By the top of final week, when a few of the preliminary mud round Elon Musk’s arrival as Twitter new largest shareholder had settled, Twitter staff tried to method the scenario with some gallows humor.

This one line was a standard thread among the many messages exchanged between Twitter staff, known as “Tweeps”: Musk would possibly have the ability to discover a means for them to start out receiving Tesla inventory as a reward. Definitely, shares of the electrical carmaker run by Musk had currently outperformed Twitter inventory (by greater than an element of 10 within the 5 years earlier than Musk confirmed up at Twitter’s doorstep).

“Everybody was attempting to crack jokes about it,” says an individual at Twitter who seen the chats. “However then it’s like, ‘OK, what Does this imply for us?’”

That’s nonetheless not notably clear as a result of there’s rapidly been a number of extra twists within the company drama, which has confirmed surprisingly topsy-turvy in a brief period of time.

Parag Agrawal, Twitter’s CEO, introduced that Musk had disclosed his 9.2% stake within the firm on Monday. This transfer was a shock to some Twitter customers. They apprehensive Musk, who has turn out to be one of many service’s hottest figures by way of controversial statements about every part from medicine to politics, would harm Twitter’s inside tradition, based on conversations with roughly a half dozen present Twitter staff, all of whom spoke anonymously as a result of they weren’t approved to speak publicly. Prior to now 10 years, Twitter has earned a very good fame for being an ideal place to work. Twitter customers typically use #LoveWhereYouWork to indicate their appreciation. It’s a distinction to the move-fast-and-break-everything mantra current at different Large Tech firms, which attempt to mitigate such hard-nosed habits with profitable salaries and lavish perks. Some Twitter staff really feel Musk and all of the uncertainty surrounding him have made their job tougher. “It’s been chaos,” says a Twitter worker. “Chaos and confusion.”

These are just some of the numerous components which were added to over these final days. Musk has now chosen to show down the board seat he’d agreed to days earlier, informing Agrawal in regards to the choice on Saturday morning (presumably pacific time). The significance of hour-byhour timing is shocking. Musk spent a lot of Saturday on Twitter throwing out more and more wild ideas for the $37 billion firm—scrap adverts, abandon the San Francisco headquarters—including to already sizeable consternation amongst Twitter rank and file.

Musk gave the world entrance row seats, which is a departure from typical company protocols. Musk provided Twitter customers a possibility to be a part of the motion, giving them a first-hand likelihood. Musk despatched two surveys to his 81,000,000 followers final week. One requested about whether or not or not they want an modifying operate, and the opposite about altering their firm’s title. The latter was offered with two affirmative-style solutions, suggesting that Twitter might lose a consonant. Twitter’s title shall be an inexplicable joke.

Musk was offered with an ultimatum by Agrawal on Saturday: Take the seat as a board member and stop inflicting a lot bother. Or proceed to do as you want—and don’t take the directorship. Musk selected the second, although we nonetheless don’t know (and sure by no means will) which of his unusual concepts pushed Twitter and him over the brink.

Agrawal had collaborated with Jack Dorsey, founding father of Twitter, to publically embrace Musk final Wednesday and shared some widespread concepts about decentralizing energy over social media. He notified Twitter staff on Sunday evening about his U-turn choice. He additionally revealed a model of his observe on Twitter, and the corporate has cancelled a deliberate Q&A session between Musk and Twitter staff. (Twitter didn’t touch upon Musk’s tweet.

Agrawal’s observe got here at unusual second for Twitter staff. Monday was a so-called Day of Relaxation at Twitter, a break day every month the corporate provides to staff to recharge—hang around with their youngsters, go to the spa, refill at Costco, no matter. However some Twitter staff discovered Monday lower than enjoyable, left attempting to digest the “he’s in, he’s tweeting, he’s out” happenings round Musk. It was the second time in current months that company information has consumed a Day of Relaxation : Dorsey’s departure in November additionally leaked out on a Day of Relaxation. “They could as effectively cancel the Days of Relaxation. They’re cursed,” one Tweep complained, discovering it laborious to take pleasure in a quiet breakfast. “Clearly, I’m kidding,” the particular person added rapidly, “however one thing does all the time to appear to occur just lately.”

It’ll doubtless stay the case, too. Evidently Musk’s entire story is unlikely to achieve a definitive conclusion. Agrawal made no secret of this reality in his public assertion. “There shall be distractions forward, however our targets and priorities stay unchanged,” he wrote. Agrawal inherits Dorsey’s daring targets, which he agreed to as a way to shield one other investor a few years again. Twitter hopes to achieve $7.5 billion income by 2023 and have 315 million customers each day, that are troublesome targets. The corporate’s shares have been closely affected. For now, traders selected to shrug off Musk’s sudden reversal in regards to the board, sending Twitter refill 1.8% on Monday, a day when the Nasdaq dropped 2.2%.

Musk, the world’s wealthiest particular person, is effectively positioned to launch a hostile takeover in opposition to Twitter if he chooses. Although there are some questions on how precisely he’d finance it—his fortune is generally in Tesla shares, not liquid money—and whether or not Twitter would undertake a poison capsule protection to ward him off, diluting his stake at nice value to itself. Musk on Monday made a brand new submitting with the SEC about his Twitter stake, outlining his intentions to probably “have interaction in discussions with the Board…by way of social media or different channels” and stated he “reserves the proper to alter his plans at any time.”