INDONESIA: Elon Musk is working day in and day out to make changes to his newly purchased social media platform to move it in the right direction, including charging for “blue ticks” and laying off 50 percent of its employees.
Tesla Inc. CEO Elon Musk, a millionaire, said he was working “at the absolute highest amount…from sunrise til night, seven days a week” in response to questions about his recent acquisition of Twitter (TSLA.O).
Musk said through video link, “I have too much stuff on my plate, that is for sure,” outside the G20 conference in Bali. Along with the rocket firm SpaceX, the start-up for brain chips called Neuralink, and the tunnelling firm The Boring Company, Musk serves as CEO of both companies.
He made an on-air appearance while dressed in a batik shirt provided by the event organisers and lighted only by candles, claiming that he was speaking from a place that just had its electricity cut.
Shareholders at Tesla are concerned that Musk, a self-described “nano manager,” is disengaged at a key time for the largest electric vehicle company in the world. Musk has been intimately involved in working-level decisions ranging from supply chain issues to automobile style.
Since he revealed in early April that he had purchased a stake in Twitter, the value of Tesla’s shares has dropped by half. The pressure has elevated as a conclusion of his sales of Tesla shares, which last week included another $4 billion, bringing his Twitter-related sales to $20 billion.
Musk often mentioned his busy schedule when asked about the challenges of “decoupling” industrial supply routes from China and the risks posed by Russia’s invasion of Ukraine.
In response to the claim that many Asian business leaders wanted to be the “Elon Musk of the East,” Musk advised him, “I’d be careful what you ask for.”
“I don’t know how many people would really want to be me. They wish they could be what they see me to be, which is not the same as being me in reality, ” he added. Chief Twit went on to say, “Honestly, the amount of torture I put myself through is next level.”
Musk also stated his wish for Twitter to encourage more and longer-form videos in order to allow content creators to make a living off the platform, but he did not provide any other details. A live video of his remarks was broadcast on Alphabet Inc.’s (GOOGL.O) YouTube channel.