The Fall of Twitter

Musk’s new user verification policy leads to fake accounts and misinformation

Elon Musk garnered recognition in the late 2010s for his eccentric business practices — particularly Tesla electric cars and SpaceX extraterrestrial ventures. His estimated net worth is over $180 billion, making him the wealthiest man in the world, according to the Forbes Real-Time Billionaires List. 

However, a third company of his is making the current headlines. Many have criticized his takeover of the social media platform, Twitter, and how he has subsequently managed it. In particular, on November 9, he allowed any user to pay $8 in exchange for new features and a blue checkmark next to their username, which Twitter users call “verification status.” This feature was previously only for notable or verified public figures and organizations.

Twitter says it traditionally only gave verification status to accounts that are “active, notable, and authentic.” Celebrities, large corporations, and government officials could use their official status on Twitter to reach a larger audience, advertise, and connect directly with the public. In Canada, social media is increasingly becoming a way through which government officials communicate with their constituents. In 2019, only five Members of Canadian Parliament didn’t have Twitter accounts. 

This form of communication allows users to reach a wider audience, and verification status used to solely indicate those who the company considers influential enough to be listened to. However, it did not always mean trustworthiness. For instance, former United States President Donald Trump’s Twitter account received extensive media coverage and social media attention prior to his ban after the January 6 insurrection. 

Musk has criticized Twitter in the past regarding its misinformation policies, which he and other critics of the site see as restrictions on free speech. He says implementing more free speech principles as one of his main reasons for purchasing Twitter back in April 2022, saying that “the company will neither thrive nor serve this societal imperative in its current form.” 

Following the verification policy change, numerous parody accounts were created and verified by an eight dollar purchase, which some users may have found confusing. One fake Twitter account for Nintendo America posted a picture of the character Mario holding up the middle finger. A verified parody account of Eli Lilly, a major pharmaceutical company, tweeted “we are excited to announce insulin is free now.” The tweet was up for over three hours before the company clarified their actual username. 

Twitter’s new verification system has also led to instances of political impersonation. Fake accounts pretending to be United States President Joe Biden and former President George W. Bush were also removed, as well as one parodying Ontario Premier Doug Ford. The BBC has also found at least three QAnon influencer accounts who purchased verified status.

The company has since paused the new system, but Twitter could be in serious financial trouble going forward. Around 90 percent of its revenue comes from advertisers, who these policies have affected. The political and economic consequences of Musk’s mismanagement could be severe, even beyond the screen.