Elon Musk buying Twitter might have sparked some controversy.
Ladies and gentlemen, it’s official.
Twitter’s board accepted the $44 billion on Monday.
#ByeTwitter is trending as people oppose the ‘takeover’ by Musk.
But is Elon Musk buying Twitter the worst thing that could have really happened on the platform?
Here’s why the move could actually be a great thing.
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Elon Musk seals Twitter deal
Elon Musk filed a Schedule 13D with the SEC earlier in April adjusting his proposal with Twitter.
He proposed acquiring 100% of Twitter in a $44 billion cash deal on April 14th to take the social media company private.
Elon advised that if the company did not accept his offer he would pull his 9.2 stake out of the company since both their values did not align for the public’s best interest, free speech as Musk has said.
The Tesla and SpaceX CEO became Twitter’s biggest shareholder when it acquired a 9.2 stake in the company.
He purchased more than 73.4 million shares according to the Schedule 13D filing.
Elon’s stake was worth roughly $2.89 billion when the market closed that Friday.
A week after the proposal was made, Elon exposed the Twitter board for not holding any shares of the social media company themselves.
Now the deal is officially sealed according to REUTERS.
What does Elon Musk want to do with Twitter?
Elon Musk says he wants to eliminate spam bots on Twitter as well as bring back freedom of speech on the social media platform.
This is an incredibly important part of the acquisition that has many avid users excited about the takeover.
Elon Musk has been a long-time advocate for freedom of speech and has also exposed injustices in the market.
He understands how the market is manipulated through what he describes as ‘short and distort‘ campaigns.
This is where media is used to create a negative headline on a stock and then short sellers attack it, profiting from the falling share price of a profitable and successful business.
Tesla has been a victim to this type of abuse in the market and Elon has created a disruption in the SEC by exposing this fraud.
But the SEC hasn’t done anything about the market manipulation, but rather investigated Elon Musk instead.
Similarly, what occurred with ‘meme stocks’ last year has retail investors fighting for market transparency as millions of investors have been cheated from their money.
The retail community finally feels like they have a giant on their side.
How will free speech be monitored on Twitter?
Elon expresses during a TED talk that the Twitter acquisition is not for monetary gain but rather an effort to provide humanity with a platform where freedom of speech is not compromised.
In that TED talk, he mentions free speech will abide by laws so it is not lawless.
People against the acquisition think the social media are looking at the negatives rather than the positives.
A social medial platform that can no longer limit Twitter posts from being seen due to scandalous exposure allows the truth to be seen.
Elon Musk said on TED he’s big on the truth.
And those who support Elon Musk buying Twitter is too.
What are your thoughts on Elon Musk buying Twitter?
The purpose of Elon Musk buying Twitter is to provide people with a social media platform that cannot be influenced by outside forces, which could potentially harm the narrative of the truth.
While people might argue that a man with so much money and power should not have more influence and more power, I disagree, depending on who wields that power.
Because there are currently people running the country who abuse this power.
And unlike Elon Musk, they are not for the truth.
I’d love to hear your thoughts in the comment section below.