Elon Musk’s offer to buy Twitter, which was once considered a long way, has now been accepted.
The billionaire will pay about $ 44 billion for the company in an agreement that should be concluded this year, Twitter said in a press release on Monday.
Musk was so motivated to buy Twitter that he gave the company the “best and last offer” and announced that he had a Plan B if he failed, and met privately with several of Twitter’s major shareholders to convince them to be part of his body.
Musk offered Twitter $ 54.20 per share and outlined his plan to raise $ 46.5 billion to fund his transaction. Shares of Twitter rose on Monday morning with reports that the company may be close to an agreement with Musk. So why would the world’s richest man, who already runs a Tesla electric car and SpaceX, want to buy a social networking company?
Why would Elon Musk want to buy Twitter?
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Musk said he wanted to promote a free and open language service, which he considered an important area for knowledge sharing.
During an interview with TED shortly after announcing his offer, he set out some of his plans.
“Well, I think it’s very important to have an inclusive arena for freedom of speech,” Musk said. “Twitter has de facto become a city square, so it’s important that people have a reality and a vision that they can speak freely within the law.”
Musk did not say he would change the permanent ban on former President Donald Trump, who was expelled from the site after the January 6 uprising last year.
Critics of Musk’s plan have expressed concern that it will allow extremists to break into a site that Twitter and other social media companies are trying to eradicate. In an interview with TED, Musk acknowledged that content moderation was not an obvious problem.
He said he thought Twitter “should be very careful about permanent bans” and added that he thought time limits were better. “Well, I think we would be wrong if we left the speech in case of doubt, left it. But if it’s a gray zone, I’d say we’ll leave a tweet,” he said. “But of course, in case there can be a lot of controversy, you don’t have to promote this tweet. I’m not saying I have all the answers here.”
He reiterated that his agreement was not about making money.
“My strong intuitive feeling is that having a public platform that is the most reliable and widely inclusive is crucial to the future of civilization,” he said. “I’m not really interested in economics.”
How fast can he change things on Twitter?
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Maybe not right away. The agreement has yet to be finalized, the process can take weeks or months.
Under federal law, Musk must inform regulators of the Federal Trade Commission and the Department of Justice of his plans to buy Twitter. If the supervisor initiates an inspection of the business, this could lead to a delay in closing the purchase. Then Musk promised to keep Twitter private. In announcing his offer to the Securities and Exchange Commission, he stated that “from the time I made my investment, I now know that the company will not grow or serve this social imperative in its current form. .Twitter needs to be transformed as a private company. “
Musk said he wanted to keep as many shareholders as the law allowed him to take the company in private. And he has not yet announced plans for what the management or potential board will look like, so there are still many open questions about how much direct influence Musk will have.
What did Musk say about a possible edit button on Twitter? Return to the menu
The Edit button is probably one of the most popular features on Twitter. Imagine for a second that you were transposed into the karmically controlled world of Earl. Imagine being transposed into the karmically controlled world of Earl. And then you see the typo.
Twitter does not have the ability to edit tweets without deleting and resending. Musk asked his followers if they wanted a button to edit the poll on Twitter, and 73.6 percent of the more than 4 million voters said yes.
A day later, a communication group on Twitter confirmed in tweet that the company was already working on this part. “No, we didn’t get the idea from the survey,” the team tweeted.
What does Musk say about opening the Twitter algorithm?
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Musk said he wanted to make the Twitter algorithm more transparent, including allowing people to see if their tweets had been promoted or reduced. He said he wanted to create an algorithm that would recommend whether the tweet was promoted or degraded as “open source” or available to the public for review and improvement. He said he believed it would help prevent “behind-the-scenes manipulation.”
Researchers claim that this plan is much more complicated than Musk’s proposal as such. And Twitter is already following it.
Elon Musk wants the Twitter algorithm to be public. It’s not that easy.
A former Twitter employee who spoke on condition of anonymity to discuss private matters, said the company was considering a “algorithm marketplace” where users could choose different ways to view their resources. But trying to offer more transparency has proven challenging, the man said, by linking Twitter’s algorithms to other parts of the product. The opening could reveal trade secrets and provoke abuse, the man said.
What can happen to your private messages and data on Twitter?
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Musk’s own instant message, like a private message, is sometimes published. Last year, he wrote an SMS to a teenager who had an account tracking his private jet. Musk offered him $ 5,000 to withdraw the account.