In an interview with CNBC on Monday, Barry Diller, chairman of IAC and Expedia, said that the new owner of the social media site will have a smaller business.
He thinks Musk will stay by the company.
A person with a lot of money bought a toy. We don't know how long he will use the toy, but I don't think he's going to leave.
He thinks Musk will figure out how to improve the service and make it more appealing, but he doesn't think it will become a super-app.
He said that it would be smaller.
He made his mark immediately after taking ownership of the company. When he took over the company, he dismissed the CEO, CFO and head of legal, public policy and trust and safety. Half of its employees were laid off.
Since closing the $44 billion deal, Musk has laid out a number of ideas for a new user verification process.
Musk said he will give power to the people by offering verification for $8 a month on the social network. He said participants will get priority in mentions, replies and search, receive half as many ads, and will be able to send long videos and audio messages.
Changes to the platform for some users were rolled out on Saturday in preparation for the launch of the new service, but will be delayed until after Tuesday's elections, according to reports.
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