Elon Musk officially took over Twitter on October 27. He is now the owner of the company. Ever since then he has faced a lot of criticism for introducing something or the other. For example, he was recently criticised for introducing an $8 charge per month for blue tick verification. Despite all the reactions from people, Elon Musk has remained stern with his decision.
Following this, his Indian-origin advisor Sriram Krishnan has defended Elon Musk’s decision to susbscription service at the same time pointing out some flaws with the present system for verification.
Here are four of the reasons that Sriram gave:
1. Significantly increasing friction is using a CC/mobile checkout. The money of anyone found imitating will also be lost.
2. There is a portion of people who should be verified and aren’t. However, vice versa is happening.
3. The current model has many spam issues while $8 will give everyone a credible checkmark which will make them less valuable.
He commented,” last but not least, social media verification was created to address the issue of this person is who they say they are.” The phrase “we judge this person to be famous” was not intended to be used. This returns it to the design’s original intent. No more DMing staff in exchange for a favour.
Musk’s advisor continued by saying that, similar to every launch, there will be opportunities for refinement and modifications, but he is enthusiastic about the first modification to the way social media verification functions in a very long time.
Other than this, a day after Musk announced he would be assisting the Tesla CEO with the new business, Krishnan announced that Musk had purchased Twitter for $44 billion. On October 31st, he tweeted: “Since word has spread, I’m temporarily assisting @elonmusk with Twitter along with several other fantastic individuals. Elon is the one who can make it happen, in my opinion (and a16z’s opinion), because this is a really important firm that can have a significant impact on the globe.”