Since acquiring the social media platform Twitter for 44 billion dollars, Elon Musk has been busy at work, making changes like downsizing and focusing on monetization efforts. Here’s some Invest Ark Portfolio manager reflects on the work Musk has done with Twitter so far.

What happened: Musk acquired Twitter for $44 billion in 2022 and became the social media company’s chief executive officer CEO titles from three companies.

Many fans of Musk and his companies Tesla and SpaceX have cheered him on and believe in the long-term story that Twitter envisions. Others have pointed to Twitter’s current shortcomings and challenges.

“We didn’t think this was going to be an overnight success when he took over Twitter,” Ark Invest’s portfolio manager said Nick Grous said Benzinga. “We knew it was going to be a bumpy ride.”

Grous told Ark Invest who invested in the Twitter acquisitionlooks at the long-term success of the social media company.

One of Musk’s visions is to make Twitter into a super appwhich Grous said was not popular in the United States.

“The best use case is WeChat in China and how productive it has been for that population and for China as a whole.”

Grous said Musk can build a solution with Twitter, which is one of the reasons Ark Invest is bullish about Twitter’s future.

“We’ve always maintained our long-term perspective based on what Elon Musk aspired to be.”

According to Grous, Musk came into a company that didn’t have those goals, so he had to change the structure before he could set about building the super app. Ark Invest’s portfolio manager said Musk is not losing sight of his original goal for the company.

Related link: This is what keeps Ark Funds from Elon Musk’s Twitter purchase

What’s next: One of the recent areas of growth in social media has been short-form content, which helps businesses to how tick tock And alphabet inc GOODGoogle obsessed youtube appeal to a younger demographic.

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