Musk Halts twitter’s Pay For Blue Tick plan As It Is Backfired.

After the whopping $44 billion acquisition of Twitter by Tesla CEO Elon Musk, he started making a series of changes in twitter’s administration as well as features in view to make the company profitable and application ready to use for everyone.

Asking to pay $8/ month was one such change in the feature for verified accounts. SpaceX founder asks verified users to pay for a blue tick or they may lose their verification if not paid for it.

Before musk’s entry, twitter’s blue tick was available only to famous people and VIPs such as politicians, actors, businessmen, high-profile people, and companies’ official accounts. This is to indicate that the account is verified i.e. authentic and official but after musk announced the pay for blue tick scheme anyone can have a blue mark after an $8/ month payment.

A blue tick symbolizes that your account is authentic and that what is twitted from that account is valid and true. But it looks like this scheme backfired on Elon Musk himself and created trouble for several other companies.

Some imposter bought the blue tick from an account name matching to the drug maker company Eli Lilly and Company‘s official account. And made a fake post saying “We are excited to announce Insulin is free now” Which costs Eli Lilly billion of dollars. Later the company posted an apology from the official account for misleading messages by imposters. But this incident tank the companies’ share by several dollars and the company ends up losing billions of dollars.

Even musk’s own companies are not spared from imposters. People are taking a dig at Twitter for boomeranging twitter’s Pay For Blue Tick plan.

Musk has to abort this scheme for some time until he manages to find a solution to deal with impostors having a blue tick. 

Some celebrities announce they may stop using Twitter. It will be interesting to see what will Paypal founder do to tackle this problem.