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Twitter Announces Major Staffing Changes as Musk Deal Continues to Take Shape

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Twitter Announces Major Staffing Changes as Musk Deal Continues to Take Shape

The changes keep coming at Twitter HQ.

Today, Twitter CEO (for now) Parag Agrawal has announced that key leaders Kayvon Beykpour and revenue products chief Bruce Falck will be leaving the company effective immediately.

Beykpour is the more publicly visible of the two. Originally coming across as part of Twitter’s acquisition of Periscope in 2015, Beykpour has often represented the company in public forums and appearances, while he’s also been a key driver of several strategic product shifts. Falck meanwhile has been the driving force behind many of Twitter’s ad products and tools, and both represent significant losses for the platform.

How that impacts Twitter overall is impossible to measure, but with the added loss of Jack Dorsey, along with several other long-term key voices, it’s definitely a time of significant, arguably fundamental change at the platform – and that’s before we see the impact of Musk stepping in.

Agrawal, who himself will soon be replaced by Elon as part of Musk’s Twitter takeover deal, announced the decisions via an all-staff email, in which he also outlined a hiring freeze and various other cost-cutting measures.

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As per Agrawal:

At the beginning of the pandemic in 2020, the decision was made to invest aggressively to deliver big growth in audience and revenue, and as a company we did not hit intermediate milestones that enable confidence in these goals. More recently, the global macroeconomic environment has become less favorable, the war in Ukraine has impacted our results, and may continue to do so […] In order to responsibly manage the organization as we sharpen our roadmaps and our work, we need to continue to be intentional about our teams, hiring and costs.

So while Agrawal is likely on the way out too, he’s still dedicated to reducing costs ahead of the pending takeover – though some have questioned why Agrawal felt the need to take out these key leaders now, given that he too will soon be moving on from the company.

Probably.

There are still some questions as to whether the Musk deal will ultimately go through, with some reports suggesting that Musk’s facing some further complications, which could de-rail his Twitter takeover plan.

As reported by CNBC:

Though Twitter’s board approved [Musk’s] purchase, it could still take months for the deal to close, and there’s no guarantee that it will […] The Information reported that the Federal Trade Commission is probing the timing of Musk’s disclosure. Bloomberg later said the FTC is separately reviewing the acquisition itself, though many experts don’t expect the deal to raise antitrust concerns.

So while the deal is still very likely to happen, there are some lingering concerns, while Tesla shareholders also have reservations about Musk taking out a loan that would be tied to his Tesla shares. Musk is now also looking to avoid that complication through alternate financing, which could provide some assurance.

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Worth noting, too, that Twitter shares have now fallen to less than $46 as a result of these complications, which is well below Elon Musk’s purchase price of $54.20.

Essentially, there are still a lot of moving parts, and while the expectation is that Musk will indeed become the owner and CEO of the social media app eventually, the timing and particulars of the deal are still in flux, which could mean ongoing uncertainty for Twitter, which is already effectively on-hold.

But that’s not stopping Agrawal from cutting costs, and making moves with the future of the company in mind. Despite him likely not being part of it – but then again, if it all falls through, Agrawal will be left to pick up the pieces, and get Twitter back on track, without the support of a multi-billionaire.

In this respect, Agrawal’s moves make sense, though perceptually, you can see how some will be questioning the decision to push out key leaders at this stage.

But again, the bottom line here is that Twitter is changing. No matter what happens, no matter who ends up in charge, several of the key people who underlined the platform’s ethos and approach are now moving on, which will have major implications in the long term.

Elon may look to transform the app into something entirely new anyway, but now, there’s no going back, regardless of what happens next.

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Twitter Launches New ‘Twitter Create’ Mini-Site to Highlight Monetization Opportunities for Creators

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Twitter Launches New 'Twitter Create' Mini-Site to Highlight Monetization Opportunities for Creators

Creators are the new currency for social media networks, with every platform now working to sweeten its deal in order to keep the top creative talent posting to their apps, and keep their fans coming back to check in on the latest.

And today, Twitter’s taking its latest step in working to boost its creator appeal, with the launch of a new Twitter Create mini-site, which will host a range of tips, insights and examples designed to help creators maximize their Twitter presence.

The new site, which you can check out here, includes specific sections for creators in different verticals to help guide them on how to maximize their Twitter presence.

Tap on ‘Podcasters’, for example, and you’re taken to a dedicated page of tips for how to promote your show, including notes on which specific Twitter products you can utilize.

Twitter Create

Obviously, given the focus on monetization, Twitter’s newer offerings, like Super Follows and Spaces are the main push, with each providing new ways to make money from what you do in the app.

Scroll down further in any topic stream and you’ll find case studies, notes, and other blog posts that can help to guide you in the right direction.

Twitter Create

The site provides a good overview of Twitter’s various monetization avenues, in nine different categories, while there’s also a range of blog posts and notes that can help to guide your tweet approach.

Twitter’s monetization tools, thus far, haven’t really caught on, with Twitter Blue not yet becoming a key contributor to the platform’s revenue, and other offerings also, based on Twitter’s most recent performance update, failing to drive any significant income for the company.

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But they do offer opportunity, and there are some users that are indeed driving significant benefit from these additions. The trick for Twitter now is to help creators maximize take-up, and build their own offerings to better incentivize people to pay for content, which is not a habitual behavior in the app.

That’s been a key challenge for its creator monetization tools thus far – people have always been able to read your tweets for free, why would they start paying for the privilege now? That hesitation seems to be a key tipping point that Twitter needs to overcome, and up till now, it’s been reliant on the creators themselves to come up with more compelling subscription offerings, in order to add value to their platform presence.

This new platform aims to provide more specific guidance on this element, which could make it a valuable resource for those considering their add-on options to incentivize subscribers, while newer additions like Super Follower Only Spaces provide more, simple add-on tools that can push creators in the right direction as to how they can enhance their Twitter presence for a paying audience.

Which is really what needs to happen. People aren’t going to pay for your tweets, no matter how witty you may think you are, but they will pay for exclusives and additional engagement offerings that can make them more aligned to your presence.

Up till now, Twitter hasn’t been great at articulating this, hence the low take-up of these tools. But this new platform provides more direct guidance, which could provide a boost for its monetization tools.

You can check out the new Twitter Create mini-site here.

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