Elon Musk plans to start charging for Twitter’s blue checkmark from next week, according to media reports, as the billionaire’s plans for the social media giant take shape. Musk plans to launch his $8 subscription service for users who want to get or keep the checkmark starting Monday, The New York Times and Bloomberg reported Thursday, citing internal documents and people familiar with the matter, respectively. The Tesla CEO’s plans come as the billionaire seeks to boost revenue and combat spam accounts after completing a $44 billion purchase of the platform last week. Despite its influence in politics and journalism, Twitter, which was launched in 2006, has rarely turned a profit and reported a net loss of $270 million in the second quarter of this year. Under Twitter’s current system, famous users and accounts deemed to be of public interest can apply for a checkmark to verify their identity for free. Originally introduced to prevent accounts from impersonating public figures, the check mark has become perceived as a status symbol and, to critics, a sign of liberal elitism. Under Musk’s planned overhaul, users will no longer be required to authenticate themselves, according to the New York Times. The changes will be rolled out in the United States, Canada, Australia and New Zealand first, and existing users will have an interim period to sign up or lose their checkmark, the paper said. In a series of tweets on Tuesday, Musk described the current verification process for high-profile accounts as “bullsh*t” and a “lord and peasant system.” “Power to the people! Blue for $8/mo,” Musk tweeted. Musk also plans to cut half of the San Francisco-based company’s 7,500 employees, according to reports from Bloomberg and The Verge. Musk’s acquisition of the platform has become a lightning rod for the heated debate over free speech, misinformation and online hate in the age of social media. Musk, a self-described “free speech purveyor,” has criticized Twitter’s moderation policies and accused the company of favoring left-wing views. While critics have raised fears that Musk’s ownership of the platform could pave the way for more hate speech and misinformation, many conservatives hailed the acquisition as an antidote to Big Tech’s censorship of politically incorrect speech. Musk, who has been described as a political moderate, has spoken of the need for a “common digital town square” that allows for a diversity of viewpoints, while insisting he does not favor a “free-for-all hellscape.” Despite Musk’s assurances, major brands including General Motors, General Mills and Audi have stopped advertising on the platform as they seek clarity on its direction under its new owner. Twitter generates more than 90 percent of its revenue from ads, which totaled $4.5 billion last year. Musk has said he wants to reduce the company’s reliance on advertisers.
