Elon Musk walked into the San Francisco headquarters of Twitter yesterday carrying an actual sink... and now CEO Parag Agrawal and CFO Ned Segal have left the company, and they won't be coming back.
CNBC is reporting the news, with CNBC journalist David Faber tweeted the news that Elon Musk was now in charge of Twitter, where he's "told" that former CEO Parag Agrawal and CFO Ned Segal have left, and aren't coming back "as the Musk era begins".
It seems that the story is only going to get bigger from here on out, given that Elon Musk is now in control of the second-largest social networking site in the world... just as Meta is burning. Meta shares are down a stark 24.5% overnight, down from $130+ to just $98 at the time of writing.
Twitter shares on the other hand are holding steady, up 0.6% to around $53 right now... nothing has really changed in the last few days for Twitter. You'd think with all the negative press with Elon Musk acquiring Twitter and walking in with a sink, and how much outrage there is over it, that Twitter shares would be plummeting. But nope, Twitter is strong... Meta is sinking.
Musk explained in his message to advertisers: "The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence. There is currently great danger that social media will splinter into far-right wing and far left-wing echo chambers that generate more hate and divide our society".