Elon Musk’s imminent takeover of Twitter is expected to lead to big changes at the social media company, including the possible return of Donald Trump and employee layoffs. But on Thursday, Musk says he plans on keeping one thing intact: the platform’s focus on attracting advertisers.
The Tesla and SpaceX CEO today posted a message that tried to reassure advertisers that Twitter will remain ad-friendly, even though Musk plans on rolling back content-moderation policies on the platform. "Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!” he wrote.
Elon Musk has said all along he’s buying Twitter to bolster free speech on the social media platform and rein in the company’s content moderation, which has sparked fears that a flood of new misinformation and hate speech could proliferate on the platform once he takes over.
In 2019, Musk also tweeted “I hate advertising,” when Twitter draws most of its revenue from online ads placed alongside tweets. Taken together, Musk’s push for less content moderation has reportedly caused some advertisers to take their budgets elsewhere.
But on Thursday, Musk said: “There has been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong.” He added his goal in buying Twitter is to establish “a common digital town square, where a range of beliefs can be debated in a healthy manner, without resorting to violence.”
The same town square will have its own guardrails. “In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature,” Musk wrote.
“Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise,” he added.
The statement may signal that at least some of Twitter’s content moderation will remain intact. The same content moderation can prevent hate speech and misinformation from showing alongside ads from companies. Losing the ad dollars would also undermine Musk’s acquisition of Twitter, which he’s buying for $44 billion.
Musk is expected to complete the acquisition tomorrow, Oct. 28, or else Twitter's court case forcing him to buy the company will go to trial. Yesterday, Musk personally visited Twitter’s offices in San Francisco, and tweeted a video of his arrival.