Shulou(Shulou.com)11/24 Report--

Beijing, December 19 (Xinhua) over the years, Elon Musk (lon Musk) has established a set of effective business tips to start companies from Tesla to SpaceX. Unfortunately, this approach will not turn Twitter into a profitable company, it will only make it a complete failure.

Musk successfully built Tesla and SpaceX, so what are Musk's business secrets? His strategy is to enter an area where there is little competition, declare that the new company will solve a huge global problem or achieve a seemingly impossible goal, and then raise money from a group of fanatical loyalists. Attract them with gorgeous, immature product ideas and suck billions of dollars away from the government. Then, pay employees too low wages, underestimate their value and make them overwork. Over and over again.

However, Twitter is diametrically opposed to the "Musk-style company". It is an influential but smaller player in a field of social media dominated by well-funded giant competitors. The government is more likely to tighten regulation of Twitter than to give it contracts that can make a windfall. And Twitter employees have a lot of options: they can leave and work for companies that treat them much better than Musk.

But perhaps most importantly, many see Twitter and Musk's ownership of the company as part of a global media problem rather than a grand solution. Without a big promise to change the world to mask his childish product ideas and eccentric management, Musk's acquisition of Twitter is doomed to failure.

Old-fashioned: hard core culture, painting big pie Musk's series of measures after the acquisition of Twitter caused a shock, but if you have been following his company for the past decade, his brutal and violent layoffs are not at all surprising.

Take, for example, his ruthless treatment of Twitter employees. Musk fired thousands of employees a few days before Thanksgiving, and brutal work schedules forced the rest to sleep in the office, leaving the company with a culture of fear and mistrust. His lack of respect for his employees is exasperating, but in all his business adventures, Musk has proved to be an uncomfortable boss.

Tesla and SpaceX are known for their exhausting workplace culture. In 2016, SpaceX agreed to pay $4 million in compensation to employees as part of the settlement. Earlier, SpaceX employees sued the company for failing to provide work rest time and adequate wages. In addition, workers at Tesla's factory were intimidated by the company for trying to form a union. In 2017, workers at the Tesla California factory said they were underpaid compared to their unionized auto workers as part of an effort to unionize.

The chaotic management of hard-core culture is standard for Musk, in stark contrast to what Mr Musk claims his company can achieve. Now, Musk has made a major commitment to the future of Twitter to attract people to the platform, including amazing video tools, 4000-character tweets and a series of advanced features to end annoying robots. The preview of this product is also standard at the Tesla press conference hosted by Musk. In 2019, he promised that the company would have "more than 1 million self-driving taxis on the road" by next year. But so far, Tesla has not launched a self-driving taxi. More than two years after the first orders for the electric pickup truck Cybertruck were open for booking, loyal Musk fans are still waiting for their new car. Even the products that Tesla has launched, such as the Model 3, are a few years behind Mr Musk's promise.

Why doesn't it work for Twitter? At every Musk company, their core selling point is a huge promise to change the world. The idea they sell is that their products and services are saving mankind from thorny problems, whether it's the climate crisis or transportation.

Just imagine, a luxury sports car can protect human beings from global warming? The solution to Earth's poisoning is to move everyone to Mars? The idea has fallen apart, but that's not the point. The whole purpose of creating these myths is to turn investors, employees and customers into evangelists.

That's how Musk keeps employees in painful working conditions: make them feel like they're saving the world. But it doesn't work on Twitter. Twitter employees join a company whose values are very different from what Musk calls "free speech absolutism". Accustomed to the work culture before hardcore, they can take time off instead of staying up until late-night meetings or listening to Musk's random ideas.

Twitter if Twitter employees want to stay in the industry, they have other options. The broader job market remains strong, with many laid-off skilled workers having no problem finding new jobs, and some earning even higher salaries than their previous jobs. Even in Tesla, where Musk insists on creating myths, this exhausting rhythm leads to extremely high turnover, especially for employees who have to deal with Musk regularly. Musk's cultural shift when he took over Tesla was like the death Eater of Voldemort taking over the auditorium at Hogwarts, according to a former senior employee. Don't be surprised if more Twitter employees leave.

Painting big cakes is the reason why Tesla became a superstar after being listed on the market. People buy Tesla to be part of Musk's mission. It doesn't matter whether Tesla only made a profit last year, its lineup is unreliable, or more established carmakers are preparing to catch up with its technology. At that time, any journalist or investor who questioned Musk or his mission would be bullied and harassed, as it is now.

Loyal believers believed Musk's vision of changing the future, helping Tesla become the most valuable car company in the world. But this kind of thing is hard to happen on Twitter. Musk may claim that he bought the company in the name of freedom of speech he wanted, but unlike his other businesses, he doesn't have enough people to trust him, whether it's the media, customers, employees or his users.

Time is running out. There is not much time left for Musk. More than 90 per cent of Twitter's revenue comes from advertising, but it has been squeezed by bigger competitors such as Facebook and Google and overtaken by newer, more popular platforms such as TikTok. In other words, if advertisers want to reach people, they don't need Twitter. While revenue is falling, Twitter still has to repay $1.3 billion a year in debt for its leveraged buyout. Twitter has never made $1.3 billion in a year, and Musk has never run a company in this situation. In the past, he had time and money from investors to burn. But even with these advantages, he almost let Tesla go bankrupt in 2018.

Musk is going to give up his son? Coincidentally, Musk posted a poll on Twitter on Sunday asking fans if he should step down as head of Twitter. Is he ready to give up?

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