Elon Musk got away with promising positive changes for Twitter

What awaits Twitter with the Elon Musk era

Elon Musk took control of Twitter, after agreeing to buy it for 44 billion dollars, with money out of his pocket and bank loans with Tesla‘s endorsement. Now everyone hopes to know what will be the first moves the controversial tycoon will make on the social network, which has 300 million users.

Although Twitter’s board refused in principle, even with a move for the world’s richest man to hold more than 15% of the shares, he ended up succumbing to the tempting offer.

Elon Musk is now the owner and a new Twitter era is expected, but what does he want to do? Why did he buy the social network? How can this benefit Donald Trump?

WHAT ARE ELON MUSK’S PLANS WITH TWITTER?

Musk’s main agenda for Twitter, as the tycoon himself has claimed, is “free speech“. The world’s richest man has said he wants to keep the social network as it is and adapt it to his vision as a “self-confessed absolutist of free speech.”

In his letter addressed to the board of the aforementioned social network, in early April 2022, Musk mentioned that “Twitter is the platform for freedom of expression around the world“, but this “social imperative” cannot be realized if Twitter remains in its current form and, therefore, “needs to transform itself into a private company“.

Goodbye trolls?

And as part of that plan, the world’s richest man has said he even expects his “worst detractors” to remain on Twitter because “that’s what free speech means.” It has announced that it will make adjustments to the service to make it easier to use the social network, such as an edit button and the removal of “spambots” that send overwhelming amounts of unwanted tweets.

What does free speech mean to Elon Musk?

In his tweet published on the night of April 26, he said: “By freedom of speech, I mean simply what conforms to the law. I am against censorship that goes far beyond the law. If people want less free speech, they will ask the government to pass laws to that effect. Therefore, going beyond the law is contrary to the will of the people.” He added that this has generated a lot of antibodies.

Politics

Beyond that, the background of the purchase could also have political overtones. Musk has made it clear that his main goal in buying Twitter is to support unrestricted expression and reduce the ban on users or the removal of individual tweets. That brings to mind that, on January 8, 2021, Twitter permanently vetoed the former president of the United States, Donald Trump, “due to the risk of further incitement to violence” after the riots at the Capitol.

One of the big questions is whether Donald Trump will return to Twitter
One of the big questions is whether Donald Trump will return to Twitter

Although Musk has said he prefers to stay out of politics, according to an analysis by BBC Mundo, there are powerful reasons to suspect that it would reactivate Trump’s account. The tycoon applauded the former president two years ago when Trump supported Tesla’s plans to reopen an auto plant in California during the COVID-19 lockdown.

Subscription

Musk is more interested in subscriptions, which could prove difficult to sell in an environment where major social networks are free to use.

Twitter users can decide if they prefer their data not to be used to monetize it and are willing to pay for it, but it’s a gamble.

He also likes cryptocurrencies. Could you use the platform to incentivize payments in volatile, unprotected currencies like bitcoin?

HOW MANY TWITTER FOLLOWERS DOES ELON MUSK HAVE?

Elon Musk, the richest man in the world, has 87 million followers on his Twitter account, where he posts messages continuously. Even in the battle for the purchase of the social network of the little blue bird, he made it on his own.

His messages have caused controversy, including the U.S. Securities and Exchange Commission banning him from tweeting about Tesla’s affairs after a tweet wiped $14 billion off its stock price. On another occasion, he was sued for defamation after a tweet in which he called a diver who participated in the rescue of a group of boys in a cave in Thailand in 2018 “pedophile” (a case that Musk eventually won).

HOW DID THE PURCHASE OF TWITTER AFFECT TESLA?

Elon Musk will be the new owner of Twitter, after first becoming the main shareholder of this social network at the beginning of the month. The company has accepted the offer of Tesla’s boss, which materializes in about 44,000 million dollars.

However, his decision has not gone down well with Tesla, which has already been going through problems. Tesla fell 11% on Wall Street on Tuesday and dragged down other big tech companies included in the Nasdaq index, a day after the purchase of the social network.

Musk’s electric vehicle company was down 11.06% or more than $110 of its stock market value mid-session, while Twitter was down 3.50% and other big names like Netflix (-4.9%), Amazon (-4%), Alphabet (-3.2%), Apple (-2.7%) and Meta (-2%) fell.

1 thought on “What awaits Twitter with the Elon Musk era”

  1. I’m personally love to heared this that Elon Musk Buy Twitter. It’s good for us. I also heared that it’s also going to run primium version.
    Here you get more info for Twitter

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