitter Takeover
When Elon Musk acquired Twitter in a highly publicized deal in October of the previous year, one of his initial actions was to remove Parag Agrawal from his position as CEO. This marked the beginning of a substantial restructuring process at the company, resulting in the departure of top-level executives and thousands of employees.
2. Dinner with Musk
The Wall Street Journal’s report reveals that Parag Agrawal and Elon Musk dined together in March 2022, before Musk formally expressed interest in buying Twitter. Following their meeting, Musk described Agrawal as a “really nice guy.” However, Musk believed that being liked by people was not a prerequisite for a CEO. Instead, he asserted that Twitter needed a “fire-breathing dragon,” a role he felt Agrawal couldn’t fulfill.
3. Musk’s Growing Influence
It’s worth noting that, around the time of their dinner, news had already broken about Musk’s acquisition of Twitter stocks. By the spring of 2022, Musk had become Twitter’s largest shareholder.
4. Diminished Value
Since Musk’s takeover, Twitter’s market value plummeted by over 50 percent. Despite Musk’s initial $44 billion purchase, the platform’s value had dwindled to $20 billion just five months after the acquisition.
5. Musk’s Vision for Twitter (Now X)
Elon Musk is actively pursuing a complete transformation of Twitter, which he envisions as the “everything app,” now referred to as X. Recent changes include the introduction of audio and video calls, alterations in data collection practices, and updates to political ad policies. Musk has continued to implement a series of reforms behind the scenes.
“Elon Musk’s Dinner with Parag Agrawal: Insights into Twitter’s Transformation”
One of the latest changes Musk announced is the restriction of participation in polls to verified users only. Previously open to all, Twitter polls have been a popular feature for both individuals and companies. However, moving forward, only subscribers to Twitter Blue will have the privilege of participating in polls, a measure Musk stated was taken to prevent poll spamming by bots.
6. The Ongoing Transformation
The evolution of Twitter into X under Elon Musk’s leadership remains a dynamic and evolving process. The platform’s changes are expected to continue, reflecting Musk’s vision for its future.
As Musk continues to steer the platform’s course, the legacy of Parag Agrawal’s brief tenure as CEO serves as a reminder of the transformative nature of Musk’s vision for Twitter and its ongoing journey toward becoming an all-encompassing “everything app.”