Wall Street thinks new Twitter CEO Parag Agrawal is too much of an insider to bring needed change to the company
, Elliott's head of activism, and Marc Steinberg, a portfolio manager there, said the investment in Twitter"has been productive and effective."
Others are less convinced."Twitter probably needs a more dramatic management change than what has been announced," Mark Mahaney, a top internet analyst at Evercore ISI, wrote in a note to investors. "What underlies these value proposition challenges has been an inconsistent product development track record, which the company has acknowledged, to its credit." Mahaney wrote."Perhaps having a 'full-time' CEO will improve this track record. It's hard to know. And we don't believe we'll have great insight for several quarters to come."
As a CTO, engineer, and AI expert, Agrawal may know where changes can be made to benefit advertisers and he will be under pressure to further monetize the platform.
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