Chief Twit Elon Musk Makes a Mostly Disastrous Start

Elon Musk has wasted no time in showing the world that Twitter Inc.’s new sheriff is in town — or rather its “chief twit” is. That was his new Twitter bio last week when he walked into the company’s San Francisco headquarters holding a sink, a gag prop for a tweet. He then made plans to radically change the company’s blue-badge verification policy and also tweeted (and deleted) a vile conspiracy theory about Nancy Pelosi’s husband that augurs a chaotic approach to content on the site. And according to a filing on Monday, Elon Musk is now the sole director of Twitter after the removal of the entire board.

So far, so Musk.

His breakneck pace of activity is probably giving whiplash to staff at Twitter, who are used to a slow, consensus-based approach to change. In just the last three days, he has scoped out radical reforms including deep job cuts, while also signaling a chaotic and confused approach to improving “free speech.”

First, the good. According to reports in The Verge and Platformer, Musk wants to take away the blue badges of verified users if they don’t pay for the site’s new subscription service Twitter Blue for as much as $20 a month.

That has caused consternation among blue-badge holders, but it isn’t a bad idea. YouTube’s hugely successful fee model is similarly extortionate: Essentially, pay $10 a month or be bombarded with time-sucking ads on the site. In seven years, that has created an estimated $6 billion a year business. It’s Machiavellian, and it works.

On Twitter, getting verified has been free and led to an estimated 300,000 blue-badged accounts, including my own. If half of us pay the fee, either ourselves or by expensing it to an employer, that’s about $9 million in revenue per quarter, or $36 million annually for Twitter. Small fry for a social media giant (Twitter’s second-quarter ad revenue was $1.2 billion; Meta Platforms Inc.’s was $28.8 billion), but it could be the start of a growing business if Musk can build on his verified customer base and offer more.