If you logged on to Twitter today, then you would have noticed the latest hilarious prank of Elon Musk.
As you can easily observe here, the Twitter Icon in the app has been replaced by the Doge character. It is also the symbol of Dogecoin.
Dogecoin is a meme-based cryptocurrency that Mr. Musk used to be a big supporter of. No one knows why? Some people speculated that it is nothing more than an April Fool’s Day joke or prank.
As far as Musk is concerned, he is saying that his idea was based on a proposal that he got some time back. Anyway, no organization will be willing to take a risk diluting its brand recognition in such a way.
Not even an individual who invested $44 billion into the company will ever consider the same. But here, the catch is that if you are one of the richest people in the world, money probably loses meaning at some point.
So, it is doubtful that the potential aspects of negatives in this respect even factor into Elon’s logical thinking. Anyway, people wonder a lot about the broader impacts on the perception of Mr.Elon as a genius and business leader.
Furthermore, most of his investors and others are associated with Tesla and SpaceX, but even they have concerns regarding the erratic nature of Elon Musk’s management style at Twitter.
Maybe this is how he is always running things whenever it relates to his taking decision for his companies. Elon Musk’s off-the-cuff decisions are now coming into the public domain.
It might seem problematic when applied to self-driving cars and rockets. These types of antics have started impacting the overall reputation.
Whatever the issue, Elon is just entertaining himself, even at the cost of his own company. The stock price of Twitter dips more than 50%, with revenue declining at a similar rate.
It is an important thing, but there is still no word from Twitter if it is just a prank from Musk or a permanent change.
Anyway, one possible reason for putting Dogecoin on Twitter could be that Mr.Musk is facing a $258 billion racketeering lawsuit currently for his support for Dogecoin.
So, the plaintiffs are alleging that Mr. Musk used his massive presence on Twitter to artificially inflate the value of cryptocurrency, out of which Musk owns up to 28% of the entire coin listing.
His well-thought game plan might dilute all types of negative coverage coming from this case by flooding Twitter with alternative stories instead.