Elon Musk closed his $44 billion acquisition of Twitter, and the first move he made was to fire the management of the social network.
Musk fired Twitter CEO Parag Agrawal, Chief Financial Officer Ned Segal, and Chief Legal and Policy Officer Vijay Gade, according to Reuters.
Musk accused the previous leaders of misleading him and investors about the number of fake accounts on the platform, as well as not providing clear arguments about how to achieve the high ambitions he has with that social platform.
Musk said he wants to defeat "spam bots" on Twitter, make publicly available the algorithms that determine how content is presented to users, and prevent the platform from becoming a chamber of hate and division.
Reuters also reports that it has announced layoffs, leaving around 7.500 Twitter employees worried about their future.
Musk said he wants Twitter to become "the most respected advertising platform."
"There's a lot of speculation about why I bought Twitter and what I think about advertising. Most of it is wrong. Basically, Twitter wants to be the most respected advertising platform in the world that empowers your brand and brings growth to companies," said Musk, who is also CEO of the Tesla company.
By the way, more than 90 percent of Twitter's revenue in the second quarter of this year came from advertising.
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