Elon Musk, CEO of Tesla and SpaceX has determined about that he wishes to foresee in the world.
On 25th August, twitter agreed to sell itself to Musk for $44 billion just three weeks Musk’s disclosure about 9.2 per cent stake in the platform.
Elon Musk is one of the most eccentric billionaires of our time, whether you like it or not. His financial decisions and investments provide fodder for conversation. Even his own tweets can spark passionate debates on the internet and among major corporations. This isn't the first time Musk has impressed us.
Here are few reasons why Musk chose Twitter as his next project.
- Freedom of Speech: Twitter serves a social media platform where people are speaking their minds. Over the time, Twitter has a reputation for being a broken company for freedom of speech. Many accounts has been suspended and blocked from twitter for simply speaking their minds on this social media platform. Musk has professed himself an absolute believer in freedom of speech. One of the main reasons this business magnate has decided to procure this social media platform is to promote free and open speech. Musk has previously expressed dissatisfaction with Twitter's moderation capabilities, despite the fact that the company did not delete his anti-vaccine postings or terrible "jokes" involving Hitler. Due to these identical filtering mechanisms, he once compared the previous Twitter CEO, Parag Agrawal, to Joseph Stalin. Musk believe that a democracy can and only will be established where people have the right to express their thoughts freely.
- Centre of Culture-War Debates: Twitter via network representations of tweets and replies serves as a stage for public debates. Twitter's dual status as a complete disaster and a powerful tool makes it a perennial target: it elicits intense reactions, including fixes and calls to shut it down completely. Tweeting is also the ultimate act of improvisation, with no distinction between internal monologue and public argument.
- Twitter returns to glory : According to The New Yorker news Portal, Musk was charged with fraud by the Securities and Exchange Commission in 2018 after tweeting about having the means to take Tesla private at $420 per share, resulting in his standing down as chairman for three years and paying a $20 million fine. This recent move of buying twitter could be seen as an act of revenge as Musk appears determined to return Twitter to its former glory, when tweeting had fewer ramifications.
- Dealock of Internet- Twitter resembles the Internet's hot potato, or even a nuclear disaster zone. No one wants to accept too much credit for it—Jack Dorsey was only its part-time CEO for years—but it needs to be contained. Musk appears to be determined to let it loose. His acquisition quest appears to be more about preserving Twitter's capacity for chaos as a tool for himself and others to continue influencing their huge audiences without interference.
Twitter was planning to reject the offer, but when Musk provided information about how he planned to fund the transaction, the board became more interested. The corporation had implemented a defensive mechanism known as the "poison pill," which made it more difficult for Musk to increase his ownership in the company. This technique helped Twitter to accept a more competing offer.