As he starts his first week as Twitter’s owner, billionaire Elon Musk is already proposing significant changes to the social media company.
How much would people be willing to pay for the blue check mark that Twitter has previously used to verify higher-profile accounts so that other users know it’s them? was the question posed in a survey that a venture capitalist working with Musk tweeted.
The verified account of Musk responded, “Interesting.”
The mark, frequently given to journalists, politicians, business people, and celebrities, has been mocked by critics as an exclusive status symbol.
However, Twitter also employs the blue check mark as an additional weapon to combat misinformation from accounts impersonating individuals by validating activists, people who unexpectedly find themselves in the news, and obscure journalists at small magazines throughout the world.
In response to a user’s request for assistance in becoming verified, Musk tweeted on Sunday, “The entire verification procedure is being redone right now.”
To help lead the San Francisco-based company’s change, which is likely to involve a reorganization of its personnel, Musk has invited a group of investors and friends from the tech community.
CEO Parag Agrawal and other key executives were sacked by Musk last week.
It has been unclear whether or when he might start making more significant layoffs.
Musk agreed to buy Twitter for $44 billion in April, but the transaction wasn’t finalized until Thursday night after attempts to back out resulted in a drawn-out legal battle with the company.
Musk’s attorneys requested that the Delaware Chancery Court dismiss the case, according to a court document made public on Monday.
If they didn’t reach an agreement by the end of last week, the two parties were scheduled to go to trial in November.
Since the beginning of the year, Musk has made several statements about improving Twitter, but it is yet unknown which suggestions he will prioritize.