Elon Musk buys Twitter, a corporate raid or a business move?
The World’s Richest man, Elon Musk buys Twitter, the popular microblogging platform. He finally takes over the social media platform after months of making moves to purchase it.
After Elon Musk bought Twitter, he tweeted, “The bird is freed.” He symbolically used Twitter’s bird logo, to announce his commitment to making it a less restricted platform. This followed the completion of his $44 billion acquisition on Thursday, 27th October 2022.
Now, to the part where seemingly, Elon Musk’s Twitter takeover is a corporate raid. He sacked key executives of Twitter as soon as he took over the company.
Thus, Elon Musk fired Twitter Chief Executive, Parag Agrawal, Chief Financial Officer, Ned Segal, and legal affairs and policy chief, Vijaya Gadde, according to multiple reports.
He claims they misled him and investors on the issue of the prevalence of fake accounts on Twitter. Also, he noted plans to make job cuts, which left 7,500 Twitter employees on the edge due to a possible loss of their jobs.
However, the CEO of Tesla said he is not going to make Twitter a bizarre absolute free speak platform. This, he assured advertisers in an open letter to them on Thursday.
He said, “Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!”
Moreover, Elon Musk said he would change Twitter from becoming an echo chamber for hate and division, as well as wants to spam bots on the platform and make the algorithms that determine how content is presented to its users publicly available.
How he intends to do all these, he did not say. Nonetheless, one thing Elon Musk wants everyone to know about why he bought Twitter is that:
“I did not buy Twitter to make more money but to try to help humanity, whom I love.”
Meanwhile, with all these, what do you think Elon Musk’s take over of Twitter is, a corporate raid or a business move?
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