Elon Musk finally finds 'someone foolish enough to take the job' of Twitter CEO
- Reference: 1683916033
- News link: https://www.theregister.co.uk/2023/05/12/new_twitter_ceo/
- Source link:
Musk made the announcement on Twitter that there was a new boss in town yesterday, [1]saying "She will be starting in ~6 weeks!" and that he'd be stepping back into an exec chair and CTO role, "overseeing product, software & sysops" – [2]all things Musk is an expert in .
But who could it be? Who will ride in to save Twitter as it continues to swirl down the drain into internet cesspit territory? Perhaps [3]this person is the new chief? Or [4]this one ?
[5]
To the likely disappointment of Musk's hordes of parasocial sycophants and yes-men, it won't be a female version of himself, but Linda Yaccarino, [6]says the Wall Street Journal , citing its favorite source – "people familiar with the situation." Incidentally, [7]The New York Times has been chatting to "two people with knowledge of the matter" who agree.
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Who is she? NBCUniversal's head of advertising for more than 10 years, apparently, and an "industry advocate for finding better ways to measure the effectiveness of advertising," the WSJ says. "As head of NBCU's advertising sales, she was key in the launch of the company's ad-supported Peacock streaming service."
Among Musk's litany of self-imposed Twitter woes, advertising has been the killer. Corporate clients hit the brakes on ad spending after the October takeover went through, unsure of where "free speech absolutist" Musk would lead the platform, and revenue accordingly [10]dropped 40 percent in December compared with the prior year. Pretty catastrophic for a company where advertising accounted for 90 percent of earnings in 2021, hence why subscription services like Twitter Blue and other means of parting users from their money were haphazardly set in motion.
[11]Musk decides to bury dead Twitter accounts, warns users follower counts could sink
[12]Twitter admits 'security incident' made private Circles not so much
[13]Twitter's API paywall crumbles (but only for those saving lives, predicting weather, etc.)
Yaccarino, though, is known for managing $13 billion in annual ad revenue, her close relationships with marketers and agencies, and "hard-nosed negotiating tactics," which have earned her the honorific "velvet hammer." So is Musk buying a new CEO, someone with advertising connections, or is he actually trying to buy clients?
Whether they could be tempted over is moot. I don't know about you folks, but I came back to Twitter to watch the airship crash, and the algorithm has never seemed more violent, racist, crass, and entertaining.
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Does Yaccarino, who by all accounts appears to be a very successful exec, really want multimedia 4chan on her CV? I mean, I love watching people punch each other's lights out as much as the next guy, but then again Musk [15]did say he'd resign as soon as he found "someone foolish enough to take the job."
We asked Twitter to comment and got the ol' poop emoji. Maybe that'll improve after the changing of the guard, if it ever happens.
Tesla's stock closed 2 percent up and continued to climb in after-hours trading following the news. ®
[16]
PS: That encrypted DM feature Twitter talked up this week turned out to be pretty useless. See [17]our update here .
Get our [18]Tech Resources
[1] https://twitter.com/elonmusk/status/1656748197308674048
[2] https://www.theregister.com/2022/11/14/musk_twitter_rpc_spat/
[3] https://twitter.com/DrEliDavid/status/1656750195210612742
[4] https://twitter.com/ayeejuju/status/1656748627505848320
[5] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/personaltech&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2ZF63CWFHu7CxI7MmKPVSaAAAAFg&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[6] https://www.wsj.com/amp/articles/linda-yaccarino-in-talks-new-twitter-ceo-elon-musk-7a006bb5
[7] https://www.nytimes.com/2023/05/11/technology/elon-musk-ceo-twitter.html
[8] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/personaltech&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZF63CWFHu7CxI7MmKPVSaAAAAFg&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[9] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/personaltech&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33ZF63CWFHu7CxI7MmKPVSaAAAAFg&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[10] https://www.wsj.com/articles/twitters-revenue-adjusted-earnings-fell-about-40-in-month-of-december-ee91f1eb
[11] https://www.theregister.com/2023/05/09/twitter_inactive_account_purge/
[12] https://www.theregister.com/2023/05/08/twitter_circle_security_incident/
[13] https://www.theregister.com/2023/05/03/twitter_api_public_service/
[14] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/personaltech&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZF63CWFHu7CxI7MmKPVSaAAAAFg&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[15] https://twitter.com/elonmusk/status/1605372724800393216
[16] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/personaltech&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33ZF63CWFHu7CxI7MmKPVSaAAAAFg&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[17] https://www.theregister.com/2023/05/10/twitter_adds_new_dm_features/
[18] https://whitepapers.theregister.com/
Re: As usual, hire a female CEO when the company is collapsing
I discovered today that the tactic is called [1]The Glass Cliff .
[1] https://psychology.exeter.ac.uk/cic/about/theglasscliff/
Entering Phase II
Let's see how far this plays out, will he really back off or will he just make this shit show shittier? Nah, couldn't happen...
Let's see now ...
New CEO : responsible for Advertising strategy, the lifeblood of twitter.
Old CEO : Will continue to make decisions for Deveelopment, Software and Ops
I don't see any conflict there at all. Should be Smoooooooth sailing.
The key contract clause will be the vesting period of the stock options.
The key Twitter date will be start date + vesting period +1 day
Doesn't matter how much experience she has selling ads
She'll find selling ads on Twitter a lot harder than selling ads on NBC was, when they invite white supremacists like Tucker Carlson to their platform who advertisers already found impossibly toxic at Fox News - and he'll be worse now because he'll know "free speech maximalist" Musk will let him say literally anything. If it was just him advertisers could say "make sure my ads aren't on his stream" but he's just the tip of the iceberg, and Tucker being there will probably encourage others like him to take their podcasts and what not to Twitter.
I'm sure Musk will blame the CEO when the company collapses, even though he's the one making all the bonehead decisions that drive advertisers away.
Re: Doesn't matter how much experience she has selling ads
So you're either BAME or Woke, sickening.
Re: Doesn't matter how much experience she has selling ads
You find BAME sickening? Odd thing to post publicly, I'm sure that will go well for you. If only we had a word for this sort of position...
Re: Doesn't matter how much experience she has selling ads
You think white supremacy should be applauded, sickening.
I didn't know you could spell "scapegoat" with only 3 letters.
El Reg really needs to add some sort of "sitting back and grabbing the popcorn" icon.
Do you people really think she's that naive?
Reading some of these comments, it sounds like the general opinion is that clever old Elon is leading this innocent little lamb to slaughter. Is that really likely?
I mean: one has to assume that she'll be making very good money -- it seems unlikely that a "hard-nosed negotiator" would be taking her entire salary in stock options. As for her future prospects... suppose Twitter goes down in flames, as seems likely. Nobody whose initials are not EM will blame her for the failure, and in her next job interview, it will be "Well, yeah, Twitter failed, but not because of me. It was... you know..." And if by some miracle Twitter survives and perhaps even morphs into X, she'll not only become very rich, but she'll be able to write her own ticket anywhere else that she chooses to go.
To me, it almost looks like a can't-lose scenario for her. She's not the desperate one here, and based on the (admittedly small amount of) information we have about her, it doesn't sound like she's a pushover. I don't think Twitter is likely to succeed long-term, but success or failure, as long as she acts with a bare minimum of integrity, I suspect she'll come out OK.
Re: Do you people really think she's that naive?
Yeah, I don't think she's innocent in this - she knows she's going to be his meat shield, but a) good money, b) good on the resume - once you've been CEO then no matter how badly you fail you can always get rehired as someone else's CEO, just look at Phil Harrison, c) everyone knows it was still Elmo's fault.
They both win from this (Elmo gets his meat shield).
Re: Do you people really think she's that naive?
I agree, and on the surface, she would be the perfect person to serve as the new CEO. Twitter's driven away a lot of advertisers and Musk got in fights with several of the remaining ones, and advertising is the way Twitter makes basically all of its money. The pay for unverified encryption and a check mark plan isn't going to make a dent. I think hiring someone with knowledge of the advertising industry and relationships with advertisers is likely going to extend Twitter's life by at least a couple months. If she had a lot of power, it would have the option of being longer, but Musk is the guy who has done all the stupid stuff for the past few months, so I see no reason to believe he's just going to stop. As such, although she has the opportunity, she should probably look at this as a speculative stepping stone, not a long-term deal.
Re: Do you people really think she's that naive?
I agree with the large majority of your reply, except for one point.
Twitter didn't drive away the clients, Politics did.....And this is the true lesson that must be remembered...
The current political situation is dangerous for all us, the division is steering people apart, politicians are jumping on the band wagon and pushing harder a situation which is already on tightrope....
I wish people would stop looking a the details and start looking at the bigger picture, ideologies have to start swinging back to the center... It's time the extremism, regardless of the side, starting re-pushing towards a softer vision, an actual acceptance of the other rather than the false ideologies actually being pushed.
Twitter is merely a Litmus test for things about to come.
Re: Do you people really think she's that naive?
As a non-user, I'm not sure that's the case. It's been popular to say that the reason advertisers have been leaving is just due to extremists forming a lot of the posts, and I'm sure that's a major factor. Another likely factor is that a lot of Twitter employees that interacted with advertisers, providing them support and someone to complain to, have been fired. That can't have helped either. Another reason is that advertisers were uncomfortable with the ease of impersonation enabled by the buy-your-verification system, back when users still saw the mark as indicative of something useful. Those latter two causes aren't political; they're the result of stupid management decisions and are specific to Twitter. I don't know which have been the largest factors making people change their advertising budgets, possibly because I tend to think that most advertising spending is wasted anyway.
he'd be stepping back into an exec chair and CTO role
And he promises, absolutely promises, that he'll never in any circumstances interfere in her job in any way or overrule any of her decisions even if he disagrees with them.............................. Sure.
If she attempts to disinfect the sewer at all, I hope she realises just what sort of awful reaction Elon's incel fanbois are going to have. And finds out in advance whether Musk is going to react by saying "Sorry, that's just free speech, can't do anything".
Meat Shield
She's just going to be his meat shield. He'll still be calling all the shots - he uses Twitter obsessively, and won't be able to resist because he has zero self-control. Anything he says to the contrary is an obvious eye-rolling lie.
Well, they both benefit from it, but anyone who thinks she's going to significantly change things has just not been watching Elmo for the last 10 years.
As usual, hire a female CEO when the company is collapsing
Ask them to be the new face of the disaster, then replace them when they fail at the impossible, or if they manage to make some headway, find an excuse to replace them for not having done the nearly impossible fast enough and stick another stooge in to take credit.
Leave it to EM to play every page of the corporate D-Bag playbook.