Elon Musk’s latest change on Twitter will be to make official accounts gray and company gold.
By Phillip Moyer | Published
Good news for anyone who wants to pay Elon Musk $8 for a Twitter icon! The billionaire plans to resume his confirmation process next week, according to The Hollywood Reporter. The paid check mark will remain blue, but the government check mark will change to gray and the corporate check mark will turn gold.
When Elon Musk launched his Twitter verification system in early November, the $8 verification symbol was the same color as any account verification symbol — used to identify official accounts as well as real people. Twitter’s trust and security team reportedly warned Musk that the move would lead to fraudsters and hackers violating the new trust system. Musk started the new system anyway. Shockingly, the new belief system was abused by fraudsters and hypocrites alike.
Ever since Elon Musk bought Twitter, he seems dedicated to promoting the blue logo as a status symbol. The new paid check will remain the same color as celebrities and other public figures. Elon musk has said that Twitter will manually verify the new accounts received, so everyone will know that the blue sign means the real person who paid Elon Musk $8.
Besides the new approval process, the social media company has made other big changes in the past month. Elon Musk fired Twitter executives immediately after buying the company. Then he stopped half of the Twitter users. Recently, he announced plans to restore suspended accounts shortly after restoring President Donald Trump’s suspended account.
The changes come as Elon Musk tries to make Twitter more profitable. He previously said that the social media site, which he owed $13 billion to complete its purchase, was losing $4 million a day.
Elon Musk’s changes to Twitter did not come without their consequences. According to Media Matters for America, media outlets have fled the podium in droves. As of November 21, half of Twitter’s top 100 advertisers have stopped advertising on Twitter. These advertisers have paid $750 million on Twitter in 2022 so far – about $2.3 million per day. This means that, unless Musk’s changes to the platform this month have brought about $6 million in savings per day, the company continues to operate at a huge loss.
It’s unclear whether the media that ran out of Elon Musk’s Twitter account will remain on the platform, which has reportedly been more active since Musk took office. It’s unclear how popular the new certification system will be, but it should be popular enough to make up for the company’s reported revenue shortfall.
On top of Twitter’s financial woes, the company is now facing a lawsuit from the fired employees, who say the layoffs don’t comply with California law. Elon Musk was also sued by the fired Twitter workers in Ghana, which led Twitter to negotiate with workers to pay the required severance pay.
Time will tell how Elon Musk’s new Twitter verification system will work. It is possible that his reduced staff will be able to use their new document approval system to be more productive. However, it is unlikely that enough people will pay $8 a month to earn money and the company’s losses cost $4 million a day – a staggering amount with 15 million paid workers.