Elon Musk’s Twitter suspended the subscription-based blue tick verification badges on Friday, only days after introducing them as part of a slew of changes. The social media site planned to charge $8 to users who wanted the premium blue tick verification badge, but as soon as the service went live, several fake “verified” accounts appeared on Twitter, causing the platform to reconsider its decision.
Previously, blue tick verification was provided to notable figures in various fields such as entertainment, politics, journalism, and so on to avoid impersonation, but after Tesla co-founder Elon Musk took over the social media giant in a $44 billion takeover deal, the company decided to change the verification policy and decided to provide blue tick to anyone willing to pay $8 for the service.
Following the launch of the service, numerous fake accounts, including Elon Musk’s own Tesla and SpaceX, appeared with a blue tick. An impersonator account even claimed that ‘insulin is free,’ prompting pharmaceutical company Eli Lilly & Co. to issue an apology via Twitter.
There are currently two types of verified accounts on Twitter: one that was verified before to Musk’s takeover and states, “This account is verified because it is notable in government, news, entertainment, or another specified category.” The other verified account belongs to a person who paid $8 for Twitter Blue service.
The payment for the blue tick badge was necessary because analysts believe Musk overpaid for the $44 billion contract, which he is now realising. He has sold billions of dollars in shares from his other firm, Tesla, and has also raised funds from the markets. Several sponsors have paused their Twitter commercials as they learn about the new leadership’s policies, and the current mess of fake accounts has made them even more sceptical.
Elon Musk has recently cautioned Twitter employees to brace long hours as the firm approaches bankruptcy. The warning came as the US regulator announced the departure of the company’s trust and safety chief, as well as other top officials.
Musk cautioned in his first company-wide email that Twitter will not “survive the upcoming economic slump” if it does not increase subscription revenue to balance dwindling advertising revenue, according to three people who saw the message, reports Reuters.
(With inputs from Agencies)
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Farid Ahmed Naik is Executive Editor for The Chenab Times and first Sarazi language news reporter. He also covers Crime and Politics on CT. Read More…
