Buying your blue tick verified status? Sounds controversial. But if Twitter under Elon wants to make money, it should look at Tesla...
► Just like Tesla’s been doing for yearsCan Tesla’s history tell us anything about Twitter’s future? Plainly, a car maker and a social media platform are wildly different businesses. But Elon Musk didn’t buy Twitter unaided. A bunch of other, very savvy investors looked at the hundreds of billions of dollars of equity he created at Tesla and decided he has a chance of doing the same at Twitter.
At Tesla he produced cars with performance and range it took years for the established makers to match. He began building them at scale and largely solved the range issue for Tesla owners by building a charging infrastructure. At SpaceX he decimated the cost-per-kilo of getting into orbit. Twitter is very different. Musk inherited a staff of around 7400 with a particular, pre-existing corporate culture, a user base of around 240 million and a bunch of advertisers who currently provide 90 per cent of revenue. Elon is, famously, not a people person. His relationship with Tesla’s original founders Martin Eberhardt and Mark Tarpenning ended quickly, with lawsuits, and since then everything’s been done Elon’s way.
If he could save Tesla then, there’s still a good chance he can save Twitter now. The difference is that this crisis is at least partly of his own making, and the ‘cult of Elon’ which once put complete faith in his abilities and drove Tesla’s bonkers valuation seems to be losing some of its appeal.
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