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Elon Musk to join Twitter’s board of directors, teases "significant improvements"

After taking a 9.2 percent stake in the social media company, Elon Musk will join Twitter's board of directors.
Elon Musk to join Twitter’s board of directors, teases ‘significant improvements’
File photo: Twitter logo

The world's richest person will soon help steer the social media platform

Allegedly, Elon Musk had a meeting with Parag Agrawal, Twitter's chief executive a few weeks ago, informing him that he is buying shares of the social media company. At the same time, Musk confided that he has some ideas on how to make Twitter better.

Elon Musk to join Twitter’s board of directors and teases "significant improvements"

After that, the CEO made an announcement that they are appointing the tech billionaire to be one of the board of directors. Agrawal added, 

Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board. He's both a passionate believer and an intense critic of the service which is exactly what we need on Twitter, and in the boardroom, to make us stronger in the long term.

Former chief Jack Dorsey praised the move, saying in a tweet that Musk "cares deeply about our world and Twitter’s role in it." He even said that he wanted Elon to join the board for a long time.

According to a filing with the Securities and Exchange Commission, Elon Musk would be appointed to its 11-person board in a term that expires in 2024. He has also agreed not to own more than 14.9 percent of Twitter's stock or take over the company.

Unlike some other Twitter board members, Mr. Musk did not sign an agreement that bars him from influencing the company's policies. This means he can work with Parag Agrawal on a futuristic vision for "decentralized" social networking.

In a nutshell, this kind of social networking will allow users to customize their social media feeds and establish their own rules about what kinds of speech are acceptable. This is far from the present setup since social media companies have rules on what posts can stay up and what should be removed.

The new board member also asked his followers in a Twitter poll whether they wanted an edit feature or not. The poll has already attracted over four million votes as of writing.

Now, Twitter just confirmed that it is working on an edit button! The company's vice president of consumer products Jay Sullivan said it had been "the most requested Twitter feature for many years" in a thread. 

Under this edit function, users would be able to fix typos or errors in a tweet without losing any replies, retweets, or likes it has already gained.

Twitter said it would start testing the idea in the coming months.

What do you think?

Sources: BBC, CNBC

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