It’s been talked about for days or maybe even weeks that billionaire Elon Musk is joining Twitter as a board member. More recently, the entrepreneur made headlines when it was reported that he was planning to buy the rest of Twitter after he had already bought 9% of the company.
Elon reportedly offered $43 billion (RM187 billion) to fully buy Twitter but the company declined the offer at first. But now it seems to be official that the Tesla and Space X CEO had bought the social media website for $44 billion (RM191.5 billion).
Why did Elon Musk buy Twitter?
The SpaceX founder believes that free speech is a societal requirement for a functioning democracy and he believes that Twitter has that potential to be the platform for free speech around the world.
“However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form,” he said. According to Elon, Twitter needs to be transformed as a private company to make his vision come true.
According to NewYorker, the billionaire’s intention to buy Twitter is less about making profit and more about preserving Twitter’s capacity for chaos as a tool for himself and others to continue influencing their audiences without interference.
Prior to the recent deal, Elon has questioned Twitter if the social media site actually adhered to free-speech principles, and he has complained about Twitter’s algorithmic feed, and its lack of an Edit button.
The future of Twitter?
While nothing is set in stone just yet, here are some ways that Elon Musk could or will change how Twitter operates:
1. An Edit Button
Elon once (jokingly) tweeted a poll earlier this month asking his followers if Twitter should have an edit button to which most answered yes. But this has already been confirmed by Twitter themselves a bit later that they are currently working on an Edit Button. The feature could benefit Elon as he had been in trouble over a tweet.
2. Long Tweets
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Unlike other platforms, Twitter has a limit of 280 characters. If you have a lot to say then you’d have to make a Thread by replying to your own tweet(s). The Tesla CEO once replied to a long twitter thread saying that Twitter is long overdue for long form tweets.
3. Open-Source Algorithm
Elon expressed concerns about bias being inherent to Twitter’s algorithm and even tweeted a poll to ask for his followers’ opinion.
I've now been asked multiple times for my take on Elon's offer for Twitter.
So fine, this is what I think about that. I will assume the takeover succeeds, and he takes Twitter private. (I have little knowledge/insight into how actual takeover battles work or play out)
(long 🧵)
— Yishan (@yishan) April 15, 2022
Not everyone is happy with the idea of Elon Musk buying Twitter. Former-Reddit CEO, Yishan Wong posted a thread sharing his insights and said that Elon is “in for a world of pain”. Twitter users are also torn with some supporting Elon Musk purchasing Twitter while others are showing concerns about the future for the social media site.
Sources: GSMArena, NewYorker, Twitter, Axios, BusinessInsider.
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