Elon Musk made headlines last month with a casual poll about Twitter. He asked if the bird app rigorously adhered to the fundamental principle of free speech. A majority of people voted absolutely not. There were calls for Musk to build his own social media platform that wouldn't censor or suspend anyone who held an opposing viewpoint from the Twitter employees who get to push the buttons. Musk said he was seriously considering it. But he decided to buy Twitter anyway.
Well, kinda. Musk bought a 9.2-percent stake in Twitter, valued at $2.89 billion. Twitter stock is up over 21% in pre-market trading as of this writing. While Musk doesn't own Twitter outright, he owns more of Twitter than anyone else. It would be foolish to believe he's going to stop there.
In hindsight, the signs were there. Musk began sharing memes comparing new CEO Parag Agrawal to Joseph Stalin the day Agrawal was announced to the position. You don't make a $3 billion purchase on a whim. Not even someone as wacky as Musk.
As of this writing, Musk has yet to tweet about his purchase. Don't act like you weren't wondering what meme he was going to use.
It's curious to wonder what role, if any, former CEO Jack Dorsey will play or has played in any of this. Dorsey over the weekend expressed his regret for ruining the internet. When Musk tweeted about Twitter's algorithm and how the company decides what content you are allowed to see, Dorsey responded that "the choice of which algorithm to use (or not) should be open to everyone." He did NOT share that opinion while CEO of Twitter.
We'll see how things unfold. For now, there is at last the promise of Twitter sucking less. Don't let us down, Elon.
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April 04, 2022 at 08:30AM - Brodigan
Elon Musk Becomes Largest Shareholder of TWITTER With $2.8 Billion Purchase
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