His detractors should get used to it.
His followers and Tesla (TSLA) – Get Free Report shareholders have additionally been asking him for a number of months to be much less current on Twitter to handle the automobile producer particularly.
Elon Musk has simply answered them. And it’s clear that this reply is not going to please them. The serial entrepreneur undoubtedly guidelines out the concept of lowering his exercise on the platform. He will not go away Twitter.
The query was certainly posed to him throughout Tesla’s fourth quarter earnings’ name with analysts on Jan. 25.
“Let me check my Twitter account. Okay, so I’ve got 127 million followers, and it continues to grow very rapidly. That suggests that, you know, I’m reasonably popular,” the billionaire stated.
“I might not be popular with some people, but the vast majority of people that follow the account speaks for itself.”
The Net Value Is ‘Gigantic’
He then indicated that his omnipresence on Twitter is even helpful to Tesla.
“I think Twitter is actually an incredibly powerful tool for driving demand for Tesla. And I really encourage companies out there of all kinds, automotive or otherwise to make more use of Twitter and to use their Twitter accounts in ways that are interesting and informative, entertaining, and it will help drive sales just as it has with with Tesla.”
He concluded by saying that his use of Twitter had extra constructive results for Tesla than adverse.
“The net value of Twitter apart from, you know, a few people are complaining is gigantic, obviously.”
The platform, which he calls the city sq. of our time, is the place opinion makers and trendsetters meet. He’s a member of each these teams.
Musk has additionally determined to make Twitter the place of expression for conservatives, who criticized Twitter 1.0 for muzzling them and favoring the progressives. Seeming to share these criticisms, the entrepreneur, who calls himself a free-speech absolutist, reactivated a lot of the accounts of conservatives who had been suspended as a result of they violated the social community’s content material insurance policies.
Musk does recurrently denounce the symbols of progressive ideology like wokeism, pronouns and ESG — environmental, social and company governance — activism.
He campaigned for the Republicans: In Novembe,r he urged voters to again the GOP candidates to create what he described as a steadiness of energy in Washington, which on the time leaned in favor of the Democrats.
Musk has additionally stepped up assaults on elected Democrats. And he orchestrated the publication of what he calls the Twitter Files, which he says include revelations exhibiting collusion between the platform’s leaders and Joe Biden’s marketing campaign throughout the 2020 presidential election.
How About Tesla Brand?
The downside with all this political activism is that it hampers Tesla, which went by stock-market hell in 2022. Tesla shares final yr misplaced two-thirds (65%) of their market worth.
“In the past year, we have seen Tesla’s brand lose equity across every brand value, from foundational safety to refinement,” stated Alexander Edwards, president of the San Diego consulting agency Strategic Vision.
“These problems are magnified in that battery electric vehicles are more often purchased by self-identified Democrats who have generally opposed Musk’s actions with Twitter. It will become more difficult to sell Tesla vehicles as the narrative of Twitter makes the vehicles seem less fun and alienates the primary buyer.”
Sharing this view, a few of Tesla’s most vocal shareholders, reminiscent of Gary Black and Ross Gerber, have publicly referred to as on Musk to get out of politics and deal with the automaker, significantly at a time when the financial system might plunge into recession.
While Musk has stated he’d be stepping down as CEO of Twitter, the tech mogul has beforehand signaled that he is not giving up on his tweets about politics.