Elon Musk’s strategy “does not bode well” for the future of Twitter, an early backer of the billionaire’s SpaceX firm has warned.
The social media platform has been in an almost constant state of chaos since the world’s richest man bought it in a $44bn deal last month, with warnings this week that a spike in traffic during the World Cup could knock it offline.
Musk is battling a mass exodus of staff – beyond the thousands he laid off himself – after setting an ultimatum that anyone who remains at the company must sign up to “high intensity and long hours”.
Speaking at Sky News’ Big Ideas Live event, Chris Kelly, who invested in SpaceX, suggested that Musk’s more successful approach at that company would not translate well to Twitter.
“He should have taken a much more measured approach when he was taking over,” said Mr Kelly, who is the former head of global public policy at Facebook.
“He’s able to do some pretty amazing things, but has got into an area that’s well outside his depth and thinks a bullying management culture can change it – and that’s not going to work at a company like Twitter.
“I’ve certainly seen some driving management moves from Elon at Tesla and SpaceX before, but I’m surprised this was the approach.”
‘Will it work tomorrow?’
The growing uncertainty over Twitter’s future was another shock from an incredible period of drama for big tech, including huge job cuts at Meta and Amazon, crypto exchange FTX going under and the disgraced founder of Theranos being sentenced to more than 11 years in jail.
Mr Kelly, who considers himself “mostly an Elon fan”, said the drama at Twitter topped the lot.
“The fact it would go from central town square for the world to ‘will it work tomorrow?’ is a big question,” he said.
“The massive cutbacks and chainsaw that Elon Musk has taken to the company does not bode well for its future.”
Mr Kelly was an early investor in SpaceX and is “mostly an Elon fan”.
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