Twitter’s top exec says Elon Musk’s approach to his takeover has created a ‘chaos tax’ for the company

NEW YORK, NEW YORK - MAY 02:

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  • Twitter’s chief product officer said the “chaos tax” of Musk’s takeover bid is likely to continue, for WSJ.
  • Twitter has held 15 large-scale meetings following Musk’s $44 billion (R694 billion) bid, the Journal reported.
  • Some employees are optimistic that Musk can help transform the company, but others want to leave.
  • For more stories go to www.BusinessInsider.co.za.

A senior Twitter executive told employees that Elon Musk’s $44 billion (R694 billion) takeover bid had created a “chaos tax,” according to internal Slack messages seen by the Wall Street Journal. .

In an internal message addressing the company’s tumultuous takeover, Twitter’s new chief product officer, Jay Sullivan, told employees, “I hope the ‘chaos tax’ and ups and downs continue.”

He added: “As I learn more, I will find ways to share with this group.”

According to the Journal, Twitter has held 15 company-wide or division-wide meetings to address employee concerns amid the turmoil that followed Twitter’s board decision to accept Twitter’s hostile takeover bid. Musk.

Sullivan himself joined as a result of this turmoil, replacing one of two executives fired by CEO Parag Agrawal in a “shuffle” that also included a hiring freeze and the termination of job offers.

Some employees have left the company, others are looking for new jobs, while still others are said to be hunkering down to watch Musk turn the company around, the Journal reported.

Musk has publicly berated Twitter since reaching a deal to buy the company, accusing it of not be politically neutral, blocking free speech, and is wrong in its estimates of the number of bots on the platform. He has put the deal “on hold” over the fake account issue.

Agrawal wrote a Twitter thread on Monday explaining why Musk’s proposal that Twitter should take a sample of 100 users to determine the number of bots would not work. Musk responded with a poop emoji.

The Journal reported that several employees had expressed optimism about the acquisition, with “dozens” in a Slack channel tagged “i_dissent” hoping Musk could help turn around a company that had surpassed its user total for three years.

Earlier in May, Musk said he wanted to hire more people and quintup Twitter’s revenue by 2028.

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