After a lot of hustle, Elon Musk has finally acquired Twitter for $44 billion at a share value estimated at $54.20. Tesla owner buys the 16 years-old social media platform, which is the biggest deal in the history of the tech world. With this acquisition, he is taking the company private. With the recent tweets, Elon musk is hinting toward acquiring Twitter, but earlier all the board members of Twitter were not seemed to be on the same page. At last, the board members unanimously decided to sell the social media platform to Elon Musk.
Elon Musk with 84.6 million followers, has such a powerful impact among the investors that even his one tweet is enough to fluctuate the share market substantially. The jump in Twitter’s share of 5% is noted after Elon Musk started hinting toward its acquisition.
Elon Musk in his last few tweets expressed that he wanted freedom of speech on Twitter. He tweeted, “I hope that even my worst critics remain on Twitter because that is what free speech means.”
TURMOIL BEHIND THE ACQUISITION
But why there was so much upheaval before the big decision? Why was the richest man in the world wasn’t able to buy the social media platform? Because at that time, the unanimous decision was pending from the side of Twitter’s board members.
Prior to the acquisition, the Twitter board offered Elon Musk to join the board, which was refused by the Tesla owner, as confirmed Twitter CEO in his tweet. Parag posted, “There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and how we execute is in our hands, no one else’s. Let’s tune out the noise, and stay focused on the work and what we’re building.” This tweet stirred up a lot of debate and discussion.
After so much chaos, debates and discussions, Elon Musk finally owns Twitter. Some are claiming that possession of Twitter by Elon Musk makes it a more liberal platform, while others are stating it otherwise. Here are a few things that might change on the platform, that Elon finds problematic. Twitter CEO, Parag Agrawal says, “Once the deal closes, we don’t know which direction the platform will go,” and the fate of the social media platform is not certain.
FREEDOM OF SPEECH ON TWITTER
Elon Musk emphasises “Freedom of Speech”, he tweets “free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.” Moderation of content rules might be possible, to make it more liberal and gives people the freedom to share their opinions.
With the poll, Musk asks if there should be an ‘Edit Button’ on the platform or not. The results show the affirmative results for the same. For now, it is not possible to edit a post after once posted on Twitter. After the acquisition, there is a high possibility of the introduction of an edit button on Twitter.
CHANGE IN THE ALGORITHM
The algorithm on which Twitter works might change completely, it will be now open source to the public. Though experts are sceptical about this, some say it will provide transparency and accountability, on the other hand, it is considered that it will make the platform more complicated.
It is hard to say what the future holds for Twitter, whether it will become an even more liberal platform to raise your opinions and viewpoints, or the things go south. Twitter still is divided, but that is the essence of Twitter, right?