Twitter was an unprofitable mess long before Elon Musk – he might be its only lifeline
Goran Calic is an associate professor of strategic management at McMaster University’s DeGroote School of Business.
Since 2013, Twitter had fallen from the world’s third-largest social-media platform to the 17th. The company had barely innovated during that time, while its competitors had worked hard to reinvent themselves. In 2016, rumours suggested another large corporation, possibly Microsoft Corp., Alphabet Inc. or Walt Disney Co., was about to acquire Twitter, but that didn’t happen. The most-cited reason was that Twitter was paying its employees twice what the competition was paying and no one wanted to engage in messy layoffs and restructuring.
To create a more innovative Twitter, Mr. Musk has already made, and retracted, product changes, as well as promising many more – including the potential for Twitter banking. Mr. Musk is an entrepreneurial manager, and this style, which is destructive – and creative – is now on full display. Because we so rarely get to see this approach in action, it’s shocking; but it’s how Mr. Musk operates.
Other spacecraft developers would go to great lengths to prevent others from seeing a launch. The last thing they’d want was a prospective customer such as NASA seeing a version of the rocket they’re trying to sell being blown to pieces.
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