Officially, it’s over Elon Musk has officially purchased Twitter’s whole stock for $44 billion, or $54.20 per share. For the past few weeks, the microblogging site has been considering Musk’s offer. Musk previously stated that Twitter possesses “amazing potential” that he hopes to fully realize through new features and functionality.
Twitter’s CEO, Parag Agrawal, said about the acquisition in the following words: “Twitter serves a purpose and has a global influence. We are really proud of our staff and motivated by the job they are doing, which is more crucial than ever before.” “With a purposeful emphasis on value, certainty, and funding, the Twitter Board carefully evaluated Elon’s proposal. With the proposed deal, Twitter investors would receive a considerable financial premium, and we feel this is the greatest option for the company “Bret Taylor, Twitter’s Independent Board Chair, made the observation.
Musk bought a 9.2 percent interest in Twitter earlier this month. He became the company’s second-largest stakeholder, after only Vanguard, which had a 10.3% holding. Parag Agrawal, CEO of Twitter, invited Musk to join the board, but the billionaire turned it down. It’s been a long time since then since Elon and Twitter got into a fight.
Elon Musk started the whole thing by asking Twitter users whether they wanted him to create an alternative to Twitter, which he argued didn’t “adherent” to their “right to freedom of speech.” According to many, he should instead purchase the social media platform, Twitter. On the other hand, Tesla CEO Elon Musk argued that Twitter stifles free expression, which he is expected to fix as the owner of Twitter.
The billionaire has frequently criticized Twitter for limiting various viewpoints, notably former US President Trump, over the previous few years. In fact, Twitter once accused Musk of breaking its terms and standards by posting about coronaviruses, among other things. In light of Musk’s repeated claims that Twitter does not uphold the principle of “freedom of expression,” it is possible that the company’s content management process may undergo some modifications.
Tweeted lately, “Democracy can only thrive if people are able to freely express their opinions. Does Twitter, in your opinion, adhere to this idea to the letter?” Nearly two million people were asked, and around 70% of them said no.
Second, the edit button may be arriving shortly, thanks to Musk’s ownership of Twitter. However, Twitter has previously said that they are testing the edit option. To begin with, Twitter Blue subscribers will have access to the edit feature, which will thereafter be made available to the whole public. Certainly, Musk might contribute to the early availability of the edit button.
The removal of spam accounts and spambots, which Musk considers Twitter’s “most unpleasant thing,” is another area where he is likely to be involved. Scammers have been impersonating Tesla CEO Elon Musk for the last few years in an attempt to convince customers to hand over cryptocurrencies. In 2020, a bitcoin hoax was promoted using several high-profile Twitter accounts, including Elon Musk.
Tesla CEO Elon Musk recently slammed Twitter for focusing on promoting nonfungible tokens (assets confirmed on a blockchain) rather than tackling crypto spambots. While crypto fraudsters are holding spambot block parties in every single thread, Twitter engineers spend their time and money on this “BS,” he said.
The new owner, Tesla CEO Elon Musk, may potentially lead to a more open-source Twitter. Some of its technologies are already publicly available, therefore it may be considered open-source to some extent. There is “no type of behind-the-scenes manipulation,” Musk stated at the recent TED conference, “either algorithmically or humanly.”
