Balenciaga deletes Twitter account because of Elon Musk
Courtesy of Balenciaga
It is no secret that Elon Musk has made a new purchase, and a big one. The billionaire now owns one of the biggest media platforms to use today, Twitter.
Immediately Musk has made controversial changes to the use of the app and people have not been happy with it. Making Twitter a private company gives Mr. Musk some advantages, including not having to make quarterly financial disclosures and private companies are also subject to less regulatory scrutiny. This would help with having to deal with shareholders being angry with the changes made, with the way the social platform is used. By having the company private there would be limited liability, separate legal entity, flexible management structure which makes the company more tax efficient.
Twitter has cut off half of its workforce and has started charging $8 for the sought-after blue tick verification. Musk requested that logged out users visiting Twitter’s site be redirected to an explore page which shows trending tweets and news stories, according to a verge report. Musk put a poll on Twitter asking people if he should bring back Vine. Of nearly 5 million people who participated, 70% said “yes”. He has instructed Twitter engineers to work on a Vine reboot that could be ready by year-end, Axios reported.
Courtesy of Balenciaga
Twitter users engaging in impersonation without clearly specifying it as a “parody” account will be permanently suspended without a warning, Musk tweeted. He also said Twitter’s mission is to become the most accurate source of information about the world. Musk said Twitter’s in-app search would be improved, “Search within Twitter reminds me of infoseek in 98! That will also get a lot better pronto”, he tweeted.
But Balenciaga is not having it. Balenciaga left Twitter after Musk’s messy takeover on the social platform.
Courtesy Dazed Digital
Advertisers continue to express concern over Musk’s ongoing moves, luxury fashion brand Balenciaga has become the first major brand to completely remove their accounts, reported by Business of Fashion. The company is yet to make an official statement for their departure, but sources explain reasoning for this is Twitter introducing and subsequently removing paid account verification. Balenciaga confirmed its departure, but declined to provide further context. The last weeks have been critical for the media platform which Musk acquired for $44 billion. The top executives of the platform resigned because of the new unorganized structure that was introduced through Musk’s takeover, including chief information security officer Lea Kissner. The new developments have sparked a conversation of concern by the Federal Trade Commission.
Alongside Balenciaga, corporations such as Dyson and General Motors have reportedly suspended their advertising campaigns, which many more companies have yet followed.