Elon Musk has put his position as head of Twitter as much as a vote, and the individuals have spoken: He ought to step down because the chief of the social media platform he owns.

It comes after strain from Tesla buyers, who really feel deserted.

As we reported over the previous few weeks, Tesla buyers have change into extra vocal about their dissatisfaction with their CEO, Elon Musk, spending a variety of time on Twitter and promoting Tesla shares to assist the corporate.

On prime of it, many see him turning into extra political by means of his personal use and management of Twitter and imagine that the pattern is affecting Tesla as many automobile consumers have difficulties separating Tesla and Musk.

Tesla buyers have been calling for Musk to step down from the position of CEO at Twitter and refocus on Tesla, however Musk has largely ignored their pleas.

It reached a degree the place buyers had been beginning to now name for Musk to step down from his position as CEO of Tesla as an alternative.

Leo KoGuan, the third largest Tesla investor, advised Electrek final week:

The purpose of no return, Elon has moved on completely I feel from Elon the engineer par-excellent to Elon the supreme political king-maker. Based mostly on this assumption, solely based mostly on this assumption, Elon ought to discover his personal successor accredited by impartial BOD members. In fact, BOD ought to arrange an impartial search committee to discover a new CEO.

Following a couple of extra errors over the previous few days, like suspending journalists and banning sharing hyperlinks to different social media, each strikes that had been later at the very least partly reverted, Musk’s personal management of Twitter has come into query as properly.

Caught between the 2, Musk took to Twitter yesterday with a ballot to ask whether or not he ought to stay the pinnacle of Twitter:

Ought to I step down as head of Twitter? I’ll abide by the outcomes of this ballot.

— Elon Musk (@elonmusk) December 18, 2022

The CEO says that he’ll abide by the results of the ballot – one thing he has executed previously over different issues.

Over 17 million individuals voted and a considerably robust majority (57%) voted in favor of him stepping down. That’s spectacular contemplating Musk has a block record stopping individuals he dislikes from seeing or voting on this ballot and the ballot went out to his personal followers.

Musk doesn’t seem to have a transparent successor to steer Twitter – although he tweeted with Lex Fridman, an AI engineer and podcaster, about doubtlessly taking up.

Tesla’s inventory (TSLA) was up by as a lot as 5% in pre-market buying and selling following information of the ballot.

Electrek’s Take

Let’s see what he means by “stepping down” right here. He nonetheless owns the corporate and it’s personal. So far as we all know, there’s no board in place but nor a transparent construction to discover a alternative.

Due to this fact, I don’t suppose discovering another person to steer the day-to-day will resolve all the problems for Tesla shareholders, however it could actually unlock extra time for the CEO to spend on the corporate.

Nonetheless, the loss in credibility that he suffered by means of these Twitter antics is prone to have a long-lasting impression on each Tesla and Twitter.

As for the latter, if Musk really desires it to be a platform without cost speech that serves the middle relatively than the extremes of each political sides, Twitter might be higher off with somebody extra apolitical than himself.

Fridman might doubtlessly be a great possibility for my part. He does appear much less political and extra level-headed than Musk.

Both means, I hope that this implies I can quickly cease reporting on this Twitter nonsense and deal with extra enjoyable stuff once more.

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